Source: Vistazo
The state oil company Petroecuador signed for the first time a contract with a private company for the management of oil derivatives in the country, for a period of 15 years, according to what the entity reported on Monday.
Corpetrolsa S.A. It will be in charge of the reception, transport, storage and dispatch of the products, making use of the infrastructure of the national oil company.
Among these, maritime terminals, gas pipelines, multi-purpose pipelines, refineries and storage tanks will be in use, according to a statement released by the state oil company.
"It is the first time that EP Petroecuador signs an agreement of these characteristics with the private company, which will allow optimizing existing resources through the use of the infrastructure of the state oil company, as established by Executive Decree 1158," points out a release.
The decree in question, issued in 2020 by the then president of Ecuador Lenín Moreno, states in its Fourth General Provision that “public companies must provide the infrastructure in exchange for the payment of a reasonable rate for volume and permanence, for the importation, reception transportation and storage, and dispatch of fuels, with their cost and margin. The rate will be established by the Agency for the Regulation and Control of Energy and Non-Renewable Natural Resources”.
The Minister of Energy and Non-Renewable Resources, Juan Carlos Bermeo, stated that they are "looking for the best options for new investments to come to the hydrocarbon sector."
The manager of Petroecuador, Pablo Luna, indicated that there will be a single rate of 0.027665 dollars per gallon and will be based on what is established by the Agency for the Regulation and Control of Energy and Non-Renewable Natural Resources (ARC), "which will always be applicable and when the distribution of the product is fulfilled in all the terminals that were considered for the fixing of the rate".
The Minister of Energy, the manager of Petroecuador and the legal representative of the company Corpetrolsa S.A., Jairo Molina, were present at the signing of the contract.
On September 6, the company Corpetrolsa S.A. was qualified and authorized to carry out the activities of supplying hydrocarbon derivatives, biofuels, their mixtures including LPG and natural gas, in all market segments.
For its part, Petroecuador said that it will guarantee that the quality of the hydrocarbon derivatives to be delivered at the dispatch points is within the technical specifications as stipulated in the contract. In addition, the private company may import the derivatives it wishes, as long as it complies with the NTE INEN standards.
President Guillermo Lasso signed decree 95 in July to direct the reorganization of the oil sector in the country. According to his programmatic plans, his government seeks to double oil production in five years, to reach one million barrels per day.
These intentions have been strongly contested by indigenous and environmental groups, who maintain that the Lasso Executive seeks to privilege extractivism to the detriment of other sectors such as agriculture, livestock and tourism.