China's Unipec won tender to buy 1 million bbl cargo of Escalante crude -traders
HOUSTON Oct 18 (Reuters) - Chinese trading firm Unipec has won a tender of sweet Argentine crude Escalante launched this month, allowing it to buy from Pan American Energy one cargo of 1 million barrels, two traders close to the deal told Reuters.
While U.S. refineries start the autumn maintenance season, Asian buyers are taking advantage of the deals with cheaper prices for Latin American crudes.
Traders did not elaborate about prices of this cargo, for delivery on November 16-30 at Caleta Cordova terminal.
Escalante is a medium sweet crude with a density of 24 API degrees, extracted from the basin with the same name in southern Argentina by Pan American Energy, controlled by British BP .
Along with Latin American crudes, Unipec, the trading branch of Asia's top refiner Sinopec Corp, is expanding its participation in the purchase of crudes from the North Sea. (Reporting by Marianna Parraga; Editing by Terry Wade)
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