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Ecuador: Petroecuador head confirms force majeure on crude exports

BY MERCEDES ALVARO

QUITO -- The General Manager of Petroecuador, Marco Calvopina, confirmed the company has declared force majeure on oil exports.

Mr. Calvopina said Petroecuador expects to resume pumping its Sote pipeline. The pipeline was halted due to a rupture in a line.

A company executive told Dow Jones Newswires that the work could take three more days to be completed.

Petroecuador will send a shipment of 360 Mbbl of oil to PetroChina with oil that the Ecuadorian company has in stock. Another shipment of 720 Mbbl for PetroChina will also be sent soon.

In a press conference, Mr. Calvopina said that four other oil shipments of 360 Mbbl each could be rescheduled.

Mr. Calvopina also said there is enough crude in stock for local necessities.

Mr. Calvopina said that 120 Mbbl of crude from Petroecuador is being pumping through the private Oleoducto de Crudos Pesados pipeline.

The Sote pipeline stopped pumping due to a landslide near the Reventador Volcano. Mr. Calvopina said that more than 10 Mbbl of crude have been spilt.

The 503 km, 360 Mbpd Sote pipeline transports crude from main oil producing areas in the Amazon to an oil export terminal in Balao, located in Ecuador' s Esmeraldas province on the Pacific coast.

Dow Jones Newswires

06/04/2013

 

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