The Ecuadorian minister of Energy and Mines; Ivan Rodriguez, informed that Venezuela, Canada and China are interested on financing the construction of a refinery in this Andean country.
Several governments showed their interest by means of executive agreements, the minister told the national media.
He also said that Ecuador is an oil exporter but lacks the capacity to refine fuels, therefore there is a need for developing a processing industry.
Esmeraldas refinery, Ecuadorīs most important, barely processes 110 barrels a day which does not meet the whole national demand, the minister continued. Besides itīs undergoing partial maintenance work.
Rodriguez reiterated that investments are needed in the fields of hydroelectric and oil, therefore a strategic alliance is not ruled out with some of the afore mentioned nations, he remarked.
The minister underscored he will focus on two main tasks: to get investment for Esmeraldas refinery and other projects for the production oil derivates and gas processing, and also to speed up the creation of small hydroelectric plants.
Oil is Ecuadorīs main traditional export and its largest financial income.
National and private production tops 529 barrels a day, from which 67,21 percent (355,541 barrels) are for export.
Of the total oil turnout, 37.80 percent or 199,962 barrels belong to the state enterprise Petroecuador and the rest to private companies.
By: Prensa-Latina
