Petroecuador

EP Petroecuador is the national oil company of Ecuador. Ecuador is a member of the Organization of the Petroleum Exporting Countries (OPEC) and, although it is the smallest member, the country produced 531,000 barrels of crude oil per day in 2019. The oil corporation is a significant part of the Ecuadorian economy. The petroleum industry has expanded to the production of refined commodities such as gasoline, liquefied petroleum, and jet fuel. The government of Ecuador is highly dependent on the revenues from the energy sector to support its budget and finance state projects.