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Petroecuador information


Petroecuador
Native name
Empresa Pública de Hidrocarburos del Ecuador
Company typeGovernment-owned (Empresa Pública)
IndustryOil and gas
PredecessorCorporación Estatal Petrolera Ecuatoriana
FoundedQuito, Ecuador (September 26, 1989 (1989-09-26))
Headquarters
Quito
,
Ecuador
Productspetroleum
refined oil products
SubsidiariesPetroproduccion
Petroindustrial
Petrocomercial
Websitewww.eppetroecuador.ec

EP Petroecuador (Empresa Estatal Petróleos del Ecuador; Empresa Pública Petroecuador; meaning: State Petroleum Company of Ecuador) is the national oil company of Ecuador. Ecuador who is a member of the Organization of the Petroleum Exporting Countries (OPEC) and, although it is the smallest member,[1] the country produced 531,000 barrels of crude oil per day in 2019.[2] The oil corporation is a significant part of the Ecuadorian economy. The petroleum industry has expanded to the production of refined commodities such as gasoline, liquefied petroleum, and jet fuel. The government of Ecuador is highly dependent on the revenues from the energy sector to support its budget and finance state projects.[3]

  1. ^ "Special Report: How China took control of an OPEC country's oil". Reuters. 2013-11-26.
  2. ^ Alves, Bruna. "Oil production in Ecuador from 1999 to 2019". Statista. statista.com. Retrieved 26 January 2021.
  3. ^ "Overview". eia.

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