Petroecuador’s monopoly is ended. However, companies will have to trade with the frozen prices established by the Government.
The Ministry of Energy announced on November 8, 2021 that the authorization so that six private companies assume the import of fuels and natural gas, outside the state monopoly of Petroecuador.
In the case of gasoline, Business authorized are Agnamar, Corpetrolsa, Oceanbat and Marzam. All three were already operating in Ecuador as the main bunker suppliers, a fuel for boats that is the product of a mixture of diesel with fuel oil.
Likewise, Sycar and Gasvesubio may bring the natural gas for home use. Gasvesubio, belonging to the Eljuri Group, owns a liquefaction plant for natural gas located in the province of El Oro, which works with the derivative from the Gulf of Guayaquil.
According to an official statement, the decision was made after an analysis by the Agency for the Regulation and Control of Energy and Non-Renewable Natural Resources (ARC) and compliance with legal requirements.
However, Oswaldo Erazo, economist and executive secretary of the National Chamber of Petroleum Derivatives Distributors of Ecuador (Camddepe), explained that they will have to submit to frozen prices, established by the Government from October 22, 2021.
Under these conditions, the business is not really “attractive to the private sector.” The only way for the numbers to close is to matter fuels of the same low quality as those that are already marketed in the country.
With that, the goal that the competition improves the quality, and that they even offer Euro 5 products, does not seem feasible.
The only completely liberalized gasoline is the super since December 2018; but its consumption has been falling in recent years and it is the one with the least participation in the Ecuadorian market.
On September 24, 2020, through executive decree 1158, the previous Government of Lenín Moreno opened the door for import fuels other companies besides Petroecuador.
But these new importers will have to use the infrastructure of the state oil company to transport and store the products.
At the moment, it has not been detailed what the rates will be charged for these facilities. Although they are probably the result of direct negotiations between the parties.
The field of action of private businesses not only includes the automotive segment, but also tuna, shrimp and other fisheries. (JS)
FACT.- Since October 22, 2021, the price of extra gasoline was set at $ 2.55 per gallon; while diesel was $ 1.9 per gallon.
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