Wednesday, May 12, 2010

Ecuador's Jan-March Oil Exports Rise 137% On Year To $2.11B

QUITO (Dow Jones)--Ecuador's crude oil export revenue totaled $2.11 billion for the January-March period, a 137% increase from $889 million a year earlier, due to higher oil prices, the central bank reported Wednesday.

The average price of crude in the three month period jumped 141% to $71.96 per barrel from $29.80 a barrel in the 2009 period.

By volume, Ecuador exported 29.34 million barrels in the first three months of this year, down 2% from 29.83 million barrels.

That translates into exports of 325,989 barrels a day in the first quarter from 331,400 barrels a day a year earlier.

According to the official data, of the total exported by the country, 7.94 million barrels, or 27%, were sold by private companies operating in Ecuador, bringing in revenue of about $565 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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