Ecuador and Venezuela in oil pact

Countries agree to build biggest refinery in South America's Pacific coast.

    Chavez, right, and Correa say the plant
    will boost regional energy security [AFP]

    Correa said that the joint $6.6 billion project by state-run oil firms from both countries will save Ecuador $3 billion in oil imports a year.

    Venezuela and Ecuador are the only Latin American members of the Organisation of the Petroleum Exporting Countries.

    Future plans

    Chavez said he plans to build other refineries in Brazil and Nicaragua.

    "Everything ended up in the United States; that's what the empire and colonialism are all about," Chavez said.

    Chavez said his goal was to provide "energy security for all the people in the (South American) continent."

    He also proposed building a joint steel plant in Ecuador and help it improve its telephone service.

    Correa said Chavez's plans were not motivated by "interest" or a desire to interfere in his neighbours' affairs, but by a feeling of solidarity and his belief in the "Latin American Union".

    SOURCE: Al Jazeera and agencies


    YOU MIGHT ALSO LIKE

    Interactive: How does your country vote at the UN?

    Interactive: How does your country vote at the UN?

    Explore how your country voted on global issues since 1946, as the world gears up for the 74th UN General Assembly.

    'We were forced out by the government soldiers'

    'We were forced out by the government soldiers'

    We dialled more than 35,000 random phone numbers to paint an accurate picture of displacement across South Sudan.

    Interactive: Plundering Cambodia's forests

    Interactive: Plundering Cambodia's forests

    Meet the man on a mission to take down Cambodia's timber tycoons and expose a rampant illegal cross-border trade.