HOUSTON, April 1 (Reuters) - Venezuela’s state-run PDVSA launched a tender to buy 2-8 cargoes of heavy naphtha to be received from May to June at any of its ports, according to a document seen by Reuters on Tuesday.
Petroleos de Venezuela (PDVSA) has increased purchases and sales of refined products in recent weeks. This month it sold seven cargoes of ultra low-sulfur diesel (ULSD), jet fuel, light virgin naphtha and natural gasoline and it also offered to buy one cargo of catalytic naphtha.
The heavy naphtha is mostly used in Venezuela to mix with extra heavy crudes produced at the vast Orinoco belt. In November, PDVSA awarded three tenders to import 12 alkylate cargoes, 12-36 MTBE cargoes and 4-8 heavy naphtha cargoes to be received during 2014.
According to this tender terms, each cargo should contain 500,000 barrels of naphtha with maximum 500 parts per million sulfur. PDVSA has the option to extend the contract by a further two months.
Bidders have a deadline of April 8 to submit offers. They must be indexed to naphtha prices from the U.S. Gulf Coast. (Reporting by Marianna Parraga; Editing by Terry Wade)