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Ecuador suspends oil exports after bridge collapse

by News Wires
February 25, 2023
in World, Business
Ecuador suspends oil exports after bridge collapse 12 - Egyptian Gazette
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QUITO – Ecuador said Friday it would partly suspend crude exports while carrying out safety checks on two Amazon pipelines following a bridge collapse.

State company Petroecuador, responsible for 78 percent of the country’s total crude extraction of some 481,000 barrels per day in 2022, said two wells were being progressively shut down after a bridge collapsed over the Marker river in Napo province, near its two pipes.

The lines were not affected but the company has suspended selected operations as a precaution. It hopes to start pumping again in a week’s time.

The government declared “force majeure,” meaning the company will not face penalties for failing to meet client orders.

Petroecuador has not specified when and how long exports would be affected, but said it would keep clients informed.

Crude oil is the South American country’s main export — making up two-thirds of its total production last year and generating about $10 billion, or 10 percent of GDP.

Tags: crude oilEcuadorOil exportsTop_News

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