Govts. sign energy cooperation MOU
Bnamericas Published: Wednesday, August 25, 2004
The respective governments of Ecuador and Brazil signed a memorandum of understanding (MOU) Wednesday for cooperation in the energy sector. The MOU includes cooperation between respective state oil companies Petroecuador and Petrobras in the areas of production, refinery, transport and commercialization of oil and natural gas products, the restructuring of Petroecuador, developing a goods and service supply industry for Petroecuador and support in the creation of an Ecuadorian oil institute. Power sector activities include a diagnosis of Ecuador's electricity sector by both countries' mines and energy ministries, support in restructuring Ecuador's electricity regulator and support in Ecuador's project development. "Sustainable economic and social development depends on a dependable supply of energy," Ecuador's government news service quoted the document as saying.
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