December 02, 2024 [Reuters]- Ecuador’s government will take over operations of the country’s OCP heavy crude oil pipeline for six months until a fresh tender is launched, the nation’s energy and mines ministry said on Sunday.

Previously, the ministry said the transfer from OCP Ecuador, a private consortium which had run the pipeline, to the government would be carried out on Nov. 30 but did not specify how long the state would manage the infrastructure.

OCP Ecuador and the government inked a mediation agreement in January for the handover of the pipeline, which can transport up to 450,000 barrels per day despite operating below capacity.

OCP Ecuador’s contract had expired on Jan. 20.

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