Ecuador State Oil Firm Reopens Oil Pipeline, Resumes Exports After Protests
QUITO (Reuters) — Ecuadorean state oil company Petroecuador said it has resumed shipping on a major oil pipeline and has resumed crude exports after anti-government protests this month forced it to declare a force majeure.
On Oct 9 Ecuador shut down its Trans-Ecuadorean Pipeline System (SOTE) and halted crude sales because at least 20 fields had suspended operations amid the demonstrations.
“All exports that were suspended will be rescheduled in the coming days to comply with all the obligations that the company maintains,” Petroecuador said in a statement.
The protests that began on Oct 3 killed about 8 people, according to the government ombudsman, besides causing damage to private property and oil infrastructure.
President Lenín Moreno repealed the elimination of diesel and gasoline subsidies after the violent protests led by the indigenous movement.
Ecuador lost 1.5 million barrels of crude oil production between Oct 7 and Oct 13, official data shows.
Petroamazonas, which is also state-owned, has said it will need $48.4 million to repair damages.
Before the protests, Ecuador produced about 545,000 barrels per day (bpd). Moreno’s government has decided that Ecuador will withdraw from OPEC in January in order to boost production.
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