(Energy Analytics Institute, 25.Aug.2020) — EP PetroEcuador awarded the importation of 2,950,000 barrels of High-Octane Naphtha (NAO) RON 93 to Trafigura Pte, which won the auction offering a differential of +$7.06 per barrel.
Of the 44 companies invited to the international auction on 18 August 2020, three offers were received from the following companies: Gunvor S.A., Trafigura Pte. Ltd. and Vitol Inc., PetroEcuador announced 25 August in an official statement.
According to the terms and conditions of the auction, the NAO Ron 93 volumes will reach Ecuador in 10 shipments of 295,000 +/- 2% barrels each. The first delivery will arrive between 4-6 September.
NAO RON 93 is used for blending in the production of gasoline.
The marker for volumes is the Midpoint Platts Unleaded 87 Prompt Pipeline, from the US Gulf Coast. It is estimated shipments will be delivered until December 2020.
Authorities from the International Trade Management, representatives of the Attorney General of EP PetroEcuador, the Head of Money Laundering Prevention from Flota Petrolera Ecuatoriana (FLOPEC) as well as the bidding companies participated in the opening of the envelopes process, which complied with strict sanitary protocols, PetroEcuador said in the statement.
By Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.