Petroamazonas Ecuador E.P. (Ecuador)

Petroamazonas Ecuador E.P. is a state-owned enterprise located in Quito, Ecuador. It was founded on September 26, 1989, and is the successor to Corporación Estatal Petrolera Ecuatoriana (CEPE), which was formed in 1972. Petroamazonas began as a fiscal agent but eventually took over the management and operation of most of the country's oil sector. The company is the national oil company of Ecuador and plays a significant role in the country's economy. Ecuador, as a member of OPEC, produced 531,000 barrels of crude oil per day in 2019. Petroamazonas is involved in the production of refined commodities such as gasoline, liquefied petroleum, and jet fuel. The government of Ecuador relies heavily on the revenues from the energy sector to support its budget and finance state projects.