Monday, April 19, 2010

Ecuador's Jan-Feb Oil Exports Rose 137% On Yr To $1.28B

QUITO (Dow Jones)--Ecuador's crude oil export revenues totaled $1.28 billion for January and February, a 137% increase from the $541 million in the same period of 2009, due to the increase in oil prices, the central bank reported Wednesday.

The average price of crude in the two months jumped 166% to $71.20 per barrel from $26.72 a barrel reported in 2009 period.

By volume, Ecuador exported 18.04 million barrels in the first two months of 2010, down 11% from the 20.24 million barrels shipped one year early.

That translates into exports of 305,745 barrels a day between January and February, up from 343,068 barrels a day for the same period of 2009.

According to the official data, of the total exported by the country for January and February, 4.77 million barrels, or 26%, were sold by private companies operating in Ecuador, bringing in revenue of about $335 million. The remainder was exported by state-run Petroecuador.

All figures have been rounded.

-By Mercedes Alvaro, Dow Jones Newswires; 5939-9728-653;

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