PetroAmazonas Archives - Energy Analytics Institute (EAI)

Fitch Affirms PetroAmazonas’ Debt at ‘C’

(Fitch, 7.May.2020) — Fitch Ratings has affirmed the senior unsecured notes issued by Empresa Publica de Exploracion y Explotacion de Hidrocarburos Petroamazonas EP (PetroAmazonas) due in November 2020 at ‘C’/’RR4’. The affirmation reflects the completion of the consent solicitation processing for which the company received valid consents from 98.91% of […]

Ecuador Oil Flow Falls, Pipeline Repairs Advance

(Argus, 15.Apr.2020) — Ecuador’s oil production dwindled to just 68,000 b/d on 13 April in the wake of weather-related pipeline ruptures last week, forcing state-owned PetroEcuador to reprogram most crude exports into May. PetroEcuador said it has pushed 10 crude export loadings from April to May as it works to […]

Ecuador’s New Minister Eyes $6.9bn In Investments

(Energy Analytics Institute, Piero Stewart, 22.Nov.2019) — Ecuador’s new oil minister José Agusto announced the South American country continues with plans for another bid round, while he added the country has also attracted investor interest in a new refinery. Ecuador, which recently experienced weeks of protests related to a failed […]

Ecuador Resumes Exports After Protests

(Reuters, 20.Oct.2019) — Ecuadorean state oil company Petroecuador said on Sunday it is resuming crude exports after protests this month against government austerity measures forced it to declare a force majeure. Ecuador on Oct 9 halted crude sales and shut a crucial state oil pipeline because at least 20 fields […]

Ecuador Halts SOTE Over Protests, Eyes Force Majeure

(Reuters, 9.Oct.2019) — Petroecuador halted operations of its Trans-Ecuadorean Pipeline System (SOTE) on Wednesday after anti-austerity protests choked off production from some oil fields it uses for stock, the energy ministry said on Wednesday. The state-run company’s pipeline, which normally transports 360,000 barrels per day to the Pacific Coast, was […]

Ecuador’s Government Crisis, Explained

(Bloomberg, Matthew Bristow and Stephan Kueffner, 8.Oct.2019) — Ecuador’s government abandoned the capital city, Quito, as demonstrators sabotaged oil installations and ransacked government offices and businesses over rising fuel costs. As violent unrest spread, President Lenin Moreno accused supporters of his predecessor, Rafael Correa, of trying to overthrow his government. […]

CONAIE And CONFENIAE Comment On Indigenous Mobilization

(CONAIE, 8.Oct.2019) — Indigenous peoples across Ecuador have mobilized against the central government’s neoliberal policies and extractive practices, as have workers unions, student unions and a diverse group of civil society. Our civil disobedience has included marches, road blocks, and the detention of military and police personnel accused of violence […]

Petroamazonas’ Production Peaked At 428,780 Boe/d In The First 4 Months Of 2019

(Energy Analytics Institute, Piero Stewart, 19.May.2019) — Petroamazonas EP’s production of crude oil in the first four months of 2019 peaked at 428,780 barrels per day of equivalents, up 5.42% compared to average production of 406,738 barrels per day of equivalents at the close of 2018, the company announced 19 […]

Ecuador President Mandates Merger of Petroamazonas And Petroecuador

(Energy Analytics Institute, Piero Stewart, 24.Apr.2019) — Ecuador’s President Lenin Moreno mandated on 24 April 2019 initiation of a process to merge oil companies Petroamazonas and Petroecuador. The deadline to comply with this process will be until 31 December 2020, reports online media El Comercio. *** © Energy Analytics Institute […]

EP PetroEcuador says Sacha field producing 70,000 b/d

PANAMA CITY, PANAMA (By Energy Analytics Institute, Piero Stewart, 18.Apr.2019, Words: 216) — Crude oil production from Ecuador’s Sacha Field, operated by PetroAmazonas and located in the province of Orellana in block 60, reached 70,021 barrels per day on 17 Apr. 2019, EP PetroEcuador announced in an official statement on […]

Ecuador’s Oil Production Climbs To 522 Mb/d In March 2019

(Energy Analytics Institute, Piero Stewart, 8.Apr.2019) — Ecuador’s production of crude oil rose to 522 Mb/d in March 2019 compared to 519 Mb/d in February and 517 Mb/d in January 2019, the country’s Energy Ministry announced 8 April 2019 in a post on its twitter account. Of the amounts in […]

Normal Heavy Oil Extractions Lift 80% Water, 20% Oil

(Energy Analytics Institute, Piero Stewart, 29.Nov.2018) — Normal procedures at heavy oil wells produce water extraction at greater proportions than crude oil, announced an official at Petroamazonas. To be precise, figures from Petroamazonas reveal that 80% of the extraction corresponds to water and 20% to oil, reported online media El […]

Ecuador, Peru In Talks To Explore Oil And Gas Blocks: Energy Minister

(Reuters, Alexandra Valencia, 11.Oct.2018) — Ecuador has begun talks with neighboring Peru to jointly explore two oilfields at the border and allow state-run Petroamazonas to operate natural gas areas in Peru, Ecuadorian Energy Minister Carlos Perez said on Thursday. Ecuador, which earlier this year awarded foreign and domestic energy firms […]

Ecuador Signs Deals Worth $1.62 Bln for Development of 6 Oil, Gas Fields

(Sputnik, 5.Oct.2018) — The government of Ecuador, represented by the state-run Petroamazonas energy company, signed investment contracts worth $1.62 billion for the development of six oil and gas fields, local media reported. The contracts concern the Cuyabeno-Sansahuari, Yuralpa, Oso and Blanca-Vinita fields, located in the provinces of Orellana, Napo and Sucumbios. […]

Ecuador’s ITT Output Around 60 Mb/d

(Energy Analytics Institute, Piero Stewart, 13.Jul.2018) – 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 Álex […]

PetroAmazonas EP Producing Close to 405 Mb/d

(Energy Analytics Institute, Ian Silverman, 5.Jul.2018) – Ecuador’s PetroAmazonas EP actual production is close to 405,000 barrels per day (b/d). The company’s average cost was $17.08 per barrel in May 2018, reported the entity in an official statement on its website. ***

PetroAmazonas Production Costs Below $20/bbl

(Energy Analytics Institute, Aaron Simonsky, 15.Jun.2018) – Production costs at the state entity remain below the $20 per barrel mark. PetroAmazonas EP’s 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 company’s production costs have […]