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Equatorial Guinea Is Looking to Build a Refinery With Venezuela

  • $2 billion refining complex could be operated by PDVSA
  • Project is due to be announced in January: energy minister
A PDVSA refinery in Caracas, Venezuela

Photographer: Diego Giudice/Bloomberg

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Equatorial Guinea, OPEC’s newest member, is looking to build a $2 billion oil-refining complex that may be operated by Venezuela’s state-run crude producer PDVSA.

The refining complex in Equatorial Guinea is expected be announced in January and take two years to be completed, Gabriel Obiang, Equatorial Guinea’s Minister of Mines, Industry and Energy, said in an interview while attending a natural gas-exporting summit in Bolivia Friday.