* Ecuador’s President
Lenín Moreno has signed a presidential decree (no.861) along with
Carlos Pérez García, minister of energy and non-renewable natural resources, authorising the use of private capital for the design, construction, and operation of a new oil refinery. The high-conversion refinery will be constructed in Ecuador’s coastal region (with the exact location yet to be confirmed). It will not include any participation by the Ecuadorean government or state-run companies. The government expects the refinery to require US$6bn in investment over the next 15 years and to process at least 100,000 barrels of oil per day.
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