• How much oil is needed in Ecuador?
  • That is being exacerbated by declining production volumes. It is estimated that nearly half (Spanish) of Ecuador¡¯s projected 2021 oil output of 481,721 barrels per day is required to meet those obligations, leaving only 260,740 barrels per day able to be sold and generate government revenue.
  • Can Ecuador sustain oil production without interruption?
  • This is essential if Ecuador is not only to sustain petroleum production without interruption but for growing output to the desired volume of 750,000 barrels per day. The latest outage, which is expected to last up to three weeks will significantly impact production volumes.
  • How much oil will Ecuador produce in 2021?
  • In early 2021, Ecuador¡¯s Energy Minister Rene Ortiz forecast (Spanish) a 2021 production target of 500,000 barrels of crude oil daily, which is 4% higher than the average 478,981 barrels pumped per day during 2020.
  • How much oil did Ecuador produce in 2023?
  • Energy Ministry data shows by February 26, 2023 (Spanish) Ecuador¡¯s oil production had fallen to 243,678 barrels half the daily average of 489,000 barrels per day pumped for January 2023. Related: Russia Is Intent On Defending Its Oil Market Share In India
  • What is wrong with Ecuador’s energy infrastructure?
  • The dilapidated state of Ecuador¡¯s energy infrastructure is highlighted by the country¡¯s three oil refineries being unable to process enough crude oil to meet domestic fuel demand.
  • What has happened to Ecuador’s oil industry?
  • Over the last decade it has been a wild ride for Ecuador¡¯s trouble-plagued but economically crucial oil industry. Former president Rafael Correa¡¯s heavy-handed policies, centered around oil nationalism and greater state control of the industry, deterred foreign energy majors from investing in the impoverished Latin American nation.