UPDATE 1-Colombia and Argentina to sell crudes, Peru awards import contracts -traders

Fri Oct 4, 2013 4:45pm EDT
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* Pacific Rubiales and Sinochem to deliver at least 5 Colombian crudes cargoes

* Pluspetrol, Pan American, Petroecuador selling Loreto, Escalante and Oriente crudes

* Petroperu, PDVSA, Recope and Refidomsa buying fuels

By Marianna Parraga

HOUSTON, Oct 4 (Reuters) - Pacific Rubiales' and Sinochem's units in Colombia are offering at least five crude cargoes for delivery from October to November, while Argentina's Pan American Energy and Pluspetrol launched tenders to sell two cargoes of Escalante and Loreto crudes, according to documents seen by Reuters.

The Latin American petroleum companies usually launch their tenders for selling crude between the last days of one month and the first days of the next one, in order to deliver the cargoes 4-8 weeks later, traders said.

The Colombian Vasconia and Castilla crudes will be loaded from Oct. 23 to Nov. 25, while the Peruvian Loreto and the Argentinian Escalante should be picked up starting on Nov. 10.

Crude production in Colombia has increased slowly during this year, while Argentina and Peru are offering limited volumes of crude on the open market, while importing finished fuels, mainly diesel, to satisfy their domestic consumption.

Small crude producers in Colombia frequently sell their barrels to state-run Ecopetrol, but big players in the oil industry such as Pacific Rubiales - which controls one fifth of the Andean country's total crude output - sell most of their oil via tenders.   Continued...