Economy & Business - March 2023

ECUADOR | Oil production slashed amid spill fears. Ecuador’s energy and mining ministry declared a force majeure in the oil sector on 23 February in response to a landslide in Quijos canton, in the northern province of Napo, which endangered two oil pipelines. State oil company Petroecuador halted oil flows through the state-owned trans-Ecuadorean pipeline system (SOTE) and the Shushufindi-Quito pipeline, which is operated by the private company Oleoductos de Crudos Pesados (OCP). The threatened stretches of pipeline were drained amid fears of an imminent rupture, and Petroecuador installed containment barriers and absorbent materials in preparation for a spill.

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