QUITO, Ecuador--Spanish oil company Repsol SA (REP.MC) and Peru
state-owned oil company Petroleos del Peru-Petroperu SA
(PETROBC1.VL) on Monday won a tender to buy a total of 4.32 million
barrels of Oriente crude oil, said Ecuador state-run company
Petroleos del Ecuador, or Petroecuador.
In a statement late Tuesday, Petroecuador said Repsol will
purchase a load of 2.16 million barrels of Oriente crude oil while
Petroperu will buy six cargoes of 360,000 barrels each, also
totaling 2.16 million barrels.
Repsol will pay a premium of $8.41 per barrel over the price of
West Texas Intermediate oil while Petroperu will pay WTI plus $5.69
per barrel.
The liftings will be done between Feb. 23 and 27.
Currently, Ecuador produces about 504,000 barrels of crude oil
per day.
Write to Mercedes Alvaro at mercedes.alvaro@dowjones.com.
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