Moin refinery in Costa Rica to be expanded
Recope, in alliance with a Chinese oil company, will create a new private company that will modernize and expand the Moin refinery in Limon.
Friday, January 23, 2009
Nacion.com reports: "In this case, the document - dated October 28, 2008 - authorizes the Costa Rican Petroleum Refinery (Recope) to negotiate and sign an agreement to create "a joint company" with the China National Petroleum Corporation International LTD, a subsidiary of China National Petroleum Corporation.
Costa Rica is awaiting the release of a report on the expected profitability of the proposed new Moin refinery, which needs to be 16% or more, in order to gain the support of China's state oil company.
Australians have begun the process of developing the basic engineering for RECOPE and the CNPC’s new refinery, designed to process 60,000 barrels per day.
The Costa Rican state-owned oil refinery (Recope) invites bids to analyze the feasibility of expanding the Moín refinery.
Soresco (a joint venture between Costa Rica’s Recope and China’s CNPC) will hire a company to develop the refinery’s feasibility studies.
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