Trade

Ecuador to purchase 100,000 bbls of Nigerian crude

Tuesday, 22 September 2015 15:28

A firm working for Ecuador’s government has announced that it is set to enter talks with the Nigerian National Petroleum Corporation (NNPC) over a prospective investment to buy 100,000 bbls of light sweet crude from Nigeria, Energymix reports.

According to Victor M. Rojas, president of Power-Tech Engineers which provides engineering services for Ecuador’s main refinery, the country is in view of  a potential tender for as much as 100,000 bbls of low sulfur crude oil to be delivered in a one-year period and would like to transact the business directly with the NNPC.

Ecuador is however the smallest member of the Organization of the Petroleum Exporting Countries (OPEC), which produces around 500,000 bbls of crude oil per day and is believed to be seeking to import low-sulfur Nigerian crude grades which are lighter and sweeter than the heavy sour Napo and Oriente grades which are produced domestically.

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