PetroEcuador Reports 79% Decline In EBITDA

Instant Max AI

(Energy Analytics Institute, 25.May.2016, Clifford Fingers III) – 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 in 2015, down $2.441 billion or 23 percent compared to $10.650 billion in 2014 due to the price of hydrocarbon imports. As a result, EBITDA in 2015 fell $4.017 billion or 79 percent to $1.075 billion compared to $5.092 billion, respectively.

After taking into account Depreciation, Depletion & Amortization (DD&A) and other operational expenses, PetroEcuador reported EBIT of $0.971 billion in 2015 compared to $4.999 billion in 2014. After taking into account non-operational results of ($0.219) billion in 2015 and ($0.192) billion in 2014, the company reported net results of $0.752 billion in 2015, down $4.055 billion or 84 percent compared to $4.807 billion in 2014.

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