Ecuador and Venezuela have signed an agreement to build a large oil refinery. The Refinery of the Pacific will have a daily capacity of 300,000 barrels of crude oil. Ecuadorian President Rafael Correa called the partnership a further step towards regional integration.

Ecuadorian President Rafael Correa: “It is a palpable demonstration that we can negotiate like brothers, that we can trust, that we can advance together, that we can overcome this silliness of competition between nations, so we can advance together the cooperation between nations.”