Ecuador: Petroecuador Nov Oil Exp Revenue Down 32% To $272.23 Million
Wednesday December 24th, 2008 / 16h20
QUITO -(Dow Jones)- Ecuador's state oil company Petroecuador on Wednesday reported oil export revenues of $272.23 million in November, a 32% decrease from $401.17 million in October, data from the company showed Thursday.
According to Petroecuador´s data, in terms of volume, Petroecuador exported 6.43 million barrels of crude oil in November, down 2% from 6.56 million barrels in October.
Petroecuador's exports total includes Napo crude from former Occidental Petroleum Co. (OXY) fields that where seized on May 15, 2006, claiming Occidental had broken the terms of its operating contract.
Exports of Oriente crude in November were 4.60 million barrels, while exports of Napo crude were 1.83 million barrels.
The average price of Oriente in November fell 34% to $41.76 a barrel from $63.32 in October. Napo crude prices fell 21% to $43.80 per barrel from $55.34 in October.
Figures have been rounded.
-By Katerine Erazo, Dow Jones Newswires; 5938-4638528; mercedes.alvaro@dowjones.com
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