The people of Ecuador are rising up to refound their country as a pluri-national homeland for all. This inspiring movement, with Ecuador's indigenous peoples at its heart, is part of the revolution spreading across the Americas, laying the groundwork for a new, fairer, world. Ecuador Rising aims to bring news and analysis of events unfolding in Ecuador to english speakers.

Wednesday, July 25, 2007

Ecuador, Venezuela: Joint Oil Refinery Venture

July 19, 2007, Stratfor
Venezuelan state-run oil company Petroleos de Venezuela and Ecuador are planning a joint venture to build a $5 billion oil refinery as one of the first projects funded by the Bank of the South, Ecuadorian interim Energy Minister Jorge Alban said July 18. Alban added that Ecuadorian President Rafael Correa is waiting for feedback from Ecuador's Solicitor Office in order to define a legal framework for the partnership before beginning the project, which is expected to take five to six years to complete, including a year of assessments.

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