EP Petroecuador awards export of 504 thousand barrels of vacuum diesel (VGO)
This version of Petroecuador has been published by machine translation.
With a spread of +3.05 USD, the state-owned company Petroecuador awarded the Singaporean company Trafigura PTE. LTD., The export of 504 thousand barrels of vacuum diesel fuel (VGO) , presenting the best offer and accepting the General Conditions.
EP Petroecuador Managing Director Gonzalo Maldonado said that in addition to generating additional income for the company, this operation was necessary to keep the Esmeraldas refinery operational :
” As this export is not carried out, there could be negative effects such as the output of the operation of the non-catalytic unit 1, a decrease in the operation of the HDS unit (producer of Premium Diesel), among other subsequent problems. ,” he said.
Within the framework of the international export competition, EP Petroecuador invited twenty-eight qualified companies to the register of suppliers of international trade management, among which the following four offers were presented:
(USD / BL)
NOVUM ENERGY TRADING CORP.
PETROCHINA INTERNATIONAL CO. LDT.
TRAFIGURA PTE. LTD.
According to the basis of this competition, the export of vacuum diesel fuel (VGO) will be made in three (3) shipments of 168,000 +/- 10% each at the option of EP Petroecuador and will be delivered between June and July 2021.. The international marker used for the sale of vacuum diesel fuel (VGO) will be Nymex, WTI, First Line Settlement and approximate revenue to the state with this export are estimated at USD 36.5 million during the period mentioned.
During the bid opening process, delegates from the Bureau of International Trade Management, the Attorney General’s Office, the Prevention and Money Laundering Unit of EP Petroecuador, and virtually with officials from the public company Flota Petrolera Ecuatoriana (EP FLOPEC) and representatives of virtually bidding companies. The process was also broadcast live on social media .
The VGO or gas oil produced by the Esmeraldas refinery is a derivative of the vacuum distillation units which is used as feed for the fluidized catalytic cracking (FCC) unit, from which the liquefied petroleum gas, naphtha to high octane number (for the production of Extra and Super Gasolines) and the cyclic oils which are used as a diluent for the residues produced in the same refinery to prepare the fuel oil No. 6.