CNPC to help
finance US$ 12 billion Ecuadorean oil project
China National Petroleum
Corp agreed to take participate in financing of a US$ 12 billion refinery
project in Ecuador.
 |
| David Nealis President of Ceres Ltd. |
The estimated 300,000 barrel per day Pacifico
project is a JV between Ecuador and Venezuela’s PDVSA, it is scheduled to start
operations in 2017. Ecuador’s Vice-President Jorge Glas said that CNPC is the
project’s third partner. In 2012, CNPC requested the Industrial and Commercial
Bank of China to provide funds for CNPC’s possible investment in Pacifico.
China, the world’s 2nd largest
economy, continues to be the most important market for companies looking
for growth and Chinese companies continue to globalize by investing and selling
their products in new markets; what is your company’s strategy for
engaging China?
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Trading futures and options involves the risk of loss. You should consider carefully whether futures or options are appropriate to your financial situation. You must review the customer account agreement and risk disclosure prior to establishing an account. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of futures results. The risk of loss in trading futures or options can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.
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