CNPC in discussions with Ecuadorian government

China National Petroleum Corporation (CNPC) is eyeing Ecuador’s 300,000 barrels per day (bpd) Pacífico refinery project in Manabí province. According to international press reports, Ecuadorian Minister for Strategic Sectors Jorge Glas said discussions are ongoing between CNPC and the Ecuadorian government regarding a possible investment in the US$12.5 billion project. Refinería del Pacífico Eloy Alfaro (RDP), a joint venture between the state-owned oil company Petroecuador and Venezuela’s PDVSA for a plant that will produce gasoline, distillates, LPG and petrochemicals, is scheduled to be fully operational by July 2015. (July 20, 2012)