HOUSTON, Oct 14 (Reuters) - Britain’s BP and France’s Total were awarded tenders launched this month by Canadian Pacific Rubiales Energy Corp for a 1-million-barrel cargo of Colombian Castilla crude and a 500,000-barrel cargo of Colombian Vasconia crude, traders close to the deals said on Monday.
BP will pay the equivalent of $11.10 to $11.20 per barrel under the price of ICE Brent to buy the Castilla crude cargo, while Total agreed to pay the equivalent of $5.50 per barrel under ICE Brent price for the Vasconia crude, the traders added.
Both cargoes will be loaded during November, after being sold by any combination of Pacific’s subsidiaries. Prices must ultimately refer to NYMEX WTI front month, according to the tender’s conditions seen by Reuters.
Pacific Rubiales, the largest private oil company in Colombia with an output of some 210,000 barrels per day (bpd), is offering four to six crude cargoes per month on the open market, while the Colombian state-run Ecopetrol frequently tenders crude cargoes also.