Manuel Chinchilla Da Silva: PetroEcuador crude oil export increased 9.9% in 2019

The dispatch of derivatives was monopolized in 58.42% by the automotive sector

In order to supply the internal demand for derivatives, the import of 58.2 MMBLS was necessary, a 9.7% higher figure compared to 2018

The balance of the production of crude oil exported under the different modalities by the Ecuadorian oil company PetroEcuador reached a volume of 120 billion barrels (MMBLS) during the period January - November 2019, which represents an increase of 9.9% compared to the same period of the previous year, according to the January - December 2019 Statistical Report prepared by the PetroEcuador EP , which was released in January 2020.

With regard to the transport of crude oil by the Trans-Ecuadorian Pipeline System and heavy crude oil during the period January - December 2019, a reduction of -0.6% was observed, considering that with respect to 2018 the figure dropped from 125 million 570 thousand barrels to 124 million 823 thousand. On a daily average, the pumped oil fell from 344 thousand 026 to 341 thousand 983 barrels per day.

From Ecuadorian crude oil production, a volume of 52.1 MMBLS was destined to refinery loads, a figure 10.4% lower than in 2018, during which time scheduled and emerging stoppages were executed at the Esmeralda refinery, the La Libertad refinery and Shushufindi refinery. 

Dispatch and demand for derivatives

Taking into account the different sectors, the derivative dispatch was monopolized in 58.42% by the automotive sector, followed by the domestic sector with 13.60% and the industrial sector with 9.66%. The remaining 19% is led by the agricultural, oil, air and cement sector. 

Total internal demand for derivatives was 91.0 MMBLS, 2.3% lower than the previous year, with a 34.6% decrease in super gasoline consumption due to the application of Executive Decree No. 490 , which eliminated since December 2018 the subsidy to super gasoline, allowing its price to fluctuate according to variations in the international price of oil. In comparison with 2018, the total of gasoline in 2019 was 0.4% less, in addition there is a decrease in fuel consumption in the electricity and shipping sector. 

Discriminating by product, the demand for gasoline was 30.2 MMBLS, that of D. 2 and Premium 32.9 MMBLS, fuel oil # 4 was 7.6 MMBLS, liquefied petroleum gas (LPG) 13.9 MMBLS, while in the other region the demand was 6.4 MMBLS. 

National production of derivatives

On the other hand, the national production of derivatives was 75.6 MMBLS in total, 30.2 MMBLS corresponding to gasoline, 12.1 MMBLS to D. 2 and Premium, 8.3 MMBLS to fuel oil # 4, 13.6 MMBLS a fuel oil # 6 and 11.3 MMBLS others. The transportation of derivatives was 91.4 MMBLS.

The national production of derivatives of Ecuador is obtained from the sum of the production of derivatives finished in refineries, mixing of gasoline in terminals and the availability of super gasoline; the same as for the period under analysis was 75.6 MMBLS with a variation of less than 6.0% with respect to the previous year. 

Import and export of derivatives

In order to supply the internal demand for derivatives, the import of 58.2 MMBLS was necessary, a figure higher by 9.7% compared to 2018, of which 24.6 MMBLS of Naphtha and Cutter was used in the production of derivatives Stock, which enter as inputs in refineries and terminals to obtain gasoline and fuel oil mixtures. Regarding export, PetroEcuador exported surplus fuel oil # 6 for a total of 15.8 MMBLS, this figure being 2.9% above that registered the previous year.