Ecuador: Oil output to reach 550,000 arrels per day by end of 2013

reuters.com reported that Ecuador’s oil production should rise to 550,000 barrels per day (bpd) by the end of this year, the oil minister said on Tuesday, up from an average of 504,000 bpd last year.

Investments by Petroamazonas, the operations division of state oil company Petroecuador, and by private companies were key to the projected increase, said Pedro Merizalde, the minister for non-renewable resources. Read Article

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