LatAm Briefs: Pemex Costs, Ecuador Output

(Energy Analytics Institute, 18.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: Banco do Brasil CEO resigning under pressures from Brazil’s President Jair Bolsonaro, Ecuador’s oil production reaching 506,519 barrels per day (b/d), and Pemex reducing production cost.

Banco do Brasil CEO Resigns Under Bolsonaro Pressures

Petrobras CEO Roberto Castello Branco is not the only official to be leaving his post due to pressures from Brazil’s President Jair Bolsonaro. Banco do Brasil SA President Andre Brandao is the latest executive to resign due disagreements with the president and over austerity issues.

Ecuador’s Production Reaches 506,519 B/D

Ecuador production of crude oil reached 506,519 b/d on 18 March 2021, of which 398,937 b/d corresponded to EP PetroEcuador and 107,582 b/d corresponded to private companies.

On the same date, Ecuador’s two main pipelines transported a total of 515,320 b/d, of which SOTE transported 345,656 b/d while the OCP transported 169,664 b/d, according to data published by Ecuador’s Ministry of Energy and Non-Renewable Natural Resources (MENNR).

Pemex Reduces Production Cost

PEMEX’s production cost was $11.20/barrel in 2020, down $2.90 per barrel compared to $14.10/barrel in 2019, said Octavio Romero Oropeza in a statement released by state oil company Petróleos Mexicanos (PEMEX) on 18 March 2021.

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By Jared Yamin, Aaron Simonsky, and Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.