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  • U.S. Gov't Agency Plans $2.84 Billion Loan for Oil Refinery—In Colombia (unexpected?)

    04/18/2011 3:02:12 PM PDT · by Bigtigermike · 15 replies
    CNS News ^ | Monday April 18, 2011
    (CNSNews.com) - The U.S. Export-Import Bank, an independent agency of the federal government, is now planning a $2.84-billion loan for a massive project to expand and upgrade an oil refinery--in Cartagena, Colombia. The money would go to Reficar, a wholly owned subsidiary of Ecopetrol, the Colombian national oil company. “This is part of a $5.18 billion refinery and upgrade project in Cartagena, Colombia supplying petroleum products to the domestic and export markets,” the Export-Import Bank said in a statement. The U.S. government-controlled bank says the $2.84-billion in financing it plans to undertake will be the second largest project it has...