State run oil companies of Ecuador and Venezuela will commence construction on Refineria del Pacifico-CEM- a new 300,000 bpd refinery and petrochemical complex in Manabi, very shortly. Petroecuador will hold 51% stake in the project and Petroleos de Venezuela will hold the balance stake. The project, to be built at an investment outlay of US$5 bln will be built in about 3-4 years.
19-Jun-08 
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