HOUSTON May 21 Repsol, BP and
Mitsubishi will buy a total of 21 cargoes of Oriente and Napo
crudes from Petroecuador between June and August after winning
tenders launched earlier this month, traders told Reuters.
Petroecuador sells most of its crudes to Petrochina, but it
also occasionally tenders to sell crude on the open market.
This week the company also awarded to U.S. firm Citizens
Energy another tender to buy 18 cargoes of ultra low-sulfur
diesel (ULSD) to be received in Ecuador in the coming months.
Repsol agreed to pay $5.90 per barrel below the WTI price
for five 360,000 barrel cargoes of medium Oriente crude and BP
will pay $4.04 per barrel under the WTI price for another parcel
of five Oriente cargoes, the sources said.
The British company also won a third parcel of Oriente crude
with a bid of WTI minus $3.21 per barrel.
The first Oriente cargo will be picked up at Esmeraldas
terminal on June 4-6, according to the tender's terms.
For the six 360,000 barrel cargoes of heavy Napo crude
offered by Petroecuador, Mitsubishi won with an offer of $10.94
per barrel below WTI price, the sources added. The first Napo
cargo must be delivered on June 10-12.
Oil and trading firms Unipec and Tesoro also bidded for
these tenders, launched on May 7.
Ecuadorian Napo and Oriente crudes are highly demanded by
refining companies and international trading firms because they
are good grades to mix with a growing offer of light crudes.
(Reporting By Marianna Parraga)