Ecuador’s state oil company Petroecuador said on Monday that it had awarded a tender to purchase some 2.16 million barrels of Oriente grade crude to PetroChina, part of which will be exported via a new pipeline connection to the Punta Gorda port.
In a statement, Petroecuador said PetroChina will pay a discount of $2.49 per barrel to West Texas Intermediate (WTI) crude prices for the portion of crude exported from Balao, Ecuador’s traditional oil port, and a premium of $2 per barrel over WTI for the portion exported via Punta Gorda.
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