Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Ecuador to Boost Crude Oil Production in 2013, Andes Says

Aug. 2 (Bloomberg) -- Ecuador, OPEC’s smallest member, plans to boost oil production by 4.7 percent by 2013, state news agency Andes reported, citing Wilson Pastor, minister of non-renewable natural resources.

Ecuador expects to increase crude output to 538,000 barrels a day in 2013 and 556,000 barrels in 2014 from 514,000 barrels through the end of June, Pastor said, according to the agency. Ecuador has lined up $1 billion in exploration and expansion projects in the Shushufindi, Libertador and Sacha oilfields, Andes said.

Ecuador, which has 1.98 billion barrels of oil reserves, hasn’t been hit by declining crude oil prices as the government set its 2012 budget using a price of $79.30 per barrel, the agency said.

To contact the reporter on this story: Alex Emery in Lima at aemery1@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.