November 7, 2013 / 3:08 PM / in 4 years

Pacific Rubiales tenders to sell Dec. Colombian Castilla cargo of 1 mln bbl

HOUSTON, Nov 7 (Reuters) - The Canadian oil company Pacific Rubiales launched an offer to sell one 1 million barrel cargo of Colombian Castilla crude for delivery on December 27-31, according to a tender document seen by Reuters on Thursday.

The company, which said this week that it will sign an LNG contract with Russian Gazprom, is offering four-six monthly cargoes of Colombian crudes on the open market and it will increase its tender activity in the coming months, after taking Petrominerales’ assets, another Canada-based oil firm working in Colombia.

This is the third Castilla tender launched by the firm for December loading. Sellers will include any combination of Pacific’s subsidiaries in Colombia: Meta Petroleum, C&C Energy Barbados and Pacific Stratus Energy.

The bids, indexed to the NYMEX WTI front month prices, should be submitted until November 14.

Colombia is increasing crude exports to the United States, even in the middle of a booming local production in the North, because of the quality of its medium and heavy crudes, which can be used to feed a wide number of refineries.

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