Olade to Audit Petroecuador Crude Output

Latin American energy organization Olade has agreed to conduct a study of oil production by Ecuador's state oil company Petroecuador, the latter said in a statement.

The details of the study have not been finalized. Olade executive secretary Alvaro Rios Roca was due to meet with Petroecuador representatives late on Tuesday, an Olade source told BNamericas.

Ecuador's national hydrocarbons department DNH has questioned Petroecuador's output figures, causing the company to request the Olade study.

DNH alleges Petroecuador includes water in oil production figures, thereby boosting its crude production reports 4% over DNH's since 1995.

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