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Oil presale of $ 2,500 million for Thailand
Posted On 31 Jul 2015
In June an agreement for anticipated sale of oil between EP Petroecuador and the state company PTT was signed, this was confirmed by the manager of International Trade of EP Petroecuador, Nielsen Arias.
The details are posted on the website of EP Petroecuador. It is a contract that includes the delivery of 116’640.000 barrels of Napo and Oriente oil to PTT.
Taking into account that Ecuador exported 154’658.110 barrels in 2014, the committed figure with PTT is equivalent to 75% of that amount. However, no details like in how many years the crude will be delivered or in how much time the money will be disbursed. In any case, it is indicated that the sales formula states that to each barrel of oil $ 0.45 will be added.
According to EP Petroecuador, PTT is a major shareholder of five of the seven refining complexes in Thailand with a capacity of one million barrels per day. It has supply agreements with producers like Saudi Aramco, ADNOC Socar, among other state companies.
Source: http://www.eluniverso.com/
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