Ecuador suspends oil exports after major hydrocarbon spill

Petroecuador, the Ecuadorian state-owned oil company, declared an emergency on Tuesday regarding its main pipeline after a significant crude oil spill occurred on March 13. The spill, caused by a landslide, released an estimated 200,000 barrels of oil into several rivers, including the Esmeraldas River, and onto the country’s Pacific coast. As a result, the company suspended its exports of Oriente crude oil, one of the two types of crude produced by Ecuador, invoking force majeure to avoid potential contractual penalties.