It is reported that Russia largest oil company Rosneft may participate in development of oil and gas condensate deposits and oil refinery projects in Ecuador.

That follows talks between Mr Eduard Khudainatov president of Rosneft and an Ecuadorian delegation including Ecuador Strategic Resources Minister Mr Jorge Glas and Ecuadorian Ambassador to Russia Mr Patricio Chavez.

The company said "During the talks, both parties discussed the opportunities for mutual cooperation and implementation of joint oil and gas projects in Ecuador. In particular, the parties discussed Rosneft possible participation in the development of oil and gas condensate deposits and oil refinery projects."

(Sourced from RIA Novosti)