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Ecuador's energy situation : analysis of current problems, short-term and medium-term policy guidelines and repercussions on the economy (Inglês)

Despite the drastic decline in world oil prices, Ecuador's economy continues to be strongly dependent on oil production and exports. Ecuador's energy sector faces a number of problems: limited reserve potential of hydrocarbons, heavy subsidy of energy prices, and financial and legal constraints within which the Ecuadorian State Petroleum Corporation (CEPE) and the Ecuadorian Electrification Institute (INECEL) are forced to operate. With a reserves-to-production ratio of less than ten years, Ecuador must intensify its own exploration efforts and maintain foreign investments so that its hydrocarbons subsector might contribute to the national economy into the 21st century. The domestic price of crude oil continues to lag behind replacement costs (-30%), and represents only 50% of economic costs. This causes huge government subsidies and losses to the public sector, and to CEPE in particular. CEPE's investment program, currently emphasizing transportation and refining activities, should give priority to exploration and production. CEPE's present finances show a budget deficit estimated at 40% for the five-year period 1988-92 and can only improve by a structural reform of current oil revenues distribution. The legal status of both CEPE and INECEL should be modified to allow for the financial and operational autonomy of private companies.


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    Documento do Programa de Assistência à Gestão do Setor de Energia (ESMAP)

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    América Latina e Caribe,

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    Ecuador's energy situation : analysis of current problems, short-term and medium-term policy guidelines and repercussions on the economy

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    refined product;electricity subsector;energy sector management assistance programme;consumption;average price;source of energy;elimination of customs duty;international oil price;domestic price;energy conservation;Oil Export;dry natural gas;world oil price;oil revenue distribution;transmission and distribution;energy conservation measure;government capital contribution;foreign exchange policy;fuel price increase;fuel oil;replacement cost;proven reserve;income and expenditure;thermal power plant;zone of influence;final energy demand;source of financing;real interest rate;power generation program;development of fields;problem of deforestation;cost of extraction;increase tariff;revenues from sale;national energy policy;total energy consumption;energy sector activity;electric energy production;gross value;demand for energy;solar water heating;higher consumption levels;per capita consumption;official exchange rate;price of crude;air conditioning system;dollar exchange rate;passive solar energy;hydroelectric power plant;rate of production;liquid petroleum gas;adjustment of price;international crude oil;share of revenue;depreciation and amortization;gross domestic product;electricity distribution company;proven natural gas;degree of certainty;accumulation of arrears;investment program;relative price;expansion plan;domestic demand;private company;electricity tariff;energy policies;industrial sector;household sector;commercial energy;energy loss;Exchange Rates;domestic consumption;trade balance;peak demand;tank trucks;allocation system;energy content;public finance;rural area;upstream activity;production rate;oil production;energy resource;institutional aspect;energy situation;tariff adjustment;national economy;export price;foreign capital;household use;oil field;legal framework;price policy;storage capacity;legal measure;average production;heavy crude;industrial consumption;light crude;explanatory variable;selling price;profit margin;budget deficit;conventional energy;public expenditure;official reserve;financially dependent;computer program;fishing sector;budget price;investment priority;exploratory activity;oil industry;financial obligation;household tariff;petroleum revenue;offshore area;retail price;oil importer;conversion factor;energy problem;price structure;debt service;public consumption;energy scenario;remote area;private consumption;domestic fuel;subsidy policy;water injection;peak production;commercial activity;production cost;financial difficulties;operational autonomy;computer facility;photovoltaic system;generation capacity;energy shortage;product pipeline;transportation capacity;price change;power capacity;general budget;legal problems;market structure;transport capacity;long-term debt;net worth;power supply;oil marketing;annual tariff;minority shareholder;raw material;peak power;exploration effort;energy infrastructure;oil sector;monetary policy;legal constraint;energy price;heavy subsidies;power loss;geographic dispersion;fuel cost;tariff increase;energy economics;foreign company;exploratory well;exploration policy;Investment priorities;gas specialist;investment budget;political interference;energy economist;fixed tariff;high tariff;petroleum subsector;external financing;government deficit;public revenue;internal market;food industry;energy audits;natural water;vehicle efficiency;oil royalties;national industry;government budget;price rise;legal change;traditional stove;export revenue;professional personnel;soil erosion;efficient stove;Economic Studies;thermal capacity;local counterpart;price freeze;currency restriction;coal reserve;net importer;foreign currency;financial situation;operational deficit;annual production;economic study;approved budget;Fiscal policies;fiscal policy;hydroelectric resource;industrial company;financial aspect;gas plant;lubricating oil;financial loss;adequate tariff;average consumption;total consumption;Management Systems;coastwise shipping;diesel use;transmission loss;motive power



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