Correa: Total petroleum income for the state budget is 18.57%

President Correa said that the gross income from petroleum uses amounts to 16,960 million, however only 18.57% of total oil income comes to General Budget. According to the president, 34% of income is consumed in the production process itself intended for oil product imports and...

Export of Venezuelan oil to China will be doubled

The President of China Xi Jinping arrived today at Venezuela for a state visit of 24 hours to strengthen partnerships between the Asian and the South American country. During the visit of President Xi Jinping, the executive Vice President Jorge Arreaza, reported that they expect...

Esmeraldas Refinery will be renovared from July

The Esmeraldas refinery provides to totally renovate its plant, for which it will suspend its activities from October to November of this year. Pedro Merizalde, Minister of Non-Renewable Natural Resources, estimates that the modernization project will start on 12th July and will...

Crisis between Russia and Ukraine generates increase in oil prices

West Texas Intermediate petroleum (WTI), which is ready for delivery in May, increased $ 2.12 up yesterday to settle at $102.56 per barrel, its highest level in a month. Market researchers believe that traders are concerned about a disruption in the supply of Russian gas to...
Contamination in Sucumbíos

Community of Shushufindi reports oil spill

A creek that runs into the Shusshufindi river was contaminated after an oil spill generated by the rupture of a pipe from the Drago well. About ten families were affected because they do not have drinking water services and the creek was their source of water for food...