Ecuador even sold the oil it did not have in 2016 – Ecuador Times

In the last presale signed by Petroecuador with Petrotailandia, the previous government promised to deliver crude oil that it did not have. That contract raised oil delivery commitments during 2017 to 123.9 million barrels, despite the fact that the country only had 111 million available for export. The agreement with the Thai company was signed on December 1, 2016, by the then manager of Petroecuador, Pedro Merizalde, who is currently investigated by the Prosecutor’s Office, of course, money laundering. Read more>>