Ecuador and Venezuela signed energy agreements
Posted: 2008/01/09
From: Mathaba
Quito, Jan 8 (ABN).- The governments of Ecuador and Venezuela signed this Monday two agreements. One of them to carry out natural gas exploration studies at the Block 4 of Guayaquil Gulf and the other one to constitute a mixed company to build a new refinery in Ecuador, as it was informed by El Universo newspaper of Ecuador.
The signing of these documents took place after the meeting held between the President of Ecuador, Rafael Correa, and the Minister of the People's Power for Energy and Petroleum of Venezuela, Rafael Ramírez.
At this meeting, the progress in oil agreements already signed between both nations since 2007 was evaluated, like the one allowing to exchange Ecuadorian oil for Venezuelan fuel.
According to the Government of Ecuador, the agreement has been positive, because the Ecuador has saved about 38 million dollars.
Moreover, the Minister of Mining and Petroleum of Ecuador, Galo Chiriboga, announced that this agreement will be expanded to products like the asphalt and fuel oil.
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