Oil Negotiatons with Iran from 2013

Ecuador could make strong oil negotiations with Iran

Iranian authorities announced, after the trip the Foreign Minister Ricardo Patiño made last May, that in 2013 there will be the possibility that Iran supplies oil products to Ecuador.

The report comes from the 074 IGER-DGER- 2012 memorandum sent by the manager of International Trade, Nilsen Arias, and organizational development manager, Jorge Regalado, to Marco Calvopiña, general manager of Petroecuador.

Both managers and Calvopiña traveled to Tehran and Singapore since last February 23, to meet on Saturday February 25 with the Director of International Affairs, M. H. Akhbari Shad at the Oil Ministry of the National Iranian Oil Refining & Distribution Company (NIORDC).

The meeting addressed the three following specific issues:

1.     Obtaining a line of credit for the purchase of derivatives in Iran to supply “the need for generated product”.

2.     Subjects related to engineering resources for the upgrading of the Esmeraldas Refinery.

3.     A credit line of $400 million for the purchase of derivatives of Iranian production, offered by the Export Development Bank of Iran (EDBI).

(MZ)