This page provides the latest reported value for - Ecuador Crude Oil Production - plus previous releases . Ecuador Oil & Power 2022 is held in Quito, Ecuador, from 11/9/2022 to 11/9/2022 in Centro de Convenciones Metropolitano. On average, economic activity grew at a weaker annual pace than in 2021. The Expo-Conference Ecuador Oil & Power, has allowed professionals, specialists, technicians and foreign oil and gas companies from all around the world to. Ecuador Economic Outlook. Ecuador's Oil Production Dinged by Social Unrest. Ecuador produced 483,000 barrels per day (b/d) of petroleum and other liquids in 2020, . Correa's initiative proposed to leave . oil production activities in the ITT fields in recent years, contributing to stagnant production growth. Petroecuador accounts for 80pc of output. [3] Contents The economy seemed to slow in Q1. The country relies heavily on oil export revenue; in 2020, Ecuador exported over 70% of the crude oil. According to Global Trade Tracker, Ecuador exported 360,000 b/d of crude oil in 2020. Crude Oil Production in Ecuador averaged 372.98 BBL/D/1K from 1973 until 2022, reaching an all time high of 563 BBL/D/1K in November of 2014 and a record low of 0 BBL/D/1K in April of 1987. The hydrocarbon sector was adversely affected by road blockades and the seizure of oil wells in the country's Amazon region, Xinhua news agency quoted . From January to September 2020 (latest information available), FDI flows to Ecuador amounted to USD 897 million, 45 percent more than 2019 levels (USD 619 million) but still 36 percent lower than 2018 levels (USD 1.4 billion). Approximately 781 wells operated by Petroecuador and private entities have been shut in while . $1,555.00. Quito Ecuador's plans to double its oil production to 1 million barrels per day by 2025 will be delayed by a temporary moratorium on some areas agreed this month with indigenous groups, the country's energy minister told Reuters. argusmedia.com 02 07 2022 The maximum level was 563 BBL/D/1K and minimum was 0 BBL/D/1K. Production climbed to 12.1 million b/d for the week ended June 24, up 100,000 b/d week/week, according to the EIA's Weekly Petroleum Status Report (WSPR). Crude Oil Production in Ecuador decreased to 409 BBL/D/1K in June 2022. 1 min read (Reuters) -Ecuador could suspend oil production completely within 48 hours over "acts of vandalism, taking over wells and closing roads", the Energy. Crude Oil Production in Ecuador decreased to 409 BBL/D/1K in June from 495 BBL/D/1K in May of 2022. How much oil does Ecuador produce? 2 min. (Energy Analytics Institute, 3.Jul.2022) Energy briefs including Ecuador's crude oil production reaching 461,637 barrels per day on 3 July 2022, according to details provided by the country's Ministry of Energy and Mines. Ecuador consumes 0.66 gallons of oil per capita every day (based on the 2016 population of 16,491,116 people), or 241 gallons . The latest formula from Minister Cueva was that . More positively, the agricultural, construction and services sectors grew strongly. Lasso's new center-right government, which has set out to reform Ecuador's . The tiny Andean nation with a population of nearly 18 million has struggled for years to grow its hydrocarbon sector as a means of bolstering a fragile economy that has been . 6/26/2022, 8:50:44 PM. 0. Quito, Ecuador - On October 18th, 2021, hundreds of Indigenous elders, youth, and leaders arrived in the capital city of Quito, having journeyed from their communities deep in the Amazon rainforest, to file the first in a series of lawsuits against Ecuador's President, Guillermo Lasso, a right-wing former banker. June 14, 2022. June 27, 2022. The drop in oil production has deepened as the national strike progresses , called by the Confederation of Indigenous Nationalities of Ecuador ( Conaie ). More than two weeks of protests in Ecuador caused state-run oil company Petroecuador to lose 1.99 million barrels of oil . One of its most promising assets is the oil-rich Ishpingo-Tambococha-Tiputini block in the Amazon Basin, where Petroecuador plans to drill the bulk of a 40-well program in 2022. Production stems mainly from onshore projects in the Oriente Basin and is driven by conventional oil and heavy oil fields. Historical Data View and export this data back to 1973. Jul 25, 2022 In 2021, Ecuador's oil production amounted to 473 thousand barrels per day, slighlty down from 479 thousand barrels of oil daily in the previous year. Ecuador hopes to increase production to 580,000 b/d in 2022, including storage withdrawals and internal transfers, a 22pc increase over 2021 volumes. FDI continues to be lower compared to other countries in the region. Ecuador Oil & Gas News Monitoring Service from EIN News; Media Monitoring & Online News Monitoring of Ecuador Oil & Gas . As of the end of January 2022, this was estimated by the Ministry of Finance to amount to US$3.7 billion - and so these questions burn stronger than ever. Roads blocked during the ongoing protests in Ecuador have hindered oil production and could force a halt to output, the government says. Ecuador launched a $2 billion bidding process earlier this month for the Intracampos II blocks in the Amazon region, part of efforts by President Guillermo Lasso to boost production to 756,000 barrels of oil per day by 2025, from 490,000 bpd at present. QUITO, July 4 (Reuters) - Ecuador's oil output has recovered by about 90% since a deal between the government and demonstrators ended nationwide protests late last week, the ministry of mines. . Historical Data (BBL/D/1K) by years Data Period Date Historical Chart by presidents (BBL/D/1K) Its petroleum output is low compared to other OPEC member states; hence OPEC considers it among its small petroleum producers. Demonstrators carry makeshift shields during the tenth day of protests against the administration of Ecuadorian President Guillermo Lasso on June 22, 2022, in Quito, Ecuador. Crude Oil Production in Ecuador averaged 372.98 BBL/D/1K from 1973 until 2022, reaching an all time high of 563 BBL/D/1K in November of 2014 and a record low of 0 BBL/D/1K in April of 1987. . Projects for the next months This is a change of -1.36% from one year ago. June 27 (Reuters) - Ecuador could suspend oil production completely within 48 hours over "acts of vandalism, taking over wells and closing roads", the Energy Ministry said on Sunday, amid. The company produced about 3,600 b/d from the field and received about $28/bl since 2012. Exclusively available on IvyPanda Updated: Feb 2nd, 2022 Ecuador is a Latin American country belonging to OPEC (Organization of Petroleum Exporting Countries), a thirteen-member organization of oil exporters. Exploration and production (E&P). Ecuador consumes 259,000 barrels per day (B/d) of oil as of the year 2016. FocusEconomics panelists . But even that goal seems difficult to meet. [19] Meanwhile, in January 2022, a heavy crude oil pipeline burst in the same zone, causing the suspension of crude pumping. Ecuador's plans to double its oil production to 1 million barrels per day by 2025 will be delayed by a temporary moratorium on some areas agreed this month with indigenous groups, the country . The disruption was not fully resolved until June 2020. The US has said the Saudi-led OPEC+ decision to cut oil production by two million barrels a day, in a huge boost for Putin ahead of the European oil ban, shows it is aligning with Russia. The government of Ecuador is highly dependent on the revenues from the energy sector to support its budget and finance state projects. September 2022 production of 489,734 barrels per. APA reports quoting TASS that the statement came from the country's Ministry of Energy and Mining. Published on Oct 27, 2022 China strong demand driver for Peru fishmeal giant Tasa, but Ecuador shrimp boom showing promise Peruvian fishmeal and fish oil producer Tasa expects to see stable. Johanna Alarcon/Reuters By Catrin Einhorn Feb. 4, 2022 In a victory for Indigenous communities in Ecuador, the country's highest court ruled on Friday that they must have a far stronger say. Service on the pipeline was restored in late December 2021 following extensive repair work [18], but Ecuadorian oil production was not expected to return to normal levels until February 2022. Enter the characters shown in the image. Amid this, the government of Ecuador is planning to suspend oil production completely within 48 hours. Reuters October 19, 2022, 10:38 IST Stats Ecuador began pumping oil Wednesday from a massive field located partly on a protected nature reserve in the Amazon rainforest, drawing criticism from environmentalists and indigenous-rights . Data published Monthly by Organization of the Petroleum Exporting Countries. National oil production averaged 473,000 barrels per day between January and July 2022; that is, 5% less compared to the same months of 2021. Ecuador's petroleum output has essentially been stagnant for decades with its June 2021 production not much higher than the 420,000 barrels per day pumped during 2003. Basic Info Ecuador Crude Oil Production is at a current level of 472.87K, down from 479.37K one year ago. Ecuador could suspend oil production in 48 hours if the nationwide indigenous protests and road blockades continue, the Ministry of Energy and Mines said. Since June 13, protesters have refused to leave the streets of Ecuador amid demonstrations over the increasing cost of food, as well as the hike in fuel prices. It is for these reasons that Ecuador's oil industry is struggling to return to pre-pandemic production volumes and tempo of operations. 1073. Ecuador to halt pumping oil within 48 hours amid protests June 27, 2022 EnergyNow Media English Franais These translations are done via Google Translate (Bloomberg) Ecuador's oil production is likely to halt completely within 48 hours if road blocks and vandalizing of oil wells continue, the Energy Ministry said in an emailed statement. Ecuador's national oil company, Petroecuador, and OCP Ecuador have subsequently built bypasses for these two pipelines to avoid further disruptions in this landslide-prone area. The Ecuadorian energy ministry says the country will suspend oil production completely within 48 hours over acts of vandalism. The reason is the continuation of the protests that swept the country two weeks ago. In Ecuador, nationwide protests risk disrupting oil production, potentially impeding the country's economic growth . Ecuador's oil dependence has declined over the past few years of stagnant oil production, and it is now only a 6% share of GDP. The average oil price of $62 a barrel in 2021 has now jumped to $110a barrel ( Oriente crude as proxy). In addition, the Company's total current average production is approximately 30,000 BOPD. To date, the direct economic damage to Ecuador is estimated at around $45 million considering a WTI price of $100/bbl, according to state-owned Petroecuador, the country's main oil and gas producer. QUITO, March 11 (Reuters) - Petroecuador, Ecuador's state-owned oil company, on Friday said it will look to double production to 800,000 barrels of oil equivalent per day (boed) in the. For example, production went from 499,005 barrels of oil on June 12, 2022 to 494,373 barrels on June 13; that is, a drop of 4,632 barrels on the first day of the strike. January 4, 2022. 2022 Rainy Season (May - Oct) (Last Chart Updated on 10/25/2022) Subregions: Primary Production in Ecuador (>80% of total palm oil production) Costa (74% of total palm oil production) Sierra (17% of total palm oil production) Oriente (8% of total palm oil production) Stay Connected . Ecuador's total gross crude oil and condensate production in 2020 was valued at 483,240 barrels per day (bd), which is expected to show a declining CAGR of more than -1% during the period 2021-2025. 2022 Rainy Season (May - Oct) (Last Chart Updated on 10/07/2022) Subregions: Primary Production in Ecuador (>80% of total palm oil production) Costa (74% of total palm oil production) Sierra (17% of total palm oil production) Oriente (8% of total palm oil production) The oil-dependent South American country Ecuador, which left OPEC in January 2020 to avoid production quotas, has embarked on an ambitious plan to double its oil output. September 2022 production of 489,734 barrels per day was . The oil corporation is a significant part of the Ecuadorian economy. - Ecuador's oil and gas production outlook by . Protests Place Ecuador's Oil Production in Peril. An estimated 14,000 protesters are taking part in the nationwide. Ecuador expects to end 2022 with an oil production of some 540,000 barrels per day, according to Vera. In June 2022, two weeks of protests over fuel prices and lack of community consultation on mining and oil and gas projects left eight dead, with oil output half the pre-protest level of 500,000b/d by the time a deal was reached between the government and indigenous leaders at the end of June. Ecuador's economy is highly dependent on oil revenues, with 65 percent of output exported in the first four months of 2022. The government and indigenous groups inked the moratorium on 15 blocks in the southeastern Amazonian provinces of Pastaza and Morona Santiago - where there . Ecuador's total production peaks in 2022, increasing from 483 thousand barrels of oil equivalent (mboed) in 2020 to 527 mboed before declining 3.6% by 2025 to 508 mboed. The petroleum industry has expanded to the production of refined commodities such as gasoline, liquefied petroleum, and jet fuel. In Ecuador, oil production may be suspended for 48 hours due to protests Oil production in Ecuador may be suspended for two days. Source: Ministry of. LATIN AMERICA AND THE CARIBBEAN Ecuador Ecuador ranks 47th in the world for oil consumption, accounting for about 0.3% of the world's total consumption of 97,103,871 barrels per day. The oil sitting beneath the Ishpingo Tambococha Tiputini (ITT) oil fields at the eastern edge of Yasun was worth an estimated $7.2 billion in 2007 prices. A burst pipeline in Ecuador caused an oil spill within a protected area of the country's Amazon rainforest, the environment ministry said on Monday, adding that the pipeline operator will face . April 14, 2022 Ecuador expands oil extraction from Amazon reserve Credit: Pixabay/CC0 Public Domain Ecuador said Wednesday it had begun pumping oil from a third field located partly on a. The oil sector contracted due to natural disasters and lack of prior investment.