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Ecuador Political News

Ecuador to unleash more spot crude, fuel oil – Argus Media

State-owned PetroEcuador launched the first of four spot crude tenders planned for 2020, as it eyes ramping up spot supply to eight cargoes a month in 2024, the company’s commercial team tells Argus.

The sale tender issued late yesterday offers three 360,000 bl cargoes of medium sour Oriente for 14-16 March, 18-20 March and 19-21 March loading. Bids are due on 19 February.

After returning to the spot market in 2017 and leaving Opec last month, Ecuador is now laying the foundation for a more robust market presence derived from diminishing volumes locked into eight oil-backed debt contracts with Chinese state-owned PetroChina and Unipec, and Thailand’s state-controlled PTT. PetroEcuador is currently hoping to reprogram some of PTT’s supply. But even if that does not happen, more crude will become available under the existing terms of the contracts, which expire by 2024.

To read the full article on Argus Media, click here.



Members of indigenous communities in the Amazon in Ecuador would like to know: What happened to the more than $20M reportedly raised on their behalf by now-disbarred NY lawyer Steven Donziger? #FollowtheMoney
#Factsmatter: An international arbitration panel found ‘no cogent evidence’ supporting #Ecuador’s claim that #Texaco failed to comply with terms of remediation in #Amazon.
The @WSJ sums this case up nicely, “[Steven Donziger] and his team fabricated evidence, promised $500,000 to an #Ecuadorean judge to rule in their favor, ghostwrote much of the final verdict and took other actions that ‘perverted’ the course of #justice. Mr. Donziger disputes the…
Shameless. Disbarred and convicted of criminal contempt of court for bribing an Ecuadorian judge in an attempted extortion scheme, @SDonziger is nonetheless accepting invitations to speak at #climate rallies. Read more about this adjudicated racketeer:
Sworn testimony: While Texaco met its environmental obligations in the Amazon, #Ecuador’s national oil company did “absolutely nothing” to address its own remediation in the area. #FactsMatter:

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