(Energy Analytics Institute, 2.Dec.2020) — Ecuador’s state entity EP PetroEcuador awarded Novum Energy Trading Corp. a deal to import 1,260,000 barrels of cutter stock.
Novum won the deal with a differential of plus $6.86 per barrel.
Approximately 35 qualified companies were invited to participate in the bid process, PetroEcuador announced 2 December 2020 in an official statement, of which five offers were presented from Arkham SA, Glencore LTD., Novum Energy Trading Corp., Trafigura PTE. LTD. And Vitol INC.
According to the bid terms and conditions, the first delivery will reach Ecuador between 16-18 December 2020. The volumes offered will be imported in six shipments of 210,000 barrels +/- 2% each, which are estimated to be delivered until March 2021.
The purchase of cutter stock will be governed by the Platts midpoint No.2 prompt marker.
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By Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.
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