(Energy Analytics Institute, Piero Stewart, 29.Nov.2019) — EP Petroecuador awarded the export of 380,000 barrels of Fuel Oil No. 4 to Freepoint Commodities LLC.
Freepoint won the contract by presenting a negative $1.88 per barrel differential, EP PetroEcuador announced Nov. 29 in an official statement, adding the international benchmark for the product is the USGC HSFO.
In accordance with the contract’s terms and conditions, the Fuel Oil No. 4 will be exported in two shipments of 190,000 barrels +/- 10% each. The anticipated loading windows are 12-14 December 2019 and 22-24 December 2019.
A total of 39 companies were qualified to participate in the tender, and six excuses and three offers were received from Freepoint Commodities LLC., Glencore Ltd. and Trafigura Pte. Ltd.
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