(Energy Analytics Institute, Piero Stewart, 18.Nov.2020) — Ecuador’s state oil company EP PetroEcuador awarded the company Gunvor S.A. a deal for the importation of 590,000 barrels of Nafta Ron N° 80, which is used as a mixture for the manufacture of gasoline.
Gunvor won the tender with a positive differential bid of $2.47 per barrel, PetroEcuador announced 18 March 2020 in an official statement.
A total of 45 companies were invited to participate in the international tender whereby four valid offers were received from the companies: Gunvor, Trafigura Pte. Ltd., Lukoil Pan Americas LLC and George E. Warren.
The opening ceremony for the bids was attended by authorities from PetroEcuador from the Management of International Trade division, representatives from the Ecuadorian Petroleum Fleet Public Company (EP FLOPEC) and the bidding companies.
The volume offered will be imported in two shipments of 295,000 barrels +/- 2% each. The two shipments will be delivered in April 2020, PetroEcuador said.
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