Petroecuador Recoups Some Lost Oil Production after Protests End

Ecuador’s Petroecuador has recuperated around 91% of its oil production lost in June due to protests over rising food and fuel prices, the state-owned company said on July 4.

Petroecuador Recoups Some Lost Oil Production after Protests End

Social unrest sparked by rising prices and inflation peaked in early June and sparked unrest across the Andean country that eventually forced President Guillermo Lasso’s government to declare force majeure. Pictured, people protest against Lasso’s economic and environmental policies, in Ambato, Ecuador, on June 20. (Source: DANIEL CONSTANTE / Shutterstock.com)

State-owned EP Petroecuador continues to recuperate lost oil production after the government of Ecuador’s President Guillermo Lasso and Indigenous leaders signed a deal that ends weeks of social unrest and paves the way for the normalization of operations across the country’s hydrocarbon value chain.

Since signing the deal on June 30, which includes fuel price reductions and other concessions, Petroecuador has recuperated around 91% of its production lost in June due to protests over rising food and fuel prices, it said July 4 in a press statement. The company anticipates a return to normal production levels by the end of July.

“We continue working 24 hours a day… to raise production levels,” Petroecuador Exploration and Production Manager Bladimir Cerón said in the statement, adding that the company continues to eye doubling oil production in the future. 

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Pietro Pitts

Pietro Donatello Pitts is a senior energy reporter for Hart Energy. He covers Latin America and the Caribbean as well as regions from North America to Europe, Africa and Asia. He covers topics spanning from the upstream, midstream and downstream sectors to the energy transition and geopolitical events impacting the global energy sector.