Petroecuador Company News
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Ecuador Postpones Esmeraldas Refinery Maintenance Until March
Tuesday, August 21, 2018The outage had originally been scheduled to start in mid-August and last 54 days.
Ecuador to Offer Oil Blocks Under New Bidding Terms in Jan
Friday, October 06, 2017The new terms will allow producers to be paid in oil and enable them to export or sell the barrels to local refineries, said Carlos Perez at a conference at Rice University in Houston on Friday.
Kemp: Oil Price War Inflicts Collateral Damage in Latin America
Monday, February 09, 2015Latin America's oil producers have become caught in the crossfire between OPEC and the North American shale drillers.
Ecuador's Petroamazonas Seeks Partners to Boost Oil Output
Thursday, September 26, 2013Petroamazonas, a division of Ecuador's state-run oil company, says it is seeking to partner with companies that can help it boost production and increase reserves at 16 of Ecuador's oil fields.
Petroamazonas, Petroecuador to Merge Upstream Operation Soon
Thursday, November 15, 2012Petroamazonas has started to take over the E&P activities as well as the natural gas operations of Petroecuador, the country's deputy minister of hydrocarbons Ramiro Cazar said.
Ecuador, Venezuela Plan Joint Oil & Gas Exploration
Wednesday, April 04, 2012Petroecuador plans to establish in the coming months an alliance with its Venezuelan counterpart, PdVSA, to explore for O&G in Venezuela, said Petroecuador General Manager Marco Calvopina.
Petroecuador Aims to Produce 60M Barrels in 2012
Wednesday, December 28, 2011Petroecuador expects to produce 60 million barrels of oil in 2012, the Ecuadorian state-owned oil company's general manager says during a press conference.
Petroecuador, PdVSA to Invest $1.27B in Sacha Oil Field
Tuesday, November 01, 2011Rio Napo, a JV of Petroecuador and PdVSA will invest about $1.27B in the Sacha oil field during the next 15 years, said Petroecuador's GM Marco Calvopina.
Petroecuador Sees Ecuador Producing 181M Barrels Of Oil in 2011
Wednesday, December 29, 2010Petroecuador said it expects Ecuador to produce 181 million barrels of oil in 2011, up 7.7% from 168 million barrels produced in 2010.
Venezuela, Ecuador Exploring for Gas in Gulf of Guayaquil
Thursday, October 08, 2009Venezuela and Ecuador's state energy firms are exploring a test well in Ecuador's Gulf of Guayaquil, with expectations of finding up to 1.3 trillion cubic feet of natural gas.
Ecuador's Petroamazonas to Develop Four Oil Fields in '09
Tuesday, March 31, 2009Ecuadorian state-owned Petroamazonas plans to develop four oil blocks this year, and will drill around 14 wells in Panacocha field, which is expected to produce up to 25,000 barrels per day.
Ecuador Seeks $280MM Line of Credit from Iran for Oil Projects
Thursday, January 08, 2009Ecuador plans to seek a $280 million line of credit from Iran to finance pipeline and other oil-sector related projects.
SCAN Inks 2D Seismic Acquisition Deal for Offshore Ecuador
Tuesday, December 16, 2008SCAN signed a contract with an affiliate of Petroecuador for 2D seismic services offshore Ecuador in support of the government's plan to develop its hydrocarbon prospects.
SCAN to Conduct 2D Seismic Program Offshore Ecuador
Monday, November 10, 2008SCAN has received a LOA from an affiliate of Petroecuador to acquire a major 2D seismic program offshore Ecuador in support of the government's plan to develop hydrocarbon prospects in the region.
Ecuador to Receive 60% of Oil Produced By Petrobras' Block 18
Monday, October 20, 2008Ecuador will receive an average of 60% of oil production for block 18, operated by Petrobras, up from the current 51%. Petrobras currently produces about 32,000 barrels of oil a day from block 18.
Ecuador to Sign 30-Year Contract with Ivanhoe for Pungarayacu Field
Wednesday, October 08, 2008Petroecuador and Ivanhoe Energy Ecuador, the local unit of Canada's Ivanhoe Energy, on Wednesday will sign a 30-year service contract to develop the Pungarayacu oil field.
Ecuador, Venezuela, Chile Plan to Explore Ayacucho Oil Field
Wednesday, August 27, 2008The state-run oil companies of Ecuador, Venezuela and Chile plan to establish a joint venture to explore oil in the Ayacucho 1 oil field, in Venezuela's Orinoco Belt, Ecuador Mines and Oil Minister Galo Chiriboga said Wednesday.
Wood Group Elects Blum as Ecuador General Manager
Tuesday, August 12, 2008Wood Group ESP has appointed Carlos Blum as Ecuador general manager. Blum will oversee the day-to-day operations of Wood Group ESP business in Ecuador and be responsible for maintaining its growth over time.
Chevron Advertisement Criticizes Goldman Ecuadorian Award Winners
Tuesday, April 15, 2008An honest conversation about the environmental problems in the Ecuadorian Amazon region is long overdue.
Ecuador Eyes Temporary Oil Contracts
Monday, April 14, 2008Ecuador's left-leaning president is seeking to increase state control of oil under the country's new constitution.
Ecuador Court Expert Recommends Chevron Pay $8.3B to $16B
Wednesday, April 02, 2008Chevron is facing a lawsuit in Ecuador for Texaco's alleged contamination of Lago Agrio. The judge presiding over the case can choose to accept or reject partially or fully the findings of the report. Chevron denies the allegations.
Petroecuador Eyes April Ivanhoe Deal To Develop Oil Field
Friday, March 07, 2008Petroecuador wants to sign in April an agreement with Canada's Ivanhoe Energy to develop and exploit the Pungarayacu oil field, Petroecuador President Fernando Zurita said Friday at a press conference.
Venezuela's War Talk Suggests More Trouble For Andean Oil
Monday, March 03, 2008Venezuela's President Hugo Chavez raised the possibility of a war between Andean neighbors Sunday in a heightening of political tensions that may spell trouble for the oil industries of two OPEC member nations.
Ecuador Plans to Nix Exploitation of 1B Bbl Oil Deposit
Monday, March 03, 2008Ecuador will seek allies from within the Organization of Petroleum Exporting Countries for a proposal to not develop what is believed to be its largest oil deposit.
Ecuador Oil Minister: Force Majeure Ends, Oil Production Resumes
Monday, March 03, 2008Ecuador Oil Minister Galo Chiriboga announced March 3 that the country has ended the force majeure on oil exports and resumed production.
Ecuador: Exports Won't be Affected by Rupture, Declaring Force Majeure
Friday, February 29, 2008According to Chiriboga, there are at least 80 meters of the SOTE pipeline affected by the landslide and around 4,000 barrels of crude have spilled.
Ecuador's Dec Oil Export Revenue Up 69% at $827.82 Million
Thursday, February 28, 2008In terms of volume, Ecuador exported 10.72 million barrels in the December, slightly more than the 10.68 million barrels shipped one year earlier.
Ecuador Reaches Agreements for 6 Out of 14 Oil Contracts
Wednesday, February 27, 2008After a military ceremony, Chiriboga told reporters that those agreements are with four of the five companies involved in the negotiations to modify their contracts.
Nationalization Bug Prepares to Bite in Ecuador
Monday, February 25, 2008Ecuador could arrive at an agreement with U.S-owned City Oriente to end its contract to produce crude oil in the Andean nation, Ecuador's Energy Minister Galo Chiriboga said Monday.
Venezuelan Drill Starts Operations in Ecuador
Monday, February 25, 2008The first Venezuelan 2,000 HP CPV-16 drill which arrived in Ecuador on December 24th, 2007, started operations in the Guanta 19 oil well located in Lago Agrio, an Amazonian province of Sucumbios, 180 kilometers northeast of Quito.
Ecuador Pinches Big Oil: 45 Days to Pay Up or Get Out
Monday, January 28, 2008Ecuador President Rafael Correa told oil companies operating in Ecuador they had three choices: sign agreements with the State for services, cough up 99% of surplus income from commercialization of oil, or end all operations in Ecuador.
Venezuela Oil Min: No Need For OPEC to Raise Output
Monday, January 07, 2008Venezuelan Energy Minister Rafael Ramirez says that there is no need for OPEC to raise its production, warning "the time of cheap oil is over."
Ecuador Gov't Removes Petroecuador Chief Carlos Pareja
Thursday, November 29, 2007President Rafael Correa has removed Carlos Pareja as president of state-owned oil company Petroecuador, replacing him with Fernando Zurita, Energy and Mines Minister Galo Chiriboga said Thursday.
Committee Greenlights Marginal Fields Contract Talks
Monday, September 24, 2007Ecuadorian state oil company Petroecuador's special tenders committee has authorized negotiations to proceed with the highest-ranked bidders for marginal oilfields.
Petroecuador to Launch Offshore Gas E&P Bidding in 2008
Friday, September 14, 2007Ecuador's state oil company Petroecuador early next year will launch bidding for natural gas E&P in the gulf of Guayaquil, the energy and mines ministry and presidential websites reported.
Ecuador to Begin Oil Contract Renegotiations
Thursday, September 13, 2007Ecuador's government plans to start renegotiating oil contracts, the energy and mines ministry said in a statement.
Official: Govt Asks IDB to Approve Petroecuador Loan This Year
Wednesday, August 29, 2007Ecuador's government has asked IDB to approve this year a US$285mn performance-driven loan to support state oil company Petroecuador's US $913 million multi-year investment program.
Hydrocarbons Group: New Minister Open to Dialogue
Tuesday, August 21, 2007Ecuador's new mines and oil minister Galo Chiriboga is open to sitting down and talking to international oil companies one by one, Rene Ortiz-Duran, executive president of Ecuador's hydrocarbons industry association said.
Petroecuador to Develop Panacocha
Monday, August 20, 2007The political board of Ecuador's Petroecuador has decided the state oil company will be in charge of production and development of the Panacocha field through its block 15 unit.
PDVSA, Petroecuador Pen MoU on Sacha Mature Field
Monday, August 13, 2007Venezuela's state oil company PDVSA and its Ecuadorian counterpart Petroecuador have signed an MOU to optimize production at the latter country's Sacha mature oilfield, Ecuador's President Rafael Correa said during a press conference.
Panacocha Could Enter Production Next Year
Friday, August 03, 2007Ecuador's Panacocha oilfield could start production next year, an E&P official with Petroproduccion, a subsidiary of state oil company Petroecuador, told BNamericas.
Ecuador to Appeal UK Court's Oxy Ruling
Friday, July 06, 2007Ecuador's government will contest a UK appeals court ruling in favor of US oil company Occidental that would oblige Ecuador to refund the company US$75mn of value added tax, the South American country's attorney general said in a statement.
Petroecuador to Foot 30% of Panacocha Project
Monday, July 02, 2007Ecuador's state oil company Petroecuador will finance 30% of a project to develop the Panacocha field, the company said in a statement.
Petroecuador, Pertamina Sign Deal on Ecuador Oil Projects
Monday, July 02, 2007Petroecuador has signed an agreement with Indonesian state-oil firm Pertamina on several projects to boost oil production in Ecuador.
Petroecuador Advances Panacocha, Amazon Projects
Thursday, June 14, 2007Ecuador's state oil company Petroecuador is taking steps to advance projects to develop the Panacocha field and to produce oil in Amazon blocks.
Petroecuador Output Back to Pre-May Levels
Monday, June 11, 2007Output from fields directly operated by Ecuador's state oil company Petroecuador in recent days have exceeded an average of 170,000b/d, the company said in a statement.
Ecuador to Examine Oil Contracts This Month
Thursday, June 07, 2007A report examining oil contracts between private companies and the state, aimed at allowing the government to eventually obtain a higher share of crude production, is expected this month, the deputy minister of energy said Thursday in an interview.
Petroecuador, CNPC Ink Strategic Alliance
Wednesday, June 06, 2007Ecuador's state oil company Petroecuador and its Chinese counterpart CNPC have signed a strategic alliance agreement to develop joint hydrocarbons activities.
Block 15 Costs Reach US$5.13/b in Q1
Friday, May 18, 2007First quarter operating costs at Ecuador's block 15 reached US$5.13/b, according to Wilson Pastor, CEO of the UB-15 temporary administration unit operating the block, which belongs to state oil company Petroecuador.
Petroecuador Plans to Militarize Oil Ops
Monday, May 14, 2007Ecuador's state oil company Petroecuador plans to sign an agreement next week with the nation's armed forces to protect all oil production operations in the country, Petroecuador said in a statement.