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Ecuador's Oil Production Drops 45%

OIL
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Ecuador’s oil production has been hammered by protestors across at least 10 oil fields, dropping production by 45% to 275,921 bpd on 22 June from 499,005 bpd on 12 June according to energy regulator ARC.

  • The protests have asked for the government to reduce already subsidized fuel prices and provide other benefits to farmers.
  • The fields impacted are both privately operated as well as state owned PetroEcuador fields.
  • The ministry of energy said yesterday that 918 wells had to be shut in Sucumbios, Napo Orellana and Pastaza, provinces in the Amazonian region, because protesters had occupied or sabotaged the fields.
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Ecuador’s oil production has been hammered by protestors across at least 10 oil fields, dropping production by 45% to 275,921 bpd on 22 June from 499,005 bpd on 12 June according to energy regulator ARC.

  • The protests have asked for the government to reduce already subsidized fuel prices and provide other benefits to farmers.
  • The fields impacted are both privately operated as well as state owned PetroEcuador fields.
  • The ministry of energy said yesterday that 918 wells had to be shut in Sucumbios, Napo Orellana and Pastaza, provinces in the Amazonian region, because protesters had occupied or sabotaged the fields.