Petrovietnam wins contract to supply Ecuador with diesel oil

19 July 2013 23:57  [Source: ICIS news]

MEDELLIN, Colombia (ICIS)--Vietnam’s state-run oil and gas firm Petrovietnam has won a contract to supply Ecuador with 2.16m barrels of diesel oil, Petroecuador said on Friday.

Petrovietnam beat six other bidders with a price differential of $4.34/bbl (€3.30/bbl), Ecuador’s state energy company said in a statement.

Under the terms of the deal, Petrovietnam will supply the South American country with nine shipments of 240,000 barrels each beginning in August.

Petroecuador also announced that it had won a contract to supply PMI Trading, the trading arm of Mexican state-owned energy company Pemex, with 720,000 barrels of low-octane naphtha.

In a previous statement, Petroecuador said that it would have to increase imports of refined products during an ongoing revamp of the company’s 110,000 bbls/day Esmeralda refinery in northwest Ecuador.

Earlier this month, Connecticut-based retailer Noble Americas won a contract to supply Ecuador with 6m barrels of premium grade diesel.

($1 = €0.76)

By: Simon West

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