December 2, 2013 / 4:55 PM / 4 years ago

Costa Rica's Recope and Petroperu buying fuels, Pacific Rubiales offers Colombian crude

HOUSTON, Dec 2 (Reuters) - Costa Rica’s state-run refining company Recope launched two tenders to buy 800,000 barrels of fuel oil and one 20,000 barrel cargo of MTBE, to be received between December 2013 and July 2014 at Port Caldera and Moin terminals, according to documents seen by Reuters on Monday.

The first Recope’s tender is to buy 8-10 cargoes of 85,000-115,000 barrels each of fuel oil with 1.8 percent sulfur, to be received at Port Caldera between February and July 2014.

The first cargo should be delivered the first week of February and bidders must submit their prices indexed to U.S. Gulf Coast fuel oil number 6 before December 5. The company said that it could ask for up to four additional cargoes of same volume.

The second Recope’s tender is to import one 20,000 barrel cargo of MTBE (Methyl Tert-Butyl Ether, used for oxygenate gasoline), to be received at Moin terminal between December 25 and January 5. The firm will receive offers until December 3.

Recope, which operates the 25,000 barrel per day (bpd) Cano Limon refinery, awarded a previous tender in August to Valero Energy to receive 67 cargoes with a total volume of 14.25 million barrels of motor gasoline, diesel and jet fuel during 2014. The Puerto Limon refinery in Moin is undergoing an expansion program to reach 60,000 bpd of capacity in 2015.

The Peruvian state-run oil company Pluspetrol also launched a tender to buy two combined cargoes of 290,000 barrels each of ultra low-sulfur diesel (ULSD) and jet fuel, to be received at Conchan and Callao ports.

The first cargo must be delivered between December 28 and January 2, while the second one is scheduled for January 26-30. Bids will be received until December 4 and they should be indexed to U.S. Gulf Coast ULSD and jet 54.

While Recope and Petroperu are looking for fuels to buy, the Canadian oil company Pacific Rubiales, the largest private operator in Colombia, launched its first monthly tender to sell one 1 million barrel cargo of Castilla crude, for delivery on January 1-20.

The company said it will only receive offers indexed to NYMEX WTI front month prices. Sellers will include any combination of Pacific Rubiales’ subsidiaries (Meta Petroleum, Pacific Stratus Energy and C&C Energy Barbados).

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