Ecuador's fuel import costs have surpassed crude and fuel oil export income for the first time in more than 50 years, energy minister Fernando Santos has revealed. Exports by the South American country of crude and fuel oil--the only refined product Ecuador exports--were $2.9bn, $100m lower than imports of high-octane naphtha for blending into gasoline, LPG, and diesel which cost $3bn during the first half of the year, thanks to oil prices falling 30% from the same period a year ago. This marks the first time Ecuador's energy imports…
