Colombia’s Terpel inks US$52mn fuel deal
Colombian fuel retailer Terpel has signed a fuel supply agreement with the country’s national oil company Ecopetrol.
The contract’s estimated value is 200tn pesos (US$52mn) and it will run for one year starting on April 1, Terpel said in a regulatory filing.
The agreement is for domestic or imported extra motor gasoline, including local carbon-compensated extra gasoline.
At end-December, Terpel had 2,106 service stations in Colombia versus 2,076 a year earlier, and boasts a 45% leading share of this market segment.
The retailer’s service stations sold 461mn gallons in the fourth quarter of 2023, down 4% year-on-year.
Terpel also has operations in Ecuador, Panama, Peru and the Dominican Republic.
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