Ecuador exported Oriente crude for the first time in a deep draft vessel, via OCP’s marine terminal


This version of Petroecuador was published using machine translation.

Today EP Petroecuador exported the first shipment of 1,080,000 barrels of Oriente crude through Terminal OCP, for which it used the interconnection of the Balao – Punta Gorda maritime terminals.

The international cash sales competition, organized by the state oil company on June 3, awarded the company Petrochina International CO. LTD a spread of -2.49 USD and a price of +2.00 USD.

The Minister of Energy and Non-Renewable Natural Resources, Juan Carlos Bermeo Calderón, indicated that the delivery of this volume of crude was made through the VLCC (Very Large Gross Carrier) , who entered the country for the first time, an action that was possible thanks to the operating contract signed between EP Petroecuador and OCP Ecuador SA, the same as for the use of this interconnection has a rate of zero (0 , 0) USD / Bl.

Using this export alternative opens new opportunities on the international market for Ecuadorian crude (especially in Asia), in addition to maximizing revenues from oil marketing and offering buyers an alternative so that they can load larger capacity vessels. , reducing their logistics costs ” , he expressed.

For his part, the general manager (s) of EP Petroecuador, Pablo Luna, indicated that this transaction will generate income for the country of approximately $ 141,000,000 plus an additional $ 2,160,000 for exports via the OCP terminal.

“The use of these facilities will not be subject to the payment of a fee. Likewise, it will provide an additional alternative to the Balao terminal for the export of crude oil and will reduce loading times tankers, because of the capacity of the OCP pumps, ”he stressed.

On a related note, OCP Ecuador‘s commercial director, Guillermo Freire, said that the interconnection of terminals increase loading capacity from 700,000 to 2,000,000 barrels . According to figures from this company, he said, from 2019 to 2020, Napo crude increased its exports to China, Chile and Panama by 3.52%, 1.21% and 9.66%. respectively ; Today, with the export of crude oil from the East, the participation of these markets could be broadened and the price of its marketing could improve because there are more suppliers for it.

The interconnection allows EP Petroecuador to use the OCP Maritime Terminal for the reception, storage and export of Crudo Oriente with a quality higher than 23 ° API.

This event was attended by the Deputy Minister of Hydrocarbons, Carlos Suárez, the Managing Director of EP Petroecuador, Pablo Luna, the Commercial Director of OCP Ecuador, Guillermo Freire, the Managing Director of the Listed company Flota Petrolera Ecuatoriana (EP Flopec) , Pilar Ferri Moncayo, among other authorities, as well as representatives of the national and local media. On this occasion, the participants traveled for two hours on the high seas to see the crude oil loading operations on the ship.

In addition, the use of larger capacity vessels (tonnes of DWT deadweight) opens up new opportunities for Ecuadorian crude, making it more competitive and attractive on the international market, with the diversification of customers and more distant destinations, where refining systems require it. natural resource with the quality that Ecuador has.


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