This Tuesday morning, May 9, the public opening of bid envelopes for the export of 1,080,000 barrels of Oriente oil and 1,080,000 barrels of Napo oil, which are expected to be delivered this month.

Crude penalty of $15 to $21 a barrel in January 2023, worst on record, goes hand in hand with high rates for Flopec ships

In the case of Oriente crude and Napo crude, according to the state-owned oil company, thirteen excuses and two bids were presented for each of them, which the International Trade Administration will analyze before awarding.

The event was attended by Reinaldo Armijos, director of international trade of the state-owned company; with representatives of the oil company and JP Flota Petrolera Ecuatoriana (Flopec); and electronically by officials of the Ministry of Energy and Mining, the Agency for Regulation and Supervision of Energy and Non-Renewable Natural Resources (ARC) and the companies that submitted their bids.

Fuel imports have already almost equaled crude oil exports

Sales of Oriente and Napo crude oil will be regulated by the West Texas Intermediate (WTI) benchmark. 43 and 42 qualified companies in the Register of Suppliers of the International Trade Administration were invited to these processes.

During the first quarter of 2023, Petroecuador exported a total of 25’325,214.89 barrels of oil and fuel oil Not. 6, of which 13,351,902.13 correspond to crude Oriente oil; 9,312,141.39 for Napo crude and 2,661,171.37 for fuel oil 6. With this export, the company generated economic income for the state of Ecuador in the amount of 1,563,384,862.32 dollars.