February 7, 2014 / 4:38 PM / in 4 years

Pacific Rubiales and PDVSA offer crude and products, Petrobras buying ULSD

HOUSTON, Feb 7 (Reuters) - Venezuela’s state-run PDVSA is offering on the open market another 240,000 barrel cargo of ultra low-sulfur diesel (ULSD), after resuming sales of this product last month, and Pacific Rubiales is selling one 500,000 barrel cargo of Colombian Vasconia medium crude, tenders seen by Reuters say.

A subsidiary of Brazil’s state-owned Petrobras is also tendering to buy one 300,000-500,000 barrel cargo of ULSD, to be received on march 1-5 in a terminal owned by U.S. company Nustar Energy in the Caribbean island of Saint Eustatius. Offers should be submitted until February 10.

The company, which uses the Caribbean to store fuels, bought a similar cargo in December, in the middle of the shutdown of its fifth largest refinery, 189,000 bpd REPAR. The plant resumed operations on December 18 and a coker unit at 242,000 bpd REDUC refinery restarted on January after a fire.

Petrobras said in this tender that vessels can also unload in Sao Luis or Sao Sebastiao ports in Brazil.

For its part, Petroleos de Venezuela (PDVSA) detailed in the invitation that the ULSD being offered contains a maximum of 10 parts per million sulfur and it can be loaded at Puerto la Cruz refinery’s terminal on February 26-28.

The company, which this month has also incresed sales of fuel oil after problems at two of its refineries, will receive bids for this tender until February 11.

While some Latin American producers are selling and buying fuels, Canada’s Pacific Rubiales started offering Colombian crude for delivery in March with its typical 500,000 barrel cargo of Vasconia, which will be loaded at Covenas port on March 2-6.

The cargo will be sold by any combination of Pacific’s subsidiaries, including Meta Petroleum, Pacific Stratus Energy, C&C Barbados and Petrominerales. Bidders must submit offers indexed only to WTI NYMEX front month prices before February 12.

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