Ecuador Awards 3,960,000 bbls to Shell (Oriente) and Unipec (Napo)

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PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 24.Jan.2025) — EP PetroEcuador expects to export 3,960,000 barrels (bbls) of crude oil in Feb. 2025, which will generate estimated revenues of $251mn.

This as EP PetroEcuador awarded the sale of 1,800,000 bbls of Oriente crude to Shell Western Supply and Trading Limited, and another 2,160,000 bbls of Napo crude to Unipec America Inc.

Over 30 qualified companies were invited to participate in the “transparent” bid process, EP PetroEcuador said 24 Jan. 2025 in an official statement.

EP PetroEcuador said these exports are governed under the West Texas Intermediate (WTI) benchmark, which is the reference marker for Ecuadorian crude.

RELATED: EP PetroEcuador exported 120 MMbbls in 2024, generating sales of $8.183bn

Currently, around 78% of EP PetroEcuador’s Oriente and Napo crude exports are spot sales with the remaining 22% allocated to fulfill long-term commitments, according to the company.

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By Piero Stewart reporting from Panama City. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.

ENERGY ANALYTICS INSTITUTE (EAI) https://energy-analytics-institute.org

Energy Analytics Institute (EAI), formerly LatinPetroleum.com, is a Houston-established private organization with a satellite presence in Calgary, Mexico City and Venezuela where it operates under Editores LatinPetroleum SA. Since 1999, EAI has been a leader in energy news coverage of Latin America in particular. Coverage, run out of Latin America, now spans the world and encompasses nearly all energy and energy-related sectors.

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