In Ecuador, the country's largest refinery has been opened in the costal district of Esmeralda.?
In Ecuador, the country's largest refinery has been opened in the costal district of Esmeralda. It will produce more than 55,000 barrels of crude oil per day.
SYNOPSIS: The State Refinery of Esmeraldas, as it will be known, is only a few kilometres from the Pacific coast. Nearly a quarter of the complex is taken up by a village for its employees. Built at a cost of more than 150 million dollars the refinery took about five years to complete. The building contract was won by a Japanese consortium Sumitomo-Chiyoda. A number of local firms also helped to build it. Ecuador is ranked fourth among oil-producing countries in Latin America.
The refinery is one of the largest investment projects ever undertaken by Ecuador, whose oil exports in 1977 were worth around 155 million dollars.
The inauguration ceremony was attended, among others, by Ecuador's Minister of Natural Resources, General Eduardo Semblantes. He said the refinery would play a vital role in improving the country's economy, already transformed by the oil boom.
And according to Senior Luis Cevallos, director general of the state oil company, CEPE, it will change Ecuador's image from an agriculture exporter to that of a major oil-exporting nation.