Petroecuador issues force majeure on oil exports

By MERCEDES ALVARO

QUITO -- The General Manager of Petroecuador, Marco Calvopina, confirmed the company has declared force majeure on oil exports.

Mr. Calvopina said Petroecuador expects to resume pumping its Sote pipeline. The pipeline was halted due to a rupture in a line.

A company executive told Dow Jones Newswires that the work could take three more days to be completed.

Petroecuador will send a shipment of 360,000 bbl of oil to PetroChina with oil that the Ecuadorian company has in stock. Another shipment of 720,000 bbl for PetroChina will also be sent soon.

In a press conference, Mr. Calvopina said that four other oil shipments of 360,000 bbl each could be rescheduled.

Mr. Calvopina also said there is enough crude in stock for local necessities.

Mr. Calvopina said that 120,000 bbl of crude from Petroecuador is being pumped through the private Oleoducto de Crudos Pesados pipeline.

The Sote pipeline stopped pumping due to a landslide near the Reventador Volcano. Mr. Calvopina said that more than 10,000 bbl of crude have been spilt.

The 503 km, 360,000 bpd Sote pipeline transports crude from main oil producing areas in the Amazon to an oil export terminal in Balao, located in Ecuador's Esmeraldas province on the Pacific coast.