Petroecuador closed the week of higher production of oil

Ecuadorian oil production reached 536.643 barrels per day (bpd) last week, the highest level in the year, said Ecuadorian State oil company.

Petroecuador said yesterday that exports totaled 58.7 million barrels of oil in the first half of the year, growth slightly higher than the volume registered in the same period in 2012.

Ecuador’s  turnover in oil sales in the first six months of the year of 2013 were $5 742 million, with its Oriente type oil, an average of $99,13 per barrel and the Napo crude with an average of  $94,61 in the studied period, said Petroecuador.

Oil revenues are one of the main sources of funding of Ecuador, although the Government is seeking to diversify its economy to rely less on oil sales.