A total of 28.8 million barrels will arrive in Peru through eight monthly shipments.
For the first time, Ecuador’s state petroleum company, Petroecuador, will perform a direct sale of oil to its pair in Peru, Petroperú, of 28.8 million barrels.
The Ecuadorian company said in a statement, according to Chron, that the delivery will begin on May 22nd through eight monthly shipments of 360,000 barrels each.
The barrels will be taken directly to the refineries of Petroperú to be processed.
Petroecuador informed that the price will be set according to the current value of the West Texas Intermediate (WTI).
As an additional benefit for Ecuador, Peru must hire the necessary vessels from them to transport the product into Inca lands.