Consortium expresses interest in renovating Esmeraldas refinery in Ecuador
Published by Nicholas Woodroof,
Editor
Hydrocarbon Engineering,
Last year, Ortiz announced the search for a private company to invest around US$2.4 billion in the refinery, owned by state oil company Petroecuador, to boost fuel output at the plant and help the cash-strapped South American country reduce imports of refined products.
The consortium plans to receive financing from Morgan Stanley. It has until February to present a final bid for the project, according to a timeline presented by the energy ministry. The government will make a final decision on awarding the contract in March.
The contract will then be signed in April. The deal is part of President Lenin Moreno’s efforts to boost private investment in Ecuador’s struggling economy. He is set to leave office in May after presidential elections next month.
The consortium also includes Texas-based companies RGFx Initiatives and Energlobal Investment Group.
Neither authorities nor representatives of the four companies who attended a press conference clarified how much the consortium was expected to invest, or the fees the consortium would receive for eventually delivering refined products to the state for domestic sale.
Read the article online at: https://www.hydrocarbonengineering.com/refining/06012021/consortium-expresses-interest-in-renovating-esmeraldas-refinery-in-ecuador/
You might also like
The Hydrocarbon Engineering Podcast - Education and training for every phase of the insulating system design process
In this episode of the Hydrocarbon Engineering Podcast, Brandon Stambaugh, Owens Corning Director for Technical Services, joins us to discuss engineers’ demand for education and training to support the critical phases that affect the performance and longevity of insulating systems.
Tune in to the Hydrocarbon Engineering Podcast on your favourite podcast app today.