Articles
Business intelligence and analysis on Ecuador
Petroecuador Awards 14.4 Million-Barrel Crude Export Contract Worth ~$645 Million to Unipec, Shell, PetroChina, and ENAP
Petroecuador awarded export contracts for 14.4 million barrels of crude oil -- 9.36 million barrels of Oriente and 5.04 million barrels of Napo grade -- to four international firms in tenders held February 5, 2026. The contracts, worth an estimated $645 million in state revenue, went to Unipec America (Sinopec subsidiary), Shell Western Supply and Trading, PetroChina International, and Chile's ENAP, reflecting Ecuador's continued diversification of crude buyers beyond its traditional China-heavy offtake base.
Elecaustro Launches Bid for 100MW Replacement Barge as Karpowership Contract Expires, Exposing Grid's Continued Rental Dependence
Elecaustro issued a competitive bid to lease a power generation barge of up to 100 megawatts to replace capacity lost when its Karpowership contract expired on January 7 after a 110-day term. The procurement underscores Ecuador's continued dependence on rented emergency generation -- 334MW across three barges and two thermal plants -- even as the government advances a $2.43 billion long-term power expansion plan targeting 1,471MW of new capacity.
Sinopec Wins $105M Petroecuador Contract for Amazon Drilling Campaign Targeting 12,000 bpd Across Orellana and Sucumbios
Petroecuador awarded a $105 million drilling services contract to China's Sinopec for a multi-well campaign across Orellana and Sucumbios provinces in the Ecuadorian Amazon. The programme targets 12,000 barrels per day of incremental production and is expected to create 2,500 local jobs. The contract deepens China's growing role in Ecuador's upstream oil sector.
Ecuador Unveils $2.43B Power Expansion Plan Targeting 1,471 MW of New Capacity Across 23 Projects With Nuclear Exploration
Ecuador's Ministry of Energy published its 2025-2030 electric power expansion plan, committing $2.43 billion across 23 generation projects totalling 1,471 MW of new capacity. Solar dominates with 963 MW, while the government disclosed plans to explore small modular nuclear reactors in the medium term -- a first for the country -- as it races to close a projected 76% demand growth gap by 2034.
Petroecuador Signs Energy Cooperation MoU With Abu Dhabi's ADNOC as Ecuador Courts Gulf Investment
Petroecuador formalised an energy cooperation framework with Abu Dhabi National Oil Company (ADNOC) through a memorandum of understanding signed by UAE Minister Sultan Al Jaber and Ecuador's Minister Ines Manzano. While non-binding, the MoU establishes a channel for collaboration on crude purchases, technical best practices, and strategic cooperation as Petroecuador confronts declining output and an urgent need for operational modernisation.
PetroEcuador Production Falls 8.5% to 349,000 b/d as Labor Groups Warn of 'Silent Dismantling'
Ecuador's state oil company EP PetroEcuador averaged just 349,167 barrels per day in 2025, an 8.5% year-on-year decline, while public investment in the company fell 73% to $485.4 million. Labor groups have warned of a 'silent dismantling' as fuel imports reached 74.3 million barrels.
Colombia's Indefinite Electricity Suspension Costs Ecuador an Estimated $2M Per Day in Replacement Energy
Colombia indefinitely suspended electricity exports to Ecuador effective February 1, a move Bogota characterises as a "preventive measure" to protect its own energy sovereignty. Ecuador estimates the suspension forces it to source approximately $2 million per day in higher-cost replacement energy from thermal generation and spot market purchases.
Ecuador Imposes 900% Tariff Hike on SOTE Pipeline Transport of Colombian Crude
Ecuador raised the tariff for transporting Colombian crude through the state-owned SOTE pipeline from $3 to $30 per barrel -- a 900% increase affecting approximately 12,000 barrels per day of Ecopetrol production. Energy Minister Ines Manzano announced the measure as direct retaliation for Colombia's suspension of electricity exports.
PetroEcuador Output Holds at 480,000 b/d as SOTE Pipeline Upgrades Near Completion
PetroEcuador maintained crude oil production at approximately 480,000 barrels per day in January 2026, with the company forecasting a return to 500,000 b/d by the third quarter following completion of critical SOTE pipeline upgrades.