Posted On 10 Apr 2014
The Citizen Resources company was adjudged with the provision of 800,000 barrels of Cutter Stock, a diluent that is used for the preparation of Fuel Oil No.6, residue from oil required for the operation of thermoelectric power stations.
Citizen was awarded with that volume of derivatives after bidding a differential of – 3.98 USD per barrel. According to a statement from Petroecuador, the first delivery of the product will arrive in the country between April 15 and 17, 2014.
`The volume of this Cutter Stock import will allow to have stocks of this derivative for the next four months of 2014,´ the company said.