Ecuador aims to boost crude output in 2011, reduce products exports
Houston (Platts)--19Jan2011/532 am EST/1032 GMT
Ecuadorean state oil company Petroecuador has set a crude production goal
of 180.8 million barrels for 2011, up from the 2010 goal of 178.213 million
barrels, according to a copy of Petroecuador's 2011 operations plan obtained
by Platts on Tuesday.
Its goal for crude exports is 125.582 million barrels, compared with the
2010 goal of 122.151 million barrels.
In refined products, Petroecuador aims to import 44.705 million barrels,
compared with the 2010 goal of 38.277 million, while exporting a total of
7.476 million barrels in 2011, down from the 2010 goal of 11.596 million
Petroecuador is targeting increased crude output at its Napo River
operations, in which Petroecuador holds a 70% stake, with the remaining 30%
belonging to Venezuela's state oil company PDVSA.
In order to achieve its production goal, Petroecuador aims to drill 33
new oil wells, conduct maintenance in 70 active oil wells and reestablish 10
inactive oil wells, the operations plan showed. The goal is to produce a total
of 23.5 million barrels from that region in 2011.
REFINING COST REDUCTION
Petroecuador is also aiming to optimize costs and improve the performance
of its refining plants, targeting a refining costs goal of between
$4.12-$5.50/barrel, the plan said.
The company expects to process 54.3 million barrels of crude oil in
Ecuadorean refineries and produce 65.3 million barrels of refined products,
including 10.2 million barrels of high octane naphtha and 3.6 million barrels
of cutter stock.
In order to optimize its refining, Petroecuador has called for using 24.7
API gravity crude at the Esmeraldas refinery, 28.1 API gravity crude at its La
Libertad refinery and 28.9 API gravity crude at its Shushufindi refinery.
It is targeting using 88 million barrels of crude for its domestic
market, while exporting 101 million barrels. It also aims to export 7.7
million barrels of refined products, while importing 44.7 million barrels.
The company produces 91 octane naphtha from its FCC units with an
aromatics content of 26.2%, and a sulfur content of 1,900 ppm. It also
produces 80 octane reformed naphtha with a 40% aromatics content and 10 ppm
Petroecuador will continue to import 93 octane naphtha with a 30%
aromatics content and a sulfur content of 50 ppm.
Ecuador's 110,000 b/d Esmeraldas refinery, the biggest in the country, is
scheduled for an 82-day maintenance starting October 11, during which
maintenance will be performed in crude unit 1, vacuum distillation unit 1 and
hydrotreater unit 1. The plan noted that the maintenance will include work
that is part of the plant's overall upgrade plan, which it expects to have
completed in 2014. This is later than a prior 2013 target.
The Esmeraldas refinery will target processing 32.076 million barrels of
crude in 2011, equivalent to 99,000 b/d or 80% of capacity, the operations
Its FCC unit will run at 82% capacity and the crude unit at 62%.
Petroecuador's 45,000 b/d La Libertad refinery will aim to process 15.302
million barrels of crude, equivalent to 41,925 b/d or 93% of capacity.
REFINED PRODUCTS IMPORTS
In 2011, Petroecuador expects to import 18.360 million barrels of 0.5%
sulfur diesel, 600,000 barrels of ULSD, 10.2 million barrels of high octane
naphtha, 2.28 million barrels of premium gasoline, 150,000 barrels of jet
fuel, 815,413 mt of LPG, 40,000 barrels of aviation gasoline and 3.57 million
barrels of cutter stock, under its operations plan.
The company will reduce exports of 2.3% sulfur fuel oil in September, and
will not export the product between October and December in order to cover
--Luciano Battistini, email@example.com
Similar stories appear in Oilgram News.
See more information at http://bit.ly/OilgramNews