MIRA INFORM REPORT
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Report Date : |
15.10.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
EQUIPO PETROLERO S.A. EQUIPETROL |
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Registered Office : |
Carretera Antigua a Cochabamba (doble Vía La
Guardia) Km.8, Santa Cruz |
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Country : |
Bolivia |
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Date of Incorporation : |
06.07.1997 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Import and commercialization of equipment for
the oil industry |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Bolivia |
b1 |
b1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Registered
Name
EQUIPO PETROLERO S.A.
"EQUIPETROL"
N.I.T.: 1015407022
Summary
INCORPORATED IN 1977.
FOLLOWER OF ACTIVITIES. ITS REPRESENTATIVES DENIED TO SUPPLY ACCOUNTING
INFORMATION. NO NEGATIVE. FIT FOR CREDITS ACCORDING TO ITS OWN RESOURCES.
Line
of Business
EQUIPMENT FOR THE OIL
INDUSTRY
IMPORT
COMMERCIALIZATION
Legal
Structure
Business type: Public Limited Company
Incorporation date: 06/07/1997
Where registered: Santa
Cruz City
Duration: Unlimited
End of fiscal year: 30/04
Contact
Accountant: Liz Medina
Operative and Administrative Address: Carretera
Antigua a Cochabamba (doble Vía La
Guardia) Km.8, Santa Cruz, Bolivia.
Phone.: (591-3) 371-1500
E-mail: l.medina@equipetrol.com
E-mail: jmuñoz@equipetrol.com
Website: www.equipetrol.com
Commercial Office in La Paz
City, Bolivia.
Board
of Directors
General Manager SANTISTEVAN EDUARDO ALBA
The mentioned one, as Manager,
is in charge of the management and administration of the company, with the use
of the social signature.
History
This
is the first bolivian company engaged in the supply of oil equipments for the
oil prospecting and explotation of oilfields. It was incorporated in 1958,
being a leader company in services, sale and oil engineering. It participated
in all areas of the bolivian oil industry as well as in countries like
Argentina, Paraguay and Peru.
At
the end of the 60’s, it was incorporated the company BOLIFOR between the holder
and the french company Languedocienne Forenco. This new company offered
services of drilling of oil wells to the hydrocarbon sector.
In
the 80’s, Equipetrol was the owner of the total Bolifor’s shares, being the
first contractor bolivian company for drilling. In 1996, Bolifor was sold to
Parker Drilling Co.
At
the beginning of the 90’s, the holder was the leader national company in oil
representations and services. It developed special services of “Slick Line”.
Later on, it was the first bolivian company specialized in services to finish
the oil wells.
In
the middle of the 90’s, Equipetrol and other bolivian partners, were the
leaders in the construction of the cryogenic plant in Carrasco, to process 70
mmpcd of gases which came from the YPFB fields located at Carrasco and Bulo
Bulo. After the capitalization of YPFB, this plant was sold to Chaco S.A.
In
July 1997, Equipetrol was bought by a group of present directives of the
company and it was changed to a Public Limited Company.
In
the same year, San Onofre (company incorporated in 1965) was member of the
Equipetrol Group. San Onofre was a pioneer company in the sector of industrial
minerals and in the manufacture of materials for drilling muds. Since it was
incorporated, it continuously supplied bentonite and other materials to the
main oil companies which operate in Bolivia. It also supplied these materials
to oil companies in Argentina, Chile and Brasil.
During
this period, Equipetrol increased the amount of employees from 50 to 82 and it
opened new offices in the 8 ½ kilometer of the Doble via a la Guardia.
In
2000, the holder acquired the stockholding of Matpetrol S.A. (company
incorporated in 1958) and entered to the upstream sector of the industry. In
this way, it became to be in an independent operator company of fields, that
is, a company for explotation and production.
The
holder was an active part in the bolivian oil industry. In this way, it began
with a new venture: La Refineria Oro Negro S.A., whose main activity is the
refining of crude and condensed oil to produce diesel oil, gasoline and GLP.
In
2004, Equipetrol planned international projects to be developed in Argentina,
Argelia, Paraguay and Peru.
Since
2007, Equipetrol initiated important operations in the peruan forest and in sea
oil rig at the north of Peru, supplying services to the most important
companies in that country. At present, Equipo Petrolero del Peru SAC has more
than 30 employees, offices in Lima and operative offices in Talara and el
Callao.
In
the middle of 2010, it began the operations in Colombia, with offices in
Bogota. This branch has General Manager, Service Supervisor and support staff.
In
2011, this company became the most important oil company in Bolivia.
It
is said that it is related to the following companies:
*
SAN ONOFRE S.R.L.
*
METPETROL S.A.
*
EQUIPO PETROLERO DEL PERU S.A.C.
*
ORO NEGRO S.A.
* EQUIPO PETROLERO ECUADOR
S.A.
Finances
We have
contacted to the accountant Liz Medina, who said that, due to the company’s policy,
accounting information is provided to the suppliers.
Because of
that we had to resort to other sources, but no one could give certain
information about it.
Anyway, it is considered as
a company with a reasonable importance in its sector who has a good
development.
Fixed
Assets
PROPERTIES:
The operative and
administrative office is owned by the holder, which has a good realization
value.
No title deeds were shown
as to verify if its property is unencumbered.
VEHICLES:
It has a vehicles fleet,
about which no more details are known.
Commercial
references
CAMERON ARGENTINA S.A.
Antartida Argentina Av. 2711, Buenos Aires City.
Client since several years
ago.
Financed current account
without difficulties.
Sales: Installments of 60/90/120
days
Good concept and
fulfillment.
Activity
This company is engaged in
the commercialization of equipments for the oil industry. It also supply the
following services:
Renovation of oil wells
Recovery of pipes of
deserted oil wells
Oil repair shop for threads
Eye inspection
Refill of bars to protect
the abrasives
Detection of gas during the
borehole
It has an important
infrastructure and a good organization where its representatives work together
with the necessary staff.
It carries out imports from
United States, Argentina, Venezuela and Brasil among onter countries.
It exports to Peru,
Colombia and Ecuador.
HABITUAL SUPPLIERS:
TD WILLIAMSON (United
States)
GYRODATA (United States.)
VALLOUREC Y MANNESMAN TUBES
(Brasil)
ARTEX S.A. (Bolivia)
CAMERON ARGENTINA S.A.
(Argentina)
* 250 EMPLOYEES
Banks
BANCO MERCANITL SANTA CRUZ Headquarters
BANCO BISA
Branch: Santa Cruz
Insurances
BISA SEGUROS S.A.
Payment Record
It is commercially related
with local and foreign companies. Many of them give it their credit support,
not making up to now objections about its payment behaviour.
* FULFILLMENT: WITHOUT OBJECTIONS
Final
Opinion
We consider feasible the
credit treatment with this company by amounts in accordance with its own
resources.
·
FIT FOR CURRENT CREDITS
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.07 |
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UK Pound |
1 |
Rs.77.42 |
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Euro |
1 |
Rs.67.72 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.