Corpetrolsa, the first company to sign a contract with Petroecuador to lease infrastructure for 15 years

The private company Corpetrolsa and the state-owned Petroecuador signed a fifteen-year contract for the reception, transportation, storage and dispatch service of petroleum products.. In this way, Corpetrolsa becomes the first private company to enter the fuel import market and contracts the services of Petroecuador’s infrastructure.

According to Petroecuador, this will allow it to optimize existing resources through the use of the infrastructure of the state oil company, as established by Executive Decree 1158, whose Fourth General Provision states that “Public companies must provide the infrastructure in exchange for the payment of a reasonable rate for volume and permanence, for imports, reception, transport and storage, and dispatch of fuels, with their cost and margin. The rate will be established by the Agency for the Regulation and Control of Energy and Non-Renewable Natural Resources ”.

The event was attended by the Minister of Energy and Non-Renewable Natural Resources, Juan Carlos Bermeo, as a witness of honor.

The Minister of Energy and Non-Renewable Natural Resources, Juan Carlos Bermeo Calderon, congratulated Corpetrolsa for having the courage to enter this monopoly market that had been managed, until now, by Petroecuador. He reported that this commercial agreement is part of Decree 95, signed last July, which will benefit both parties and will generate income for the public company and the country. “For the execution of this contract, the Esmeraldas, La Libertad and Tres Bocas oil docks may be used, in addition to the pipelines, terminals and refineries, all of these assets belonging to EP Petroecuador. We are looking for the best options for new investments to come to the hydrocarbon sector, putting into practice what Decree 95 establishes and using the existing infrastructure“, said.

For his part, the general manager (S) of EP Petroecuador, Pablo Luna, explained that the collection of fees It will be based on what is established by the Agency for the Regulation and Control of Energy and Non-Renewable Natural Resources (ARC). “There is a differentiated rate for the use of each segment of the infrastructure, which allows companies to carry out pilot plans and EP Petroecuador to charge for the differentiated use, that is, there is the option of the single rate of $ 0.027665 per gallon, which will be applicable as long as the distribution of the product is complied with in all the terminals that were considered for setting the rate“, he claimed.

For his part, the representative of Corpetrolsa, Jairo Molina Bustos, explained that the objective of his company is to be able to import fuel with better quality than the one that is now marketed in the country.

It should be noted that, on September 6, 2021, the company Corpetrolsa SA was qualified and authorized to carry out the supply activities of hydrocarbon derivatives, biofuels, their mixtures, including LPG and natural gas, in all market segments. EP Petroecuador will guarantee that the quality of the hydrocarbon derivatives to be delivered to the dispatch points is within the technical specifications as stipulated in this contract. In addition, the private company will be able to import the derivatives it wishes, as long as it complies with the NTE INEN standards.