The oil in the Yasuni park loses its appeal

Image: Expreso

Expectations for oil exploration in Yasuní have faded due to falling oil prices. The four-year program of the Ministry of Finance put its hope in the exploitation of the Tiputini and Tambococha blocks in the medium term. By 2017, the document states that the total production of oil resources would increase from 3,908,000 dollars to 6,224,000 dollars

The following year, the macroeconomic projections of Finance Minister Fausto Herrera ensured that oil revenues would total 6.185 million dollars.

Finances estimates, backed by Petroamazonas projections were made on the basis of a barrel of oil above $ 76. A price that is not expected for the coming years.

Herrera explained that, in 2016 for example, the estimated per barrel will be less than $ 40. Almost half of that projected last year, for crude from the nature reserve. JP Morgan, USB and other international consulting firms see no crude above $ 50 in the coming months.

Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8596587&idcat=38269&tipo=2