KEYFACT Energy
Contacts
EP Petroecuador
Calle Alpallana E8-86 y Avda. 6 de Diciembre
Quito, Pichincha
Ecuador
Tel: 593 2 3942000
Petroecuador
Description
Ecuador's state oil company EP Petroecuador - Empresa Pública de Hidrocarburos del Ecuador, is engaged in the exploration, production, storage, refining and retailing of crude oil, both domestically and internationally. The company's marketing network includes Petrocomercial service stations located throughout the country. EP Petroecuador also refines various petrochemicals.
The company operates through several subsidiaries, including Petroproduccion, Petroindustrial and Petrocomercial.
Petroecuador was merged with state exploration and production company (E&P) Petroamazonas in 2012 to consolidate and optimize Ecuador's hydrocarbon production. In 2013, Petroamazonas took ownership of Operaciones Rio Napo, a joint venture between Petroecuador and Petroleos de Venezuela (PdVSA), Venezuela’s state-owned oil company. These companies account for more than 80% of Ecuador’s oil production. The remaining production is attributed to fields operated by internationaloil companies (IOCs), Repsol (Spain), Eni (Italy), Tecpetrol (Argentina’s state-owned company), and Andes Petroleum, which is a consortium of the China National Petroleum Corporation (CNPC, 55% share) and the China Petrochemical Corporation (Sinopec, 45% share).
Ecuador’s Ministry of Non Renewable Natural Resources is responsible for energy policy decisions, while the Hydrocarbons Regulation and Control Agency regulatesthe oil sector.