Pemex, Petroecuador to Discuss Joint E&P, Refining Projects

Mexico's state oil company Pemex and its Ecuadorian equivalent Petroecuador will start talks soon regarding cooperation agreements in oil and gas exploration, production and refining activities, a presidential house spokesperson told BNamericas.

Petroecuador could supply hydrocarbons for the Mesoamerican energy integration project, which could include a refinery in Central America, and other Mexican energy sector projects, the spokesperson said.

The Mexican and Ecuadorian presidents, Vicente Fox and Alfredo Palacio respectively, signed various agreements on Monday during Palacio's visit to Mexico, including one related to bilateral cooperation in the energy sector.

Petroecuador is interested in joint venture with Pemex to add value to its crude oil production. The exchange of information and cooperation between the two companies is expected to increase in coming months.

Ecuadorian and Mexican energy sector authorities will also hold top level talks based on a memorandum of understanding for energy cooperation signed by the two countries in November 2004, the spokesperson said.

The schedule for the Mexico-Ecuador energy sector talks is not yet available.

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