(Energy Analytics Institute, Piero Stewart, 13.Jul.2018) â Oil production from the Ishpingo, Tambococha and Tiputini or ITT field is around 60,000 barrels per day. With additional work activities, production from ITT is expected to reach up to 70,000 b/d, reported the daily newspaper El Universo, citing PetroAmazonas EP Manager Ălex […]
Category: Ecuador
Ecuador energy
Indigenous Groups Await Chevron Payments
(Energy Analytics Institute, Ian Silverman, 12.Jul.2018) â Indigenous groups in Ecuador that were affected by activities of San Roman, California-based Chevron in the country continue to await payment from the oil giant. Ermel ChĂĄvez, from the Amazon Defense Front, recently spoke about the issue during a press conference in Ecuador. […]
FDI in LAC Region Falls for Third Straight Year
(Energy Analytics Institute, Ian Silverman, 12.Jul.2018) â Foreign Direct Investment (FDI) in Latin America and the Caribbean fell for a third straight year in 2017, reported the Economic Commission for Latin America and the Caribbean or CEPAL by its Spanish acronym. The details were revealed in CEPALâs annual report titled […]
Ecuador, Venezuela Output Down, OPEC Reports
(Energy Analytics Institute, Ian Silverman, 11.Jul.2018) â The Organization of Petroleum Exporting Countries published its July 2018 edition of its Monthly Oil Market Report (MOMR). Crude oil production from Ecuador and Venezuela — the lone countries from Latin America to be members of OPEC — fell this month (see charts). […]
EP PetroEcuador, Politécnica Nacional Sign Deal
(Energy Analytics Institute, Ian Silverman, 10.Jul.2018) â EP PetroEcuador and the Escuela PolitĂ©cnica Nacional (EPN by its Spanish acronym) signed an Inter-institutional Technical Cooperation Agreement that relates to the early detection of seismic or volcanic phenomena that may affect the transport, storage, refining and commercialization of hydrocarbons of the state […]
UDLA Students Visit Soil Treatment Center
(Energy Analytics Institute, Ian Silverman, 10.Jul.2018) â Nearly 27 engineering students studying Environmental Engineering and Biotechnology Engineering at Ecuador’s Americas University (Universidad de las AmĂ©ricas or UDLA by its Spanish acronym) visited the El Salado Soil Treatment Center, located in the province of Napo. The students visited the site with […]
PetroAmazonas EP Producing Close to 405 Mb/d
(Energy Analytics Institute, Ian Silverman, 5.Jul.2018) â Ecuadorâs PetroAmazonas EP actual production is close to 405,000 barrels per day (b/d). The companyâs average cost was $17.08 per barrel in May 2018, reported the entity in an official statement on its website. ***
Ecuador Cos Invest $400 Mln in Certificates
(Energy Analytics Institute, Jared Yamin, 4.Jul.2018) â The two electric companies from the South American country will invest a total of $400 million in Treasury Certificates. The companies, the Electricity Corporation of Ecuador (Celec by its Spanish acronym) and the National Electricity Corporation (Cnel by its Spanish acronym), will invest […]
Ecuador Looks to Avoid Issuing More Debt
(Energy Analytics Institute, Jared Yamin, 4.Jul.2018) â The South America country will explore other financial options to cover its deficit of some $9.5 billion. âWe donât believe itâs the best time for Ecuador to issue bonds,â reported the daily newspaper El Universo, citing announcements made by Ecuadorâs Finance Minister Richard […]
OPEC Ministerial Meeting in December
(Energy Analytics Institute, Piero Stewart, 25.Jun.2018) â Ministers from the Oil Exporting Countries Organization (OPEC) announced during meetings in Vienna, Austria that the 5th OPEC+ countries Ministerial Meeting will take place in the same city on December 4, 2018. ***
OPEC Planning to Boost Output by 1 MMb/d
(Energy Analytics Institute, Jared Yamin, 22.Jun.2018) â OPEC is looking to boost crude oil output by 1 million barrels per day (MMb/d). The production agreement goes into effect in July 2018, the Organization of Petroleum Exporting Countries (OPEC) announced today in Vienna, Austria. Ecuadorâs Hydrocarbon Ministry later published the details […]
OPEC’s Vienna Meeting: The Challenge of Failing NOCs
(The Council on Foreign Relations, Amy Myers Jaffe, 19.Jun.2018) â As energy ministers from major oil producing countries gather in Vienna this week to discuss the stability of global oil markets, the variables that will dictate outcomes have rapidly shifted. Pre-meeting narratives that previously focused on the appropriate level of […]
PetroAmazonas Production Costs Below $20/bbl
(Energy Analytics Institute, Aaron Simonsky, 15.Jun.2018) â Production costs at the state entity remain below the $20 per barrel mark. PetroAmazonas EPâs production costs rose slightly to $17.01/bbl in May 2018, up sequentially from $16.46/bbl in April 2018. For the first five months of 2018, the companyâs production costs have […]
PetroEcuador Activities Normal After Earthquake
(Energy Analytics Institute, Aaron Simonsky, 15.Jun.2018) â Ecuadorâs EP PetroEcuador announced all its activities continue under normal conditions after a magnitude 5 earthquake was reported this morning in Ecuador. The epicenter was identified as Nobol (Guayas), the state entity reported in a Twitter posts. ***
Ecuador Oil Output at 519 Mb/d in May 2018
(Energy Analytics Institute, Jared Yamin, 15.Jun.2018) â Ecuadorâs production of crude oil reached 519 thousand barrels per day (Mb/d) in May 2018, up compared to 518 Mb/d in April 2018, the Organization of Petroleum Exporting Countries (OPEC) reported in its monthly oil report. Ecuador, one of only two OPEC member […]
Venezuela Oil Output Slides to 1.4 MMb/d in May 2018
(Energy Analytics Institute, Piero Stewart, 14.Jun.2018) â Venezuela’s oil production continues its downward slope. Venezuelaâs crude oil production fell to 1.392 million barrels per day (MMb/d) in May 2018, according to a recent report by the Organization of Petroleum Exporting Countries (OPEC), citing data from secondary sources. This compares to […]
Ecuador Producing 522 Mb/d of Crude Oil in late May 2018
(Energy Analytics Institute, Jared Yamin, 29.May.2018) â- South Americaâs Ecuador is producing 522,372 barrels per day. Total crude oil production from the small OPEC member nation was 522,372 barrels per day (b/d) on May 28, 2018, according to data posted in a report available on the website of the Ecuadorâs […]
Energy, Education, and Learning Through NRG ED
(Energy Analytics Institute, Aaron Simonsky, 24.May.2018) â Energy Analytics Institute, formerly LatinPetroleum Inc., continues to promote its âEnergy Education Initiativeâ in the Americas, also known as âNRG ED.â NRG ED is structured to work with K-12 schools, community colleges, four-year colleges and universities, workforce training programs, communities and businesses, and […]
ECLAC Ssays Venezuelaâs Economic Activity to Fall 8.5% in 2018
(Energy Analytics Institute, Aaron Simonsky, 1.May.2018) â The United Nations Economic Commission for Latin America and the Caribbean, also known as ECLAC or CEPAL by its Spanish acronym, projects economic activity in troubled Venezuela will contract 8.5% in 2018. Gross domestic product or (GDP) estimates for other important countries and […]
Pampa EnergĂa Announces Settlement Agreement in Ecuador
(Pampa EnergĂa S.A., 19.Mar.2018) â Pampa EnergĂa S.A. announced that regarding the conflict that EcuadorTLC (a subsidiary company established in the Republic of Ecuador and which Pampa holds a 100% ownership directly and indirectly) held with other members of the Bloque 18 Consortium (the âPlaintiff Partiesâ) against the Republic of […]
Shushufindi Plant Has 20 Mb/d LPG Capacity
(Energy Analytics Institute, Clifford Fingers III, 10.Mar.2017) â Ecuador’s Shushufindi refinery has the capacity to bottle or fill 20,000 cylinders per day of liquefied petroleum gas or LPG, Ecuador’s Hydrocarbon Ministry wrote in a twitter post, citing Oil Minister Jose Icaza Romero during a visit to the plant. ***
ICSID Orders Ecuador Pay ConocoPhillips $380 Mln
(ConocoPhillips, 8.Feb.2017) â ConocoPhillipsâ wholly owned subsidiary, Burlington Resources Inc., received an arbitration award of $380 million from an international arbitration tribunal, constituted under the International Centre for the Settlement of Investment Disputes (ICSID), for Ecuadorâs unlawful expropriation of Burlingtonâs significant investment in breach of the U.S.-Ecuador bilateral investment treaty. […]
Ecuador Announces $1 Billion Bond Placement
(Energy Analytics Institute, Ian Silverman, 16.Jan.2017) â Ecuador, the only other Latin American country to belong to the Organization of Petroleum Exporting Countries (OPEC), successfully completed a $1 billion bond placement, announced President Rafael Correa in an official Twitter post. The bonds, placed on January 10, 2017, have an annual […]
PetroEcuador Reports Increase In Shareholder Equity
(Energy Analytics Institute, 27.Jun.2016, Clifford Fingers III) â EP PetroEcuador announced its Shareholder’s Equity rose to $5.659 billion in 2015 compared to $3.914 billion in 2014, reported the state company in an official statement. The company’s total assets rose to $9.662 billion in 2015 compared to $8.604 billion in 2014. […]
Ecuador’s SOTE Pipeline Spans 503 Kms
(Energy Analytics Institute, 27.Jun.2016, Clifford Fingers III) â Ecuador’s SOTE pipeline spans 503 kilometers from the pumping station Lago Agrio No. 1 in the Amazon to the Balao Maritime Terminal in the province of Esmeraldas, announced EP PetroEcuador in an official statement on its website. ***
Ecuador’s SOTE Celebrates 44 Years of Operation
(Energy Analytics Institute, 27.Jun.2016, Clifford Fingers III) â The TranEcuadorian Oil Pipeline (SOTE by its Spanish acronym) was inaugurated on June 26, 1972 with a capacity to transport 250,000 barrels per day. During its active life, the pipeline has transported 4,750 million barrels of oil, EP PetroEcuador announced in an […]
PetroEcuador to Export No. 6 Fuel Oil in July
(Energy Analytics Institute, 27.Jun.2016, Clifford Fingers III) â Trafigura PTE LTD won a bid by EP PetroEcuador whereby the former will export 950,000 barrels of No. 6 Fuel Oil, announced EP PetroEcuador in an official statement on its website. The winning bid had a $1.49 per barrel discount. The shipments […]
EP PetroEcuador Lays Out Goals for 2016
(Energy Analytics Institute, 27.Jun.2016, Clifford Fingers III) â EP PetroEcuador revealed some of its goals for 2016, reported the state company in an official statement. The goals for 2016 include, but are not limited to the following: — Operation of product pipeline Pascuales Cuenca, — Company restructuring, — Construction of […]
PetroEcuador Helps Control Fuel Oil Spill
(Energy Analytics Institute, 24.Jun.2016, Clifford Fingers III) â EP PetroEcuador turned over formal activities related to the containment, cleaning and monitoring along the Daule river, kilometer 24 in the Merced sector of Guayaquil to the company Balsasud Balsera Sudamericana, reported the state oil company in an official statement on its […]
Ecuador Permits Alcoholic Beverages at Service Stations
(Energy Analytics Institute, 21.Jun.2016, Clifford Fingers III) â Ecuador has decided it will allow its service stations to again distribute alcoholic beverages. The distribution of alcoholic beverages at the stations will have some restrictions, reported the daily El Universo, citing Ecuador’s Interior Vice-Minister Diego Fuentes. The beverages cannot be consumed […]
Ecuador Oil Output 556 Mb/d in May 2016
(Energy Analytics Institute, 21.Jun.2016, Clifford Fingers III) â Ecuador’s oil output reached 556,000 barrels per day in May of 2016, up sequentially from 555,000 barrels per day in April of 2016, reported the Organization of Petroleum Exporting Countries (OPEC) in its June 2016 Monthly Oil Market Report (MOMR), citing data […]
Three Companies Interested in Esmeraldas Overhaul
(Energy Analytics Institute, 16.Jun.2016, Clifford Fingers III) â Three companies, Adelca, Novacero and Practipower, presented their bids to buy an estimated 6,500 tons of salvage left over from the Esmeraldas Refinery overhaul. A total of 29 companies from Ecuador were qualified to present bids for salvage from the Esmeraldas Refinery […]
Esmeraldas Overhaul to Reduce Imports by Nearly $355 Mln
(Energy Analytics Institute, 8.Jun.2016, Clifford Fingers III) â Ecuador will benefit financial from the recently completed overhaul of the Esmeraldas refinery. The country will save more than an estimated $1 million per day due to the decrease in fuel and derivative imports which will translate into an annual savings of […]
PetroEcuador Provides Infrastructure Update
(Energy Analytics Institute, 1.Jun.2016, Clifford Fingers III) â At year-end 2015, EP PetroEcuador had the following infrastructure in Ecuador: 10 product pipelines, 8 fuel terminals and 5 maritime terminals, reported the state company in an official statement. Table: Ecuador Products Pipelines Shushufindi â Quito Esmeraldas â Quito â Pascuales Quito […]
PetroEcuador Gasoline Network of 276 Service Stations
EEnergy Analytics Institute, 1.Jun.2016, Clifford Fingers III) â EP PetroEcuador has a gasoline network comprising 276 service stations, reported the state company in an official statement. PetroEcuador affiliates operated 215 of the service stations while PetroEcuador operated 7 alone. The state oil company also has 12 artisan fishery stations as […]
PetroEcuador Says Tax Increase Not to Affect Fuels
(Energy Analytics Institute, 1.Jun.2016, Clifford Fingers III) â The price of Extra Gasoline, Extra Gasoline with Ethanol, Diesel 1, Diesel 2, Premium Diesel and LPG will not be affected by a temporary 2 percent increase in the sales tax to 14 percent from 12 percent, reported EP PetroEcuador in an […]
Ecuador Seeks Foreign Investors for Pacific Refinery
(Energy Analytics Institute, 1.Jun.2016, Clifford Fingers III) â Ecuador’s President Rafael Correa named Horacio YĂ©pez Maldonado as the country’s new ambassador to seek financing for the Pacific Refinery with the assistance of foreign investors. Correa signed Decree 1063 on May 31, 2016 which stipulated that Maldonado seek financing for the […]
El Aromo Area Considered Seismic Zone
(Energy Analytics Institute, 30.May.2016, Clifford Fingers III) â The El Aromo area, where the Pacific Refinery will be located, near Manta in ManabĂ is considered a seismic zone by Seismologist and Volcanologist Hugo Yepes. “This is a seismic zone with a history as noted and demonstrated with a large earthquake […]
PetroEcuador Reports 79% Decline In EBITDA
(Energy Analytics Institute, 25.May.2016, Clifford Fingers III) â EP PetroEcuador reported operational revenues of $9.284 billion in 2015, down $6.458 billion or 41 percent compared to $15.742 billion in 2014 due to variations in international oil prices, reported the state company in an official statement. Operational expenses were $8.209 billion […]
San Mateo Petrol Station Starts Operations
(Energy Analytics Institute, 25.May.2016, Clifford Fingers III) â The artisan fishing and ship vessel diesel station in San Mateo, located in the province of ManabĂ, started operations on May 19, 2016 and will benefit an estimated 1,106 artisanal fishers in the area, reported EP PetroEcuador in an official statement on […]
Ecuador to Investigate Officials for Possible Fraud
(Energy Analytics Institute, 11.May.2016, Clifford Fingers III) â A number of public officials are under investigation for irregularities related to declaration of goods and links with companies created in tax havens. The officials being investigated include: PetroEcuador’s former General Manager Ălex Bravo Panchano, current PetroEcuador General Manager Pedro Merizalde and […]
La Libertad Refinery Fire Controlled With No Injuries
(Energy Analytics Institute, 11.May.2016, Clifford Fingers III) â A fire at the Parson plant of the La Libertad refinery, located in the Santa Elena province, was controlled within five minutes. The fire was caused by a leak at a cargo pump which caught fire when it contacted a hot surface, […]
La Libertad Refinery Starts Preventative Maintenance
(Energy Analytics Institute, 11.May.2016, Clifford Fingers III) â The La Libertad Refinery started preventative maintenance on May 15, 2016, reported EP PetroEcuador in an official statement on its website. ***
Ecuador Starts Exploitation Activities at Tiputini
(Energy Analytics Institute, 9.May.2016, Clifford Fingers III) â Ecuador starting exploitation activities at the Tiputin field, part of the YasunĂ ITT block in July 2016, reported the news agency AFP, citing a statement from the country’s Hydrocarbon Ministry. The Tiputini 04 well in Block 43 has estimated potential to produce […]
Ecuador Output Averaged 542 Mb/d in 1Q:16
(Energy Analytics Institute, 9.May.2016, Clifford Fingers III) â Ecuador, the smallest country within the Organization of Petroleum Exporting Countries or OPEC, exported an average 542,000 barrels per day in the first quarter of 2016, down slightly from 543,000 barrels per day produced in the first quarter of 2015, reported the […]
PetroEcuador Highlights Benefits of Esmeraldas Workover
(Energy Analytics Institute, 19.Apr.2016, Clifford Fingers III) â EP PetroEcuador stands to gain the most from the recent workover to the Esmeraldas Refinery, reported the state company in an official statement. The primary benefit includes recuperating the 110,000 barrel-per-day capacity as well as increasing processing capacity, efficiency, and continuity while […]
FACT SHEET: PetroEcuador refineries have 175 Mb/d capacity
HOUSTON, TEXAS (Clifford Fingers III, Energy Analytics Institute, 5.Apr.2016, Clifford Fingers III, Words: 88) â EP PetroEcuador’s 3 refineries — Esmeraldas, La Libertad and Shushufindi — had a combined processing capacity of 175,000 barrels per day (b/d) at year end 2015, reported the state company in an official statement. The […]
PascualesCuena Product Pipeline Online in May 2016
(Energy Analytics Institute, 5.Apr.2016, Clifford Fingers III) â Construction of the Pascuales-Cuenca product pipeline will allow EP PetroEcuador to develop a LPG transport and distribution system to supply the southern region of the country, reported the state company in an official statement. Construction of the pipeline will also allow the […]
PetroEcuador Exports Reached 131.4 MMbbls in 2015
(Energy Analytics Institute, 5.Apr.2016, Clifford Fingers III) â EP PetroEcuador reported crude exports of 131.4 million barrels (MMbbls) in 2015, which generated revenues of $5,477 million, reported the state company in an official statement. Derivative sales in the Ecuadorian domestic market were 92.7 MMbbls, which generated revenues of $3,440 million. […]
Ecuador Considers Venezuela as Partner in Refinery
(Energy Analytics Institute, 30.Mar.2016, Clifford Fingers III) â While Ecuador continues to seek financing from foreign investors looking to invest in the estimated $13 billion Pacific Refinery project, the country continues to reserve an interest for Venezuela. “Venezuela is part of the project and is a strategic partner that will […]