AJOT Digital Edition
Issue #590 | Perishables | Mediterranean | Middle East | Africa Trade

Cover of issue-590.png

Peroshables

Mediterranean | Middle East | Africa Trade

View Issue #590 Now!

2014 Media Kit
  • Share this article:

Pacific Rubiales tenders to sell Colombian Rubiales and Castilla crudes

By: | at 01:04 PM

Canada-listed oil company Pacific Rubiales has launched a tender to sell a 1 million barrel cargo of Colombian Castilla heavy crude for delivery in July and a 85,000 barrel cargo of Rubiales heavy crude for the end of June, according to a document seen by Reuters on Monday.

Pacific Rubiales had reduced sales of Colombian grades on the open market in recent months while a key pipeline in the Andean country, the Cano Limon-Covenas, was out of service after a rebel attack.

Colombian exports of medium Vasconia crude have not fully recovered since the end of March.

For the Rubiales cargo to be delivered on June 27-28 at Cartagena port, Pacific and its subsidiaries Meta Petroleum, C&C Energy Barbados, Pacific Stratus Energy and Petrominerales will receive bids until June 18 and they must refer to West Texas Intermediate (WTI) front month prices.

The companies will also receive offers for the Castilla cargo until June 19 and they must be indexed to WTI or Brent crudes front month prices. The cargo will be delivered on July 29-30 at Covenas port.