Ecuador state-run oil company Petroecuador said that ConocoPhillips (US) and Petrovietnam (Vietnam) had won a right to purchase a total of 7.5 million barrels of crude oil from Ecuador.
According to Reuters, Petro Ecuador announced this news on Friday February 17th, and the crude oil product for sale was Oriente.
ConocoPhillips will buy about 5 million barrels, while Petrovietnam will buy 2.5 million barrels, Petroecuador said in a statement.
The crudes will be delivered to the companies in March, April and May this year, Petro Ecuador added.
Beside that, Ecuador will also sell another 1.1 million barrels of Napo crude oil for Noble Americas.
Oriente and Napo are two types of crude oil produced in Ecuador. The central bank of this country recently said the average price that buyers paid for two types of crude oil rose by 35% to USD 97.6 a barrel in 2011.
There are different types of crude oil in the world market. The WTI crude oil in the US future market on February 20th, morning, was trading at USD 105 a brrel, white Brent crude oil was at over USD 121 a barrel.
Last year, crude oil output of Ecuador reached 500,000 barrel a day, while output of state-run Petroecuador and Petroamazonas companies accounted for over 60 percent.
Source: Xangdau.net
