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Eyeing Asian market, Ecuador begins crude exports in larger vessels

Eyeing Asian market, Ecuador begins crude exports in larger vessels Reuters 5 hrs ago By Alexandra Valencia © Reuters/STRINGER Panama-flagged crude carrier Gem No 2 is being loaded with Ecuadorean crude, at sea near Esmeraldas By Alexandra Valencia ESMERALDAS, Ecuador (Reuters) - Ecuador for the first time on Monday exported a cargo of one of its flagship crudes, Oriente, aboard a very large crude carrier (VLCC), following an upgrade to a terminal that the South American country hopes will help it boost exports to Asia. The shipment of 1.08 million barrels of Oriente aboard the Panama-flagged Gem No. 2 vessel was made possible due to the construction of an extension of state oil company Petroecuador s SOTE pipeline from the Balao port to the nearby Punta Gorda terminal, which is operated by privately-held consortium OCP Ecuador.

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