Ecuador Declares Force Majeure After Oil Pipeline Shutdown
QUITO (Reuters) — Ecuador has declared force majeure on oil exploration and production activities after its main crude pipeline halted operations due to soil erosion in the Amazon region, the Andean nation's energy ministry said on Thursday.
Crude exports will not be affected by the force majeure declaration given the level of inventories at the Balao terminal, the ministry said in a statement.
State-run oil company Petroecuador on Wednesday shut the SOTE pipeline, with a capacity to transport some 360,000 barrels of crude per day, as a preventative measure.
An April landslide in the Amazon prompted the SOTE and another major pipeline to burst, forcing Ecuador to halt oil exports.
In the statement, Energy Minister Rene Ortiz said he expected Petroecuador would complete construction of a SOTE pipeline variant within five days, allowing pumping to resume.
Related News
Related News
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
Comments