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Changes for Ecuador's oil companies as China brings help

Ecuador's state oil companies have restructured, there's new acreage, and China is bringing much needed funding

Ecuador, Opec's smallest oil producer, has restructured its state-owned oil companies. Under the realignment, Petroamazonas has taken over operation of the country's upstream sector, while Petroecuador is now in charge of the downstream business. Launched in late 2011, the changes were completed in January this year. The government hopes that putting all of the government upstream operations under one roof will help boost production. The new-look Petroamazonas was producing around 330,000 barrels a day (b/d) in July, nearly two-thirds of the country's total output of 530,000 b/d for the month. Ecuador's smaller state-run upstream firm, Rio Napo, was producing around 73,655 b/d, meaning the

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