The Vietnam National Oil and Gas Group (Petrol Vietnam) and Conoco Phililips, the third largest integrated energy company in the US, have decided to purchase 7.5 million barrels of oil from the Petroleums of Ecuador State Enterprise (Petrol Ecuador).
The oil will be delivered to the customers in March, April and May this year.
Petrol Ecuador has also sold 1.1 million barrels of Napo crude oil to Noble Americas, another US energy corporation.
Last year, Ecuador produced nearly 500,000 barrels of oil a day, of which Petro Ecuador and Petroamazonas, its two largest state-owned oil companies, accounted for 60 percent of the volume.
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