Brief: Ecuador hydrocarbons watch

Thursday, October 26, 2017

Ecuador's hydrocarbons department (SHE) and Orión Energy Ocano, which operates block 52, signed (pictured) a document whereby the latter will receive pending VAT payment for E&P services carried out in 2016-17.

For its part, Refinería del Pacífico Eloy Alfaro's (RDP) board gave management until December 31 to respond to observations related to financials, contracts and assets amid allegations of mismanagement, and appointed Rosendo Machado Villacrés to replace general manager Bismark Andrade.

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Petroecuador and Venezuela's PDVSA control 51% and 49%, respectively, of RDP, which is developing the 300,000b/d Pacífico refinery project.