Home Business An oil company loses 1.99 million barrels a day of production due...

An oil company loses 1.99 million barrels a day of production due to protests

0

Ecuador’s state-owned oil company (Petro Ecuador) said the two-week protests caused oil production losses of 1.99 million barrels per day.

And the company added in a press conference yesterday, Friday, which expects to reach 90% of pre-crisis production next week.

The company said the protests cost the company about $ 512.9 million, more than half of which was caused by a loss of production, while wasted exports cost about $ 110 million, according to Reuters.

The company added that it has restored 19,000 barrels per day of production since the protests ended Thursday and that the Esmeralda refinery operates at 70 percent capacity.

Protests organized by indigenous groups broke out on 13 June in Ecuador to demand lower fuel prices and restrictions on any further expansion of the mining and oil industries, resulting in at least 8 deaths and the destruction of oil production, the country’s main source of income. .

Read More About: Business News

NO COMMENTS

Exit mobile version