Petroecuador will import 2.4 million barrels of diesel from Glencore LTD

Ecuadornews:

Ecuador’s public hydrocarbons company Petroecuador reported that it will import 2.4 million barrels of diesel from Switzerland-based multinational company Glencore LTD., Winner of an international bidding contest.

“Of the 34 companies invited to the international bidding contest for the supply of this product, on Thursday, April 12, 2018, 9 excuses and 7 offers were received,” reads a statement from the state oil company.

At the opening of the bids, representatives of the Public Company Fleet Petrolera Ecuatoriana (EP FLOPEC), of the Hydrocarbons Regulation and Control Agency (ARCH), of the bidding companies, as well as the authorities of the International Trade Management of EP Petroecuador and media.

After completing the evaluation process, those responsible resolved to grant the game to the company GLENCORE LTD., Which offered a differential of +3.64 USD / BL (plus three United States dollars with sixty-four cents per barrel).

In accordance with the terms and conditions of the tender, the volume offered by Diesel Oil will arrive in the country in ten shipments of 240,000 barrels +/- 10% at the option of EP Petroecuador each.

The first delivery will occur between May 1 and 3.

With the import, EP Petroecuador guarantees the supply of this fuel for the energy and industrial sector. (I)

Source: https://www.eltelegrafo.com.ec/noticias/economia/4/petroecuador-importacion-diesel-glencore