Pacific Rubiales tenders to sell Feb. Colombian Castilla crude cargo

Mon Jan 13, 2014 12:18pm EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

HOUSTON Jan 13 (Reuters) - Canadian oil firm Pacific Rubiales launched a tender to sell one 1 million barrel cargo of heavy Colombian Castilla crude, for delivery February 1 to 5 at Covenas port, according to an invitation seen by Reuters on Monday.

The largest private oil producer in Colombia, which had been offering 4 to 6 monthly cargoes of Colombian crude, is increasing its tender activity since it bought another Canadian firm based in the South American country in 2013, Petrominerales .

Bids must be indexed to WTI prices for February and sellers will include any combination of Pacific's subsidiaries: Meta Petroleum, Pacific Stratus Energy and C&C Barbados. Offers should be submitted by January 17.

Pacific Rubiales, which targets a 15 to 20 percent output increase this year, offered last week on the open market a 500,000 barrel cargo of medium Vasconia crude.