(Energy Analytics Institute, Piero Stewart, 27.Jun.2019) — EP Petroecuador awarded Glencore Ltda. a deal to import 1,890,000 barrels ± 2% of cutter stock, a diluent used in the preparation of fuel oil.
Glencore offered the cutter stock diluent with a $3.32 per barrel differential, EP PetroEcuador announced 27 June in an official statement.
While 34 companies participated in the international competition, valid offers were considered from Trafigura Pte. Ltd., Freepoint Commodities Llc., Glencore Ltd. and Vitol Inc.
Ecuador will import the cutter stock in nine shipments of 210,000 barrels ± 2% each. The first delivery will be between 8-10 July. The imports will cover demand for the derivative through December 2019, EP Petroecuador said.
The marker for this product is Midpoint Platts No.2 Prompt Pipeline from the U.S. Gulf Coast.
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