Ecuador to Start Crude Repayments to Nigeria and Venezuela

Ecuador's state oil company CEPE will shortly begin repaying the crude oil loaned to it by Venezuela and Nigeria to enable it to meet its export commitments after the earthquake which damaged the pipeline linking the Oriente oilfields to the Pacific coast in early March (MEES, 16 March). Nigeria will receive 12,000 b/d beginning on 29 September, while Venezuela will be repaid at a rate of 15,000 b/d starting in October.