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Business News Americas: Petroecuador: Shell to submit Esmeraldas bid in coming days – Ecuador

(Business News Americas) – Anglo-Dutch oil major Shell (NYSE: RDS-B) will in coming days submit an economic bid to Ecuador’s state oil company Petroecuador to rehabilitate the Esmeraldas refinery, according to Petroecuador president Carlos Pareja Yannuzzelli.

Petroecuador has pegged at US$127mn the two-year rehabilitation of Esmeraldas, which has been operating at 30% capacity, BNamericas reported previously.

Shell already has submitted the technical offer, to which the state oil company has agreed. Contract signing could take place next week, Pareja said in a statement.

Petroecuador subsidiary Petroindustrial operates the 110,000b/d refinery. –

Published: May 17, 2007

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