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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: GREENLAW4-7 who wrote (89174)8/13/2007 9:54:12 AM
From: CommanderCricket  Read Replies (1) of 206307
 
greenie,

There's a theme here....didn't you read the article about the lights going out in Africa? If Crude drops back a little, there is so much demand to bid it back up.

Ecuador oil exports fall 13.1% in first half of 2007

Quito (Platts)--9Aug2007

Ecuador's crude exports in the first six months of the year were down 13.1% to 60.2 million barrels from 69.314 million barrels in the same period of the previous year, according to information from the Central Bank released Thursday.

The fall in exports echoes a decline in production, which is down 7.1% to 91.536 million barrels from January to June 2007 compared to 98.536 million barrels in the same period of 2006.

Production at state oil company Petroecuador continues to decline to due a lack of investment. Private oil operators are maintaining production at current rates, due to a lack of new concession opportunities and political insecurity. The average price of Ecuador's crude during the first half was $49.80 per barrel, down 2.6% compared to $51.11/b in 2006.

In June, exports increased 17.2% to 11.842 million barrels compared to10.106 million barrels in the same month last year. The average price of Ecuador's crude was $56.94/b, down 2.1% from $58.16/b in the same month of last year. Production in June was 15.436 million barrels, down 7.1% from 16.073 million barrels in June 2006.
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