• Why is Ecuador an importer of petroleum products?
  • As a result of insufficient domestic refining capacity to meet local demand, Ecuador is an importer of petroleum products, despite its production of crude oil and petroleum liquids. In general, Ecuador exports heavy refined products, such as fuel oil, and imports lighter products, including gasoline, diesel, and liquefied petroleum gas (LPG).
  • Which oil company will sell oil to PetroChina?
  • The $1 billion loan agreement stipulated that Ecuador’s state oil company, Petroecuador, would sell crude oil to Petrochina, the world’s second-largest publicly traded oil corporation. The Repsol Oil station, at the entrance of Yasun¨ª National Park.
  • Which oil pipeline is used in Ecuador?
  • Ecuador¡¯s second oil pipeline is the OCP, transporting medium and light crude oils separately from heavy crude oils (Napo crude). 9 Approximately 70% of the country¡¯s crude oil travels through SOTE, and the remainder is transported through OCP. Ecuador has one transnational pipeline, the 190¨Cmile Oleoducto Transandino pipeline (OTA).
  • Is Ecuador considering a liquefied natural gas to power project?
  • According to media reports, 12 Ecuador is considering a liquefied natural gas (LNG) to¨Cpower project as domestic natural gas production will remain insufficient to meet domestic demand.
  • How much oil does Ecuador have?
  • As of January 2021, Ecuador had 8.3 billion barrels of proved crude oil reserves. Ecuador¡¯ oil reserves are the third largest in Latin America, after Venezuela¡¯s and Brazil¡¯s reserves. 1 Most of Ecuador¡¯s oil reserves are in the Oriente Basin located in the Amazon.
  • Why is Ecuador a major oil source?
  • Ecuador was the second¨Clargest source of foreign oil for the U.S. West Coast (PADD 5) in 2020, behind only Canada. 8 Consequently, Ecuador is a regionally significant source of oil for the U.S. West Coast, which is isolated from other parts of the continental United States because of few overland pipelines.