Ecuador's Jan.-May oil exports rise 100 % on year

Jul 09, 2010 02:00 AM

Ecuador's crude oil export revenue totalled $ 3.6 bn for the January-May period, a 100 % increase from $ 1.8 bn a year earlier, due to higher oil prices, the central bank reported.
The average price of crude in the five month period jumped 99 % to $ 71.44 per barrel from $ 35.90 a barrel in the 2009 period.

By volume, Ecuador exported 50.24 mm barrels in the first five months of this year, slightly down from 50.65 mm barrels registered last year. That translates into exports of 332,742 bpd between January and May from 335,417 bpd a year earlier.
According to the official data, of the total exported by the country, 11.29 mm barrels, or 22 %, were sold by private companies operating in Ecuador, bringing in revenue of about $ 801 mm. The remainder was exported by state-run PetroEcuador.

All figures have been rounded.

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