Ecopetrol to Buy ULSD, Gasoline and Diluent Naphtha

MarineLink.com
Wednesday, March 12, 2014

Reuters - Colombia's Ecopetrol launched several tenders to buy finished fuels and feedstock on the open market, according to documents seen by Reuters on Wednesday.

The 80,000 barrel per day (bpd) Cartagena refinery, operated by Ecopetrol to convert Colombian crudes into fuels to be exported, will shut down several operational units this year to start a $6 billion expansion project that will double its crude distillation capacity, the government has said without providing details of the work plan.

State-run Ecopetrol has launched almost a dozen tenders in recent weeks to be supplied with the fuels it will need during the work, traders said.

According to invitations seen by Reuters, the firm this time is looking for four 280,000-290,000 barrel cargos of ultra low-sulfur diesel (ULSD) with maximum 30 parts per million (PPM) sulfur, to be received at the U.S. Gulf Coast, the Caribbean or Pozos Colorados port in Colombia.

The company expects to receive the cargoes from March 26 to May 5. It will accept offers until March 13 for that tender.

Ecopetrol is also buying two fuel cargoes to be received between March 24 and April 11 at the U.S. Gulf Coast or Buenaventura port in Colombia.

The first one should contain 50,000-55,000 barrels of ULSD with maximum 30 PPM sulfur and the second one must combine 68,000-70,000 barrels of ULSD and 23,000-25,000 barrels of gasoline RON 92. For this tender, Ecopetrol will receive bids until March 12.

The third tender launched by Ecopetrol is to buy one 290,000-310,000 barrel cargo of diluent naphtha for delivery April 7-11 at Pozos Colorados. Prices must be indexed to natural gasoline from Mont Belvieu and bids will be received until March 12.

The company and the Cartagena refinery last month bought on the open market at least two cargoes of gasoline, one cargo of jet fuel, five cargoes of ULSD and three cargoes of diluent naphtha, all to be received in March.

This volume is higher than what the company usually buys on the open market.

(Reporting by Marianna Parraga in Houston and Luis Jaime Acosta in Bogota)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Matson Announces Q2 Dividend of $0.18/Share

The Board of Directors of Matson, Inc. today declared a second quarter dividend of $0.18 per common share. The dividend will be paid on June 2, 2016 to all shareholders

Subsea 7 Profits Dip in Q1

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.

WCI's Toohey Applauds WRDA 2016 Bill

Waterways Council, Inc. (WCI) President/CEO Michael J. Toohey issued a statement regarding today’s mark-up and passage of the Water Resources Development Act (WRDA)

Finance

Matson Announces Q2 Dividend of $0.18/Share

The Board of Directors of Matson, Inc. today declared a second quarter dividend of $0.18 per common share. The dividend will be paid on June 2, 2016 to all shareholders

Subsea 7 Profits Dip in Q1

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.

Baltic Index Dips on Weaker Rates for Bigger Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday, hurt by lower rates for capesize and panamax vessels.

Energy

Subsea 7 Profits Dip in Q1

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.

India Instructs Disputed Tanker to Await UN Orders

India has instructed an Indian-flagged oil tanker that has been blacklisted by the U.N. not to discharge its cargo of crude oil from Libya's rival eastern government

Norway: Oil Industry Safety Deteriorated in 2015

The risk of accidents in Norway's oil industry rose last year after reaching record lows in 2014, a survey by the Nordic country's safety watchdog showed on Thursday.

Fuels & Lubes

Norwegian Escape Equipped with Alfa Laval Systems

Norwegian Escape, the first cruise ship in Norwegian Cruise Line’s new Breakway Plus Class, was delivered in October 2015. The 164,600 GT vessel, which boasts 19 decks and 4,

ExxonMobil: 5 Tips on Switching Fuels in ECAs

ExxonMobil has compiled five ‘top-tips’ to help vessel operators effectively switch fuels when entering and exiting Emission Control Areas (ECAs) without introducing maintenance issues.

New ClassNK Guidelines for Gas-fueled Ships

Classification society ClassNK has released the fourth version of its Guidelines for Gas Fueled Ships.   With the introduction of increasingly strict environmental regulations,

News

Matson Announces Q2 Dividend of $0.18/Share

The Board of Directors of Matson, Inc. today declared a second quarter dividend of $0.18 per common share. The dividend will be paid on June 2, 2016 to all shareholders

Disabled Fishing Vessel Towed to Maine

The 60-foot fishing boat Paulo Marc was towed by the crew of U.S. Coast Guard Cutter Moray after the fishing vessel became disabled Wednesday about 90 miles east of Portland, Maine.

Blacklisted Oil Tanker Returning to Libya

An Indian-flagged oil tanker is returning to Libya, the North African country's rival oil corporation said on Thursday, after its failed first attempt to export

Offshore Energy

Subsea 7 Profits Dip in Q1

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.

Ulstein Verft's First Wind Service Vessel Launched

Shipbuilder Ulstein Verft has launched its first vessel within the renewable energy segment, and also the first with the newly-developed X-STERN hull line design.

Challenges for Offshore Exploration

The oil discoveries are down 47% y-o-y on an annualised basis so far in 2016, global rig utilisation has dropped 22 percentage points to 73% in two years, and 29% of seismic units are inactive,

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Salvage Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1364 sec (7 req/sec)