China National Petroleum Corp, the country's biggest oil producer, is in talks with Ecuador's government over a potential investment in the OPEC member's $12.5 billion Pacifico refinery project, an Ecuadorian minister said.
Chinese oil companies have been buying overseas oil and gas assets to secure supply to the world's second-largest oil consumer and maximize returns on oil produced overseas.
The Pacifico refinery complex is a joint venture between state-run Petroecuador and Venezuela's state oil company PDVSA.
Agencies
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