Ecuador receives $ 365.9 million less because of fall in oil prices

During the first 23 days of January, Ecuador stopped receiving about $ 365.9 million because of the falling in oil prices. The country has exported a crude of $ 40.89 so far this January, as indicated by the National Information System (SIN for its Spanish acronym), which publishes the theoretical prices of EP Petroecuador.

The government, meanwhile, said it expected to receive $ 79.7 per barrel according to the 2015 Budget, said Fernando Santos Alvite, former Minister of Energy, adding that the calculation is obtained by considering that the exports established in the proforma are of 154.3 million barrels per year, ie, about 12.8 million barrels per month.

Santos said that the decline could be even higher if considered that the theoretical prices are not final and due to the new calculation formula, the ASCI uses as marker, the punishment would be greater.