Venezuela PDVSA offers ULSD, virgin naphtha and natural gasoline
HOUSTON, March 27 (Reuters) - Venezuela's state-run PDVSA launched two tenders to sell oil products, the first one offering two 240,000 barrel cargoes of ultra low-sulfur diesel (ULSD) and the second to export a 250,000 barrel cargo combining light virgin naphtha and natural gasoline, according to documents seen by Reuters on Thursday.
Petroleos de Venezuela (PDVSA) has ramped up tenders since February to sell products on the open market, amid higher cash flow needs and decreasing domestic demand during ongoing protests against the government of President Nicolas Maduro.
In January, the company resumed exports of ULSD produced by the 187,000 barrel per day (bpd) Puerto la Cruz refinery, after years dedicating all the output of its fuel to domestic thermoelectric generation.
The ULSD tender says that the product must be loaded April 11-12 at Puerto la Cruz with destination to the U.S. Gulf Coast or East Coast, the Caribbean, Canada, Northwest Europe, the Mediterranean or West Africa.
Prices have to be indexed to ULSD from the U.S. Gulf Coast, New York Harbor or the Mediterranean.
The combined cargo must be loaded on April 15-18. 90,000 barrels of light virgin naphtha will be delivered at Puerto la Cruz refinery and 160,000 barrels of natural gasoline must be loaded at Jose port.
Destinations for this cargo must include U.S. Gulf Coast or East Coast, the Caribbean, Canada or Europe and prices have to be indexed to natural gasoline from Mont Belvieu.
PDVSA said it will receive offers until April 1. Payments must be made in euros, eight days after delivery of bill of lading. (Reporting by Marianna Parraga; editing by)
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