The Ecuadorian authorities are analyzing not paying a debt of USD 1.5 million with Vitol, this after a corruption scandal of serious proportions.
Vitol is one of the largest hydrocarbon traders or marketers in the world and the debt originates from penalties for Petroecuador’s delays in receiving several shipments of Premium Diesel purchased from Vitol.
The diesel is part of the last contract signed between the two parties, on March 5, 2020, for the provision by Vitol of 3,920,000 barrels of premium diesel to Petroecuador.
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