Pacific Rubiales Seeks to Sell Colombian Crude

Posted by Eric Haun
Monday, August 04, 2014

Canada-listed oil firm Pacific Rubiales launched a tender to sell two cargoes of Colombian Castilla crude and a cargo of Vasconia crude for delivery during September at Covenas port, according to an invitation seen by Reuters on Monday.

The first cargo containing 1 million barrels of Castilla heavy crude will be loaded on Sept. 7-11 and the second one with 1.5 million barrels of the same grade will be loaded on Sept. 18-23.

A 500,000 barrel cargo of Vasconia medium crude will also be loaded at Covenas on Sept. 18-23.

Sellers of these cargoes will include any combination of Pacific's subsidiaries. The company will receive bids until August 6 and they must be indexed to West Texas Intermediate or Brent crudes front month prices.

Pacific Rubiales, Colombia's No. 2 oil producer, had reduced crude exports from March to May due to the paralysis of a pipeline in the South American country, the Cano Limon-Covenas, but it is now offering its normal volumes on the open market after the line resumed operations at the end of May.

(Reporting by Marianna Parraga; Editing by David Gregorio)


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