02/ 23 Closing Prices / revised 02/23/2024 21:59  GMT 02/22   OPEC Basket  82.90 + 0.91  | 02/23    Mexico Basket (MME)   $72. 22 -2.05 | 01/13    Venezuela Basket (Merey)  $66.50  +1.30   | 02/23     NYMEX WTI Texas Intermediate April  CLJ24   $76.49 -2.12 | 02/23    ICE Brent April BRNJ24     $81.62 -2.05 | 02/23     NYMEX Gasoline March  RBH24   $2.28  -2.5% |  02/23    NYMEX  Heating Oil March  HOH24   $2.69   -2.3%   | 02/23    Natural Gas March NGH24    $1.60  -7.5% | 02/23    Active U.S. Rig Count (Oil & Gas)    626   +5  | 02/23    USD/MXN Mexican Peso  17.1166  (data live  | 02/23     EUR/USD    1.0821  (data live)  | 02/23    US/Bs. (Bolivar)   $36.06980000  ( data BCV)  

Environmental, Indigenous groups in Ecuador threaten action over Amazon oilfield – Reuters

A pipeline of state-owned Petroecuador is pictured as Ecuador is preparing to shut down oil production in the Yasuni Amazon reserve, in Via Auca, Orellana province, Ecuador July 28, 2023. REUTERS/Karen Toro/
A pipeline of state-owned Petroecuador is pictured as Ecuador is preparing to shut down oil production in the Yasuni Amazon reserve, in Via Auca, Orellana province, Ecuador July 28, 2023 (Karen Toro/Reuters)

Alexandra Valencia, Reuters

QUITO
EnergiesNet.com 01 26 2024

Environmentalists and Indigenous groups in Ecuador on Thursday said that President Daniel Noboa risks being removed from office if he does not comply with a referendum that called for the closure of an oil block in the country’s Amazon.

Last year, a majority of Ecuadoreans voted to shutdown the 43-ITT block to protect the Yasuni reserve in the Amazon, while the country’s top court granted one year for the removal of oil infrastructure in the region.

Noboa recently floated the idea of postponing the block’s closure, citing resources needed to finance a military offensive he declared earlier this month to tackle criminal gangs he has called terrorists amid spiraling violence.

State-owned Petroecuador has previously said that closing the block – which produces some 55,000 barrels of oil per day – could begin in August.

“If the president signs a document stating he won’t comply with the will of the people(…), then the Constitutional Court will have to remove the president, we will take charge of pushing criminal charges,” Pedro Bermeo, from environmental advocacy group Yasunidos, which pushed the referendum, told journalists.

During the same press conference Leonidas Iza, president of Ecuador’s largest Indigenous group, CONAIE, threatened to take the case to both Ecuador’s top court and the Inter-American Commission on Human Rights (IACHR) if need be.

“Democrats respect the will of the people,” Iza said. “Opportunists take advantage of the will of the people for their own ends. President Noboa is at the point of revealing whether he is an opportunist or a democrat.”

The government did not respond to requests for comment.

Closing the block could cost Ecuador some $13.8 billion over the next two decades and will result in the loss of 12% of the country’s oil output, which averages about 492,000 bpd, according to Petroecuador.

Reporting by Alexandra Valencia Writing by Oliver Griffin Editing by Marguerita Choy

reuters.com 01 25 2024

Share this news

Support EnergiesNet.com

By Elio Ohep · Launched in 1999 under Petroleumworld.com

Information & News on Latin America’s Energy, Oil, Gas, Renewables, Climate, Technology, Politics and Social issues

Contact : editor@petroleuworld.com


CopyRight©1999-2021, EnergiesNet.com™  / Elio Ohep – All rights reserved
 

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission fromPetroleumworld or the copyright owner of the material.

 
 
Scroll to Top