Tipco Wins Bid To Export Napo Crude

(Energy Analytics Institute, 11.Apr.2021) — EP PetroEcuador awarded the Thai company Tipco Asphalt Public Company Limited a deal for the export of 720,000 barrels of Napo crude.

The barrels will be offered in 2 shipments of 360,000 barrels +/- 5% each, which will be delivered in April 2021, PetroEcuador announced 11 April 2021 in an official statement.

“This sale of Napo crude will represent an estimated income for the Ecuadorian state of $44 million,” PetroEcuador General Manager Gonzalo Maldonado said in statement.

Approximated 46 qualified companies were invited to participate in the bid process, of which five offers were presented:

• Tipco Asphalt Public Company Limited: -$2.98/bbl

• Petrochina International CO. LTD.: -$4.42/bbl

• Trafigura PTE. LTD.: -$4.45/bbl

• Shell Western Supply and Trading Limited: -$4.79/bbl

• Phillips 66 Company: -$6.42/bbl

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By Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.