Ecuador’s state oil company Petroecuador has signed a 15-year contract with fuel distributor Primax for the receipt, transport, storage and dispatch of petroleum products.
Petroecuador’s Esmeraldas, La Libertad and Tres Bocas oil docks will be used for the contract, along with associated terminals, pipelines and refineries. The contract forms part of the Ecuadorean government’s strategy, outline in Decree 95, to open up the Ecuadorean fuel market and allow the delivery of better-quality fuel. Fee collection will be carried out by Ecuador’s Agency for the Regulation and Control of Energy and Non-Renewable Natural Resources, according to the general manager of Petroecuador, Pablo Luna.
He added: “There is a different rate for the use of each infrastructure segment, which in turn allows Petroecuador to charge differently. Additionally, there is the option of the single rate of $0.027665 [€0.025] per gallon, which will be applicable as long as the distribution of the product is complied with in all the terminals that were considered for setting the rate.”
The signing ceremony was attended by Luna, Ecuador’s vice minister of hydrocarbons, María Cristina Cadena, technical coordinator of hydrocarbon regulation and control of the Agency for the Regulation and Control of Energy and Non-Renewable Natural Resources, Monica Ortiz, and the general manager of Primax, Karl Marx Castillo.
Petroecuador also has similar contracts in place with Corpetrolsa, Terp el- Comercial Ecuador CIA, Servicios WFSE Ecuador and Duragas.
For more information visit www.eppetroecuador.ec
