Gunvor, Citizens Energy awarded tender to provide naphtha to PDVSA

jueves 12 de febrero de 2015 17:09 GYT

* Naphtha purchases will be transitory, according to sources

* Venezuela's PDVSA looks for new crude sources to use as diluent

By Marianna Parraga

HOUSTON, Feb 12 (Reuters) - Oil firms Gunvor from Russia and Citizens Energy Corporation from the United States were awarded with a tender to supply Venezuela's state-run PDVSA with 3 million barrels of heavy naphtha for delivery from February to July, traders told Reuters on Thursday.

PDVSA had launched a tender last month to buy six 500,000-barrel cargoes of heavy naphtha with an option to receive six extra cargoes during 2015.

With the purchase, PDVSA resumed naphtha imports after seven months of inactivity and a failed deal with Algeria's Sonatrach to substitute the refined product with light crude as a diluent to make Venezuela's extra heavy oil an exportable product.

PDVSA and the tender's winners agreed to a price around 8 cents per gallon over naphtha from the U.S. Gulf Coast, one of the traders added.

NAPHTHA ON THE ROAD   Continuación...