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UPDATE 1-Ecuador awards 20.2 mln barrel oil supply contract to Shell unit

Fri, 06th Dec 2019 18:53

(Adds details, context)

QUITO, Dec 6 (Reuters) - Ecuador's state-run oil company
Petroecuador said on Friday it had awarded a unit of Royal Dutch
Shell a contract to lift some 20.2 million barrels of
Oriente-grade crude between 2020 and 2023.

Shell Western Supply and Trading beat out the other two
bidders, Trafigura and Mitsubishi, by
offering to pay a premium of 71 cents per barrel above the
reference price for West Texas Intermediate crude. [nL1N28D191

Petroecuador expects the deal to bring in some $950 million.
The Andean country produces some 545,000 barrels per day of
crude.
(Reporting by Alexandra Valencia
Writing by Luc Cohen)

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