Ecuador awards 20.2 million barrel oil supply contract to Shell unit
Reuters
Published Dec 06, 2019 19:47
Ecuador awards 20.2 million barrel oil supply contract to Shell unit
QUITO (Reuters) - Ecuador's state-run oil company Petroecuador said on Friday it had awarded a unit of Royal Dutch Shell (L:RDSa) a contract to lift some 20.2 million barrels of Oriente-grade crude between 2020 and 2023.
Shell Western Supply and Trading beat out the other two bidders, Trafigura [TRAFGF.UL] and Mitsubishi (T:8058), by offering to pay a premium of 71 cents per barrel above the reference price for West Texas Intermediate crude.
Petroecuador expects the deal to bring in some $950 million. The Andean country produces some 545,000 barrels per day of crude.
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Written By: Reuters
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