Ecuador’s state-owned oil company Petroecuador said on Saturday that it had awarded a tender to export some 1.44 million barrels of Oriente-grade crude to a unit of Royal Dutch Shell PLC.
Shell Western Supply and Trading presented the best offer of six companies that submitted bids, offering to pay a discount of $1.39 to West Texas Intermediate crude prices.
Shell beat out offers by Norway’s Equinor ASA, China’s Petrochina International Co Ltd, US refiner Phillips 66, trading company Trafigura Pte Ltd and Unipec America Inc, a unit of China’s Sinopec, Petroecuador said.
Shell will export the oil through for shipments of around 360,000 barrels each during the month of March, Petroecuador said.
Source: SABC News (sabcnews.com)