HOUSTON, April 7 (Reuters) - Argentina’s private oil firm Tecpetrol and a unit of Chile’s state-run ENAP launched a tender to sell a 450,000 barrel cargo of medium Escalante crude, for delivery May 17-25 at Caleta Cordova terminal, according to a document seen by Reuters on Monday.
Tecpetrol and ENAP’s unit in Argentina, ENAP Sipetrol, extract crude from the fields El Tordillo and Pampa del Castillo-La Guitarra, at the Argentine province of Chubut.
The invitation says that bids will be received until April 9 and they must be indexed to ICE Brent front month prices. Sellers will also include Dapetrol, a Tecpetrol’s subsidiary, and payment should be made in dollars, five days after delivery of bill of lading.
Argentina is the largest South American gas producer and it also produces some 720,000 barrels per day (bpd) of crude. Its domestic market consumes 700,000 bpd or fuels, so the country exports crude, but also imports finished products such as diesel for its thermoelectrical plants. (Reporting by Marianna Parraga; Editing by Terry Wade)