Ecuador’s energy ministry announced on Sunday that Ecuador’s oil production has reached a “critical level” and will stop within 48 hours if protests and blockades continue in the country.
“If this situation continues, oil production in the country will stop in less than 48 hours. Sabotage, seizure of wells and road closures prevent the transport of materials and diesel fuel needed to continue work, ”the ministry said in a statement.
According to the ministry, “oil production is at a critical level” following nearly two weeks of indigenous protests against the cost of living, with roadblocks and road closures in 19 of the country’s 24 provinces.
“Numbers today show a decline of more than 50%” of production, which was about 520,000 bpd before June 12, the ministry added.
Ecuador has significant hydrocarbon reserves, and oil is the country’s main export product.
Source: AP