Ecuador mulls rejoining OPEC

South American oil producer Ecuador is considering whether to rejoin the Organisation of Petroleum Exporting Countries OPEC cartel, 13 years after pulling out of the West Asia-dominated group, Energy Minister Eduardo Lopez said on Tuesday.

The Andean nation pumped about 525,000 barrels per day BPD in 2004, state oil company Petroecuador has said. Lopez said exports were running at 140,000 barrels per day.

8216;8216;We are considering whether we should get into OPEC or not. Before that we have to evaluate the benefits and disadvantages of getting into the alliance,8217;8217; Lopez told reporters at an energy conference in New Delhi.

Ecuador was a member of the Organisation of the Petroleum Exporting Countries from 1973 until 1992, when it left the group, citing the issue of annual fees.