QUITO: A unit of Thai oil company PTT PCL won a tender for 1.08 million barrels of Ecuador's Oriente crude, state oil company Petroecuador said on Wednesday.

PTT International Trading's price offer of $0.07 per barrel below West Texas Intermediate crude prices was the best of five offers presented for Petroecuador's first spot sale of 2021, the company said in a statement, adding that the offer marked the most favorable differential for Oriente crude since August 2019.

The crude will be exported in three shipments of 360,000 barrels each throughout January 2021.