With a differential of $ -0.68 per barrel, the Public Company Petroecuador awarded the importation of 1,400,000 barrels of Diesel Oil to the company Trafigura PTE. LTD, by submitting the best offer and accepting the terms and conditions of the contest.
Diesel Oil is a fuel that supplies the country’s electrical and industrial sector.
For the import of 1,400,000 barrels of Diesel Oil, Petroecuador invited 40 companies qualified in the Client Registry of the International Trade Management, of which five offers were presented from the companies: Offer, Trafigura PTE. LTD., BB Energy (Asia) PTE. LTD., Glencore LTD. 0.12, Novum Energy Trading Corp. and Phillips 66 Company.
For this process, managers of the state company invited delegates from the legal area Petroecuador, the Prevention and Money Laundering Unit and the International Trade Management in person, as well as officials from the Public Company Flota Petrolera Ecuatoriana (EP Flopec) , of the Agency for the Regulation and Control of Energy of Non-Renewable Natural Resources and representatives of the offering companies in a virtual way.
In accordance with the terms and conditions of the contest, the volume offered will be imported in five shipments of 280,000 +/- 2% each, which are estimated to be delivered until April 2021.
In the tender, Petroecuador obtained the best differential seen in the importation of Diesel Oil since 2019, since in recent years the purchase of this fuel had been awarded at values above its score, however, with the participation of the bidding companies in In public tenders, the public oil company obtained a discount of $ 0.68 per barrel. (I)