Advanced Search

LatinNews Daily - 11 March 2021

Click here for printer friendly version
Click here for full report

In brief: Ecuador hails additional revenue from oil exports

* Ecuador’s state-owned oil company Petroecuador has announced that it will earn an extra US$422.4m in the first quarter of 2021 through international exports of its ‘Napo’ and ‘Oriente’ crude oil from Amazon production fields. Petroecuador cites the increase in the price of West Texas Intermediate (WTI) as the reason for this extra revenue, with the price of WTI fluctuating between US$48 and US$63 per barrel, above the US$37 per barrel price predicted by Ecuador’s economy ministry. Petroecuador projects revenues from international oil sales to total US$1.6bn in Q1 2021.