Petroecuador awards fuel supply contracts to Arkham, Delaney

21 November 2013 20:43  [Source: ICIS news]

MEDELLIN, Colombia (ICIS)--Petroecuador has awarded Swiss oil trader Arkham and investment firm Delaney Petroleum contracts to supply the nation with diesel and jet fuel, respectively, the state-controlled oil company said on Thursday.

Arkham will provide Ecuador with 4.32m bbl of No 2 diesel for a differential of $5.14/bbl (€3.86/bbl), while Delaney will supply 80,000 bbl of Jet A-1 for a differential of $17.01/bbl, the Quito-based company said.

The first deliveries will arrive in Ecuador in the first week of December, the company said.

Petroecuador has had to increase imports of refined products since a revamping of its 110,000 bbl/day Esmeraldas refinery in northern Ecuador began earlier this year.

In July, Connecticut-based retailer Noble Americas won a contract to supply Ecuador with 6m bbl of premium grade diesel.

The company also owns the 45,000 bbl/day La Libertad refinery and the 20,000 bbl/day Shushufindi refinery.

($1 = €0.75)

By: Simon West

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