Petroperu News

Peruvian state-run oil company Petroperu has launched a tender to sell a 450,000-500,000 barrel cargo of Loreto heavy crude for delivery April 15-30 at Boyovar port, according to a document seen by Reuters on Monday.   * Bids will be accepted through March 1, indexed to Brent crude front month prices   * Sellers of the cargo also include Peru's Perupetro and Canada-based Pacific Stratus Energy   * Petroperu earlier this month offered to buy two cargoes of a Latin American, U.S. or West African crude for April delivery (Reuters; Reporting by Marianna Parraga Editing by Chizu Nomiyama)

Diesel fuel exports from the U.S. Gulf Coast declined sharply since December as increasing output from refiners in South American markets and brimming stocks in Europe squeezed key outlets, Thomson Reuters data show. As a result, distillate inventories in the region have risen 27 percent since October to more than 50.8 million barrels, the highest since September 2011. That level, 90 percent of the region's 26-year high of 55.9 million barrels reached in February 2011, has pressured cash ultra-low sulfur diesel (ULSD) differentials in the U.S. Gulf Coast market in recent weeks. The U.S. Energy Information Administration said last week that distillate exports made up an average of 1.19 million barrels per day of the 4.3 million bpd of U.S. refined product exports last year.

Peru is reducing royalties on oil and gas production to about 5 percent on average from the current 20 percent in order to encourage exploration amid slumping prices, the government said Wednesday. The smaller take should help Peru boost interest in new oil contracts that will come up for bidding soon, said Rafael Zoeger, the president of state energy agency Perupetro. Peru has repeatedly pushed back auctioning on more than two dozen oil blocks because of a lack of interest in recent years. "I'd rather get 5 percent on some production than 20 or 30 on none," Zoeger said at a news conference. Perupetro will tailor royalties for each concession, setting a lower rate for more costly and less accessible areas, he said.

State-run Petroperu has launched a tender to buy a 360,000 barrel cargo of a Latin American or West African crude to be received at Conchan and Talara ports on September 26-30, according to a document seen by Reuters on Tuesday. The Peruvian company has been buying 1-2 monthly cargoes of crude on the open market so far this year and it has also recently tendered to purchase fuel oil, naphtha, ultra low-sulfur diesel (ULSD) and biodiesel. For this tender, the company will accept offers of Ecuadorian Napo or Oriente crudes; Colombian Vasconia, Castilla, South Blend or Cano Limon; Venezuelan Lagotreco, Mesa 30, Santa Barbara or Leona 24; Argentine Escalante, Canadon Seco or Roncador 28; and Brazilian Bijupira or Marlim. It will also accept offers of any West African crude.

State-run Petroperu is offering to sell a 220,000 barrel cargo of fuel oil for delivery at Talara port on September 6 to 10, according to a tender document seen by Reuters on Tuesday. The oil company in July sold a similar cargo of fuel oil that will be loaded this week. It has also been actively buying crude and fuel cargoes on the open market in recent months. For this tender, the company is offering to deliver fuel oil with maximum 1.4 percent sulfur or heavy fuel oil with up to 1.5 percent sulfur. The product must be exported from Peru.

A consortium formed by units of local builder Grana y Montero and Germany's Oiltanking won a 20-year contract for managing five fuel terminals in Peru, Grana y Montero said on Wednesday. The consortium will invest about $225 million in the project, with $190 million returned in the form of discounted payments to state-run energy company Petroperu, Grana y Montero said via email. Each company controls a 50 percent stake in the local consortium, said Grana y Montero, Peru's biggest construction company. Petroperu, which owns the terminals and awarded the management contract, has said it is planning a $3.5 billion expansion of its main refinery, Talara, to boost output by 50 percent to 96,000 barrels per day. (Reporting By Marco Aquino; Editing by Dan Grebler)

State-run Petroperu launched a tender to buy six 290,000-324,800 barrel cargoes of ultra low-sulfur diesel (ULSD), to be received from May to June at its Conchan, Mollendo and Callao ports in Peru, according to an invitation seen by Reuters on Wednesday. Previously this month, Petroperu offered to buy one 220,000 barrel cargo combining cracked naphtha and high octane gasoline blend stock (HOGBS) and two 100,000 barrel cargoes of biodiesel for delivery from May to June. According to this tender documents, the first ULSD cargo should arrive to Peru on May 4-8. The company added that it will receive bids until April 10 and they must be indexed to ULSD prices from the U.S. Gulf Coast. The ULSD cargoes, with maximum 15 parts per million sulfur, must be exclusively for Petroperu.

State-run Petroperu launched a tender to buy two 100,000 barrel cargos of biodiesel to be received from May 2 to June 6 at Talara, Conchan and Mollendo ports, according to a document seen by Reuters on Friday. The oil company, which operates most of Peru's refineries, this week also launched a purchase offer for a 220,000 barrel cargo combining cracked naphtha and high octane gasoline blend stock (HOGBS) for May. Petroperu will receive offers until April 9 for this tender and they must be indexed to diesel number 2 from the U.S. Gulf Coast. The biodiesel must contain a maximum of 15 parts per million sulfur, the document says. (Reporting by Marianna Parraga; editing by Anna Driver)

Reuters - State-run Petroperu launched a tender to sell one 220,000 barrel cargo of virgin naphtha to be delivered on April 11-15 at Talara port, according to a document seen by Reuters on Wednesday.   Petroperu usually goes to the open market to sell at least one monthly cargo of virgin naphtha. The company in February also bought two 290,000 barrel cargoes of ultra low-sulfur diesel (ULSD) that will be delivered this month.   According to this tender's terms, the virigin naphtha cargo must be exported from Peru. The company does not allow to deliver it to any Peruvian port.   Bids should be submitted before March 12 and they must be indexed to unleaded gasoline 87 from the U.S. Gulf Coast. (Reporting by Marianna Parraga)