PetroEcuador seeks light crude imports

Oil

Ecuador's state-oil firm PetroEcuador has enquired about importing 30M bbls of low-sulphur crude oil with a gravity of approximately 28� API, Argus reports. The light crude is expected to be used to optimise operations at the revamped 110K b/d Esmeraldas refinery once the upgrade is completed. The request comes in the wake of rising Latin American demand for light crude imports, with i) Venezuela's PDVSA considering contracts for a five-year supply of 40-48� API crude, ii) Argentina's YPF importing Nigerian light sweet crude and iii) Mexico's Pemex gaining approval for a 100K b/d crude swap deal with the US.