Qatar would fund a new oil refinery

Rafael Correa and the Emir of Qatar Hamad Bin Khalifa Al-Thani

The Ecuadorian government approached Qatar, Arab country, to finance the construction of an oil refinery: the Pacific Refinery, which has an estimated value of $ 12,800 million. The announcement was made by the president, Rafael Correa, on Sunday, during an interview with the media after his re-election.

According to the report of the Foreign Ministry, the Ministry of Strategic Sectors and Qatar Petroleum they would “develop initiatives in the legal, technical, financial and commercial areas to develop a feasibility study for the proposed investment in the Pacific Refinery”.

Last Saturday, Qatar and Ecuador signed several agreements on trade, technology, financial, sports, tourism, mining, energy and information exchange.