PetroEcuador to Export No. 6 Fuel Oil in July

(Energy Analytics Institute, 27.Jun.2016, Clifford Fingers III) – Trafigura PTE LTD won a bid by EP PetroEcuador whereby the former will export 950,000 barrels of No. 6 Fuel Oil, announced EP PetroEcuador in an official statement on its website.

The winning bid had a $1.49 per barrel discount.

The shipments from Ecuador will be processed in 5 shipments of 190,000 barrels each. The first shipments could leave the country during July 11-13, 2016.

The state oil company had invited 33 companies — qualified to offer No. 6 Fuel Oil — to bid for the exportation of the product, announced the state oil company in an official statement on its website.

The companies — Arkham S.A, B.B Energy (Asia), PTE LTD, Citizens Resources LLC, Glencore LTD, Novum Energy Trading Corp, Trafigura PTE LTD and Vitol INC — presented their offers on June 23, 2016. PetroEcuador announced that 7 offers were received as well as 8 excuses. Due to a tie related to two offers, the said companies had another 24 hours to present their new offers.

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