Ecuador Oriente Crude $24.93/Bbl Dec.16; Napo $19.43/Bbl
Friday December 19th, 2008 / 21h08
QUITO -(Dow Jones)- The average price of Petroecuador's Oriente crude oil for export was $24.93 per barrel on Dec. 16, down nearly 6% from $26.41 per barrel Dec. 9, Petroecuador said Friday.
Petroecuador also exports Napo crude from former Occidental Petroleum Co. (OXY) fields, which were seized in May 2006.
The government seized Block 15, the Eden-Yuturi and the Limoncocha fields May 15, 2006, claiming Occidental had broken the terms of its operating contract.
The average price of Napo crude oil for export was $19.43 per barrel Dec. 16, down 7% from $20.92 per barrel Dec. 9, according to Petroecuador.
Ecuador typically exports 120,000 barrels per day of Oriente crude and 60,000 barrels per day of Napo crude.
Crude oil is Ecuador's main export. The oil price estimate in the country's 2008 fiscal budget is $45 per barrel.
-By Katerine Erazo, Dow Jones Newswires; 5938-4638-528; mercedes.alvaro@dowjones.com
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