Emilio Palacio alleges corruption in bidding process for asphalt during closure of refinery in Ecuador

Posted on October 3, 2014 • Filed under: Corruption, Ecuador, Oil

EmilioPalacio.com reported CLOSING THE REFINERY ESMERALDAS WILL COST A FORTUNE TO ECUADOR. What the country does not know is that this should be not only for technical reasons but also to corruption. As shown, this “small” button: A recent acquisition of 225,000 barrels (or 37,500 tons) of asphalt Petroecuador will entail a premium of approximately 4.5 million. “If there had been more offers, probably would have bordered the $ 700 per tonne,” he assured me a source of business of petroleum products in the United States, who requested reservation because it has occasionally made ​​negotiations with Petroecuador. The state would have saved only in that area about 4 million.
Asphalt precisely meet the demand for the closure of the refinery, between October and November.
The tender, whose requirements were announced on 31 July, attracted only one bidder, Global Logistics and Trading Asphalts (Galt), a Swiss company, owned by American investors. Read Article

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