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Petroperu seeks deals with Venezuela, Ecuador: company president
PLATTS
Lima
Petroleumworld.com 02 27 06
Peru's state oil company Petroperu continues to pursue bilateral accords
for crude purchases from Venezuela and Ecuador, but the company also intends
to remain in the spot market while it looks to buy larger cargoes, Petroperu
president Cesar Gutierrez said.He plans to travel to Ecuador on March 8, he told Platts in an interview
late Friday. Petroperu is also seeking meetings with Venezuelan state oil
company PDVSA in a bid to reach a bilateral supply accord, he added."What we are seeking is that they offer us good prices for a specific
number of purchases in a year," Gutierrez said.Petroperu made two purchases of about 180,000 barrels of Venezuelan
medium crude in December for processing at the 62,000 b/d Talara refinery and
the company has expressed interest in an ongoing accord due to the variety of
crude PDVSA offers.At the same time, Petroperu will continue to make purchases in the spot
market, and if possible, for larger volumes as the company has increased
capacity at its Bayovar terminal, Gutierrez said."Today, we can make these purchases of 800,000 barrels, which is the
tendency we want to maintain this year in order to obtain better crude prices
due to higher volumes," he said.In mid-February, Petroperu bought a maximum of 840,000 barrels of a
combination of two Iranian crudes for delivery in Bayovar in April. Gutierrez
said that the purchase was made through a trader of a company linked to
Spanish oil company Repsol YPF.Petroperu usually carries out 24 purchases of crude annually at an import
rate of 30,000 b/d. With larger-volume purchases, it is possible that number
could be cut in half, but the company will still want a diversity of
suppliers, Gutierrez said. "This [diversity] could be obtained in these
accords with Venezuela and Ecuador. These make it possible to reach a good
price, but spot purchases mean you will maintain a market presence," he said.--Mary Powers, newsdesk@platts.com
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Platts 26 02 07
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