Ecuador Halts Oil Exports Following Bridge Collapse

Ecuador announced on Friday that it will partially suspend crude oil exports while it checks the safety of two Amazon pipelines following the bridge collapse.

State-owned Petro-Ecuador, which accounts for 78 percent of the country’s total crude oil production and produced about 481,000 bpd in 2022, said two wells will be gradually shut down after the collapse. bridge across the Marker River in Napo County next to two pipes.

The lines were not affected, but the company has stopped some operations as a precaution and hopes to resume pumping within a week.

The government has declared “force majeure”, which means the company will not be penalized for failing to fulfill customer orders.

Petro-Ecuador did not specify when or how this would affect exports, but said it would keep customers updated on the situation.

Crude oil makes up the bulk of Ecuador’s exports, and last year oil accounted for two-thirds of its total production and generated about ten billion dollars in revenues, accounting for 10 percent of gross domestic product.

Source: AFP.