10 July 2017

Peruvian state-owned oil company PetroPeru has begun issuing import tenders for refined petroleum products using price assessments from global commodity price reporting and news agency Argus.

PetroPeru — which supplies more than half of Peru’s 250,000 b/d refined products market — has issued a request for proposals to supply four cargoes of ultra-low sulphur diesel (ULSD) priced on the Argus Colonial pipeline ULSD index, for delivery in August. A separate tender was issued on 6 July for two combined cargoes of naphtha and gasoline blendstock indexed to Argus Colonial pipeline conventional gasoline for August-September delivery.

Argus Media chairman and chief executive Adrian Binks said: “We are delighted that PetroPeru has expressed its confidence in Argus’ refined product indexes. This continues a trend that has seen Latin American countries increasingly turn to Argus pricing in recent years.”

Argus is the world’s largest independent price reporting agency, producing price assessments that are used extensively by governments as independent references for taxation and other purposes. Energy producers and consumers use Argus assessments as price references for long-term supply contracts, mark-to-market accounting of commodity portfolios, managing counterparty exposure, derivatives contracts and for use in a wide range of investment and market analysis.