Ecuador Will Invest In 100,000 Barrels Of Nigerian Crude
Editor
A firm working for Ecuador’s government has said that it plans to enter talks with the Nigerian National Petroleum Corporation (NNPC) over a potential investment to buy 100, 000 barrels of light sweet crude from Nigeria.
The country is looking at a potential tender for as much as 100,000 barrels of low sulfur crude oil to be delivered in a one-year period and would like to transact the business directly with the NNPC, said Victor M. Rojas, president of Power-Tech Engineers which provides engineering services for Ecuador’s main refinery.
Ecuador; the smallest member of the Organization of the Petroleum Exporting Countries (OPEC), produces around 500,000 barrels 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.
