Petroecuador Awards Tender for 8 ULSD Cargoes

Posted by Joseph Keefe
Tuesday, May 20, 2014

State-run company Petroecuador has awarded a tender to buy 18 cargoes of ultra low-sulfur diesel (ULSD) from U.S.-based oil firm Citizens Energy, a trader close to the deal told Reuters on Tuesday.

The cargoes, of 240,000 barrels each, will be received in Ecuador starting in June.

Ecuador, Latin America's sixth-largest crude producer and the smallest OPEC member, has ramped up tenders to import finished fuels in anticipation of a major overhaul at the 110,000 barrel per day (bpd) Esmeraldas refinery in October.

This is the second tender that Petroecuador has awarded to Citizen Energy in recent months, after buying from it four 210,000 barrel cargoes of cutter stock to produce fuel oil that started to be delivered in April.

Citizen Energy agreed to pay $3.28 per barrel over the ULSD price in the U.S. Gulf Coast, the trader added.

The tender was launched on May 2. The first cargo, with maximum 15 parts per million sulfur, must be received on June 3-5 at Esmeraldas, La Libertad or Punta Arenas terminals, according to the offer's terms.

Oil and trading firms Noble Americas, BB Energy, Taleveras Group, Astra, Delaney, Arkham and Petrochina also bidded in this tender.


Reporting By Marianna Parraga

Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


IHC Services Secures Dredger Repair Contract

IHC Services, a subsidiary of Dutch shipbuilder and repairer Royal IHC, informs it has secured an order for a renovation project for a dredging vessel owned by Huta Marine Works Ltd in Saudi Arabia.

Kruszewski Joins Braemar Engineering

Braemar Engineering, the specialist maritime engineering consultancy, today announced the appointment of Chis Kruszewski to the role of Senior Electrical Engineer in its Offshore,

Damen's Third Ferry for South Korea

All good things come in threes as Damen delivers the third vessel of the year, from the Damen Fast Ferry (DFFe) series to South Korean operators. Having already


Eletrobras says Compensation for Hydro Plants Could be $330 mln

Brazil's state-run utility Eletrobras said on Friday a report into six hydroelectric plants found the assets had a remaining value of 1.3 billion reais ($332

Brazil Court Allows Lula Questioning in Petrobras Corruption Case

Brazil's Supreme Court authorized the questioning by Federal Police of ex-President Luiz InĂ¡cio Lula da Silva as a witness in a broadening corruption case focused

MARAD to Fund Study on LNG Conversions

MARAD provides funding to further study LNG as marine fuel for containerships The U.S. Maritime Administration (MARAD) announced it has entered a $900,000 cooperative


Life Ring Found from Cargo Ship Missing off Bahamas

A life ring has been found from the cargo ship El Faro, which went missing on Thursday after sailing through Hurricane Joaquin in the Bahamas, the U.S. Coast Guard said on Twitter on Saturday.

USCG Urge Caution Ahead of Hurricane Joaquin

The Coast Guard urges the public Thursday to use extreme caution and to prepare for the onset of heavy weather, extreme sea conditions, storm surge and high

Cargo Ship Missing in Hurricane Joaquin

The fate of more than 30 crew aboard a cargo ship that ran afoul of Hurricane Joaquin off the Bahamas was unknown on Friday as the powerful storm battered the island chain for a second day.

Fuels & Lubes

New Class Rules Favor Seawater Lubricated Props

Classification societies are changing their monitoring rules for seawater-lubricated propeller shafts in line with the rules governing the inspection and withdrawal

MARAD to Fund Study on LNG Conversions

MARAD provides funding to further study LNG as marine fuel for containerships The U.S. Maritime Administration (MARAD) announced it has entered a $900,000 cooperative

Stolt-Nielsen's Q3 Numbers Disappoint

Shipping firm Stolt-Nielsen reported third-quarter earnings below forecast on Thursday and said it remained worried by the expected influx of new product tankers in 2016 and 2017.

Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair 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: 0.1440 sec (7 req/sec)