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 Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Vestas Profit Beats Forecast

Danish wind turbine maker Vestas Wind Systems posted much higher than expected second-quarter earnings and slightly increased its guidance for the full year, signaling

MV Cape Ray Signals DTRA 'Mission Complete'

The Defense Threat Reduction Agency announces the successful completion of the Cape Ray's mission to destroy Syria's chemical weapons components at sea. The Defense Threat Reduction Agency/U.

HK's COSCO International Reports Strong Profit Growth

For the  six months ended 30th June 2014, shipping services provider COSCO International has announced that its 2014 Interim Results show strong profit growth with Net Profit up 45% YOY.

Tanker Trends

Scorpio Tankers on Major Fleet Expansion

Scorpio Tankers Inc. (NYSE: STNG) (the "Company") announced today that it has reached an agreement with an unrelated third party to purchase an MR product tanker

NOC to Load First Oil in a Year from Es Sider

Libya is due to start loading its first crude oil tanker in a year from top port Es Sider on Tuesday following a year-long blockade by eastern federalists, a Libyan

OceanSaver Reports Surge in BWT Orders

OceanSaver said it has received a rush of ballast water treatment (BWT) system orders for large vessels. The Norwegian firm, a BWT specialist developing solutions since 2003,

Finance

Vestas Profit Beats Forecast

Danish wind turbine maker Vestas Wind Systems posted much higher than expected second-quarter earnings and slightly increased its guidance for the full year, signaling

HK's COSCO International Reports Strong Profit Growth

For the  six months ended 30th June 2014, shipping services provider COSCO International has announced that its 2014 Interim Results show strong profit growth with Net Profit up 45% YOY.

Asia–U.S. Container Lines to Introduce Freight Increase

The Transpacific Stabilization Agreement (TSA) informs that member container shipping lines are proposing an across-the board general rate increase (GRI) of at

Energy

Russia Conducts High North Geophysical Surveys

For the first time, as part of the Arctic-2014 high-latitude expedition, nuclear icebreakers 'Akademik Fedorov' and 'Yamal' have conducted an entire complex of geophysical research at the North Pole,

Mærsk Putting Valuable Experience to Good Use

The Mærsk Deliverer rig team has initiated seven local acceleration programmes in Angola. The goal is to train and develop local talent to take on increasingly

CIMC Raffles' COSLInnovator is "Rig of the Month"

In July 2014, the CIMC Raffles North Sea semisubmersible drilling rig unit, COSLInnovator, was awarded as "Rig of the Month” again by STATOIL. It is the fifth

Fuels & Lubes

HK's COSCO International Reports Strong Profit Growth

For the  six months ended 30th June 2014, shipping services provider COSCO International has announced that its 2014 Interim Results show strong profit growth with Net Profit up 45% YOY.

Oil Spills into Ohio River from Coal Plant

The U.S. Coast Guard closed a 15-mile stretch of the Ohio River on Tuesday after at least five thousand gallons of fuel oil spilled from a 60-year-old power plant owned by Duke Energy near Cincinnati,

NOC to Load First Oil in a Year from Es Sider

Libya is due to start loading its first crude oil tanker in a year from top port Es Sider on Tuesday following a year-long blockade by eastern federalists, a Libyan

News

Shipping Industry Issues Ebola Virus Red Alert

Three global shipping organisations have issued guidance to their members on the risks posed to ships’ crews calling in countries affected by the Ebola virus, and

Port of Long Beach to the Rescue of Birds

The Port of Long Beach announced Tuesday that it is expanding its partnership with International Bird Rescue, a global expert in oiled wildlife emergencies and aquatic bird care,

Mærsk Putting Valuable Experience to Good Use

The Mærsk Deliverer rig team has initiated seven local acceleration programmes in Angola. The goal is to train and develop local talent to take on increasingly

Offshore Energy

Maersk Drilling Rig Team Train Local Talent

Maersk Drilling says that its 'Mærsk Deliverer' rig team has initiated seven local acceleration programmes in Angola. The goal is to train and develop local talent

Russia Conducts High North Geophysical Surveys

For the first time, as part of the Arctic-2014 high-latitude expedition, nuclear icebreakers 'Akademik Fedorov' and 'Yamal' have conducted an entire complex of geophysical research at the North Pole,

Mærsk Putting Valuable Experience to Good Use

The Mærsk Deliverer rig team has initiated seven local acceleration programmes in Angola. The goal is to train and develop local talent to take on increasingly

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Winch
rss | archive | history | articles | privacy | terms and conditions | 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)