China National Petroleum Corp (CNPC), the nation’s largest oil and gas producer, will take a 30 percents take in a refinery project in Ecuador, China Daily reported Thursday, citing a top Ecuador official. CNPC will invest more than US$10 billion to help finance the Pacificooil refinery project in Ecuador, the South American nation’s vice-president, Jorge Glas, was quoted as saying at an economic forum in Beijing Wednesday. Construction of the project’s first phase has already been completed, he said. A cooperation contract will be signed later this year, Glas is said to have remarked after a visit to CNPC headquarters on Tuesday.
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