Colombia's Terpel inks US$150mn fuel supply deal
Colombian fuel retailer Terpel said Wednesday it signed a 617bn-peso (US$150mn) supply contract with Cenit, the midstream unit of state-run oil company Ecopetrol.
The contract will be valid for a year, starting in September, Terpel said in a filing with Colombia's securities regulator.
It added that fuel products would be transported by polyduct under the firm capacity modality.
Payment will be made via an existing credit facility, pending an internal analysis of the company's financial capacity, Terpel said.
Terpel has more than 2,000 service stations throughout Colombia and supplies around 42% of the domestic fuels market.
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