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Ecuador loses US$600 million due to suspension of crude oil transportation

RIO DE JANEIRO, BRAZIL - Ecuador registers some US$600 million in losses due to the suspension of oil transportation through two oil pipelines because of soil erosion caused by a river, informed today the Ministry of Energy.

The state-owned Petroecuador, in charge of the Trans-Ecuadorian Oil Pipeline System (SOTE) and a polyduct, and the private consortium Oleoducto de Crudos Pesados (OCP), are building variants of their pipelines to avoid "greater economic impacts, which at the moment are estimated at US$600 million", the ministry said in a statement.

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