Source: https://www.eppetroecuador.ec/?p=14137
On May 31, EP Petroecuador signed the amending contract No. 2020033 for the supply of liquid fuels derived from hydrocarbons for the international shipping segment. The contract was signed between the General Manager of the state oil company, Ítalo Cedeño, and the representatives of the companies AGNAMAR Cía. Ltda., OCEANBAT S.A., MARZAM Cía Ltda. AND CORPETROLSA S.A.
According to the document, Fuel Oil shipments will be made at each terminal or refinery, according to the schedule provided by the marketer and according to product availability at each storage center.
In addition, the availability of Fuel Oil for the International Shipping segment will be subject to the supply of the electrical and industrial sectors, to the normal operation of the La Libertad and Esmeraldas refineries, and to the long-term export commitments acquired from the Esmeraldas Refinery.
Shipments from the La Libertad Refinery and Terminal will be approximately 400,000 barrels per month depending on availability. This minimum established volume may be increased as stipulated in the modifying contract.
Regarding the sale price of petroleum derivatives that EP Petroecuador will charge, at the level of terminals and refineries, it will be determined in accordance with current legislation and regulations, these conditions being the same for all marketers that serve the international shipping segment.
The General Manager of EP Petroecuador, Ítalo Cedeño, indicated that it is a project that has been promoted for a few months, since it is very important for the country. “Currently we cannot process all the hydrocarbons in the Esmeraldas Refinery, we have residues such as Fuel Oil and we have to manage it optimally for the refinery to work well, since storage capacity is limited. This addendum to the original agreement is very important, so that there is an agreed price and volume and a procedure that allows them to be more efficient in their operations”, he said.
“You buy fuel oil from us for industries, ships that are in transit, among other clients; but we do not want you to compete with the export of Fuel Oil, because for this segment we have competitions, your market is different, but if you sell to those who won the competition, we are affected”, he pointed out.
He added that in the future, this hydrocarbon will be processed in a high-conversion refinery and more products will be obtained according to specifications; Fuel Oil will be minimal or non-existent.
Ramón Espinel, General Manager of AGNAMAR Cía. Ltda., participated on behalf of the shipping companies. He recalled that Ecuador is the main supplier of high sulfur fuel oil in the region and that this business means between USD 450 and 480 million a year.
“We are the main source of work for merchant mariners, we create an added value of between 8 and 12% on the purchase price from EP Petroecuador, which serves to underpin dollarization and 30% of this value returns to the State, via rates, taxes and other payments,” he said.
He described this signing as historic, since he mentioned that “for seven years, this industry has lost stability. Today and with the help of EP Petroecuador, and the openness of Ing. Ítalo Cedeño and his team, we will be able to work in a better way, we are extremely grateful”.
The event was attended by the General Manager of EP Petroecuador, Ítalo Cedeño; the Technical Coordinator for Hydrocarbon Regulation and Control; Mariela Arias; the National Marketing Manager, Stalin Salgado; the Marketing and Customer Service Representative, Francisco Jácome; the International Trade Manager, Pablo Noboa; the Corporate Head of Programming and Operational Coordination, Rafael Armendáriz, the company's Attorney, Jaime Pinos; in addition to the technical equipment of him.
In the private sphere, the General Manager AGNAMAR Cía. Ltd.; Ramon Espinel; the General Manager of OCEANBAT S.A., Leonardo Salame; the General Manager MARZAM Cía Ltda., Bartolomé Saldarriaga; the General Manager of CORPETROLSA S.A., Jairo Molina, as well as legal representatives.