Agreement for chinese refinery vetoed in Costa Rica

The Costa Rican Comptroller vetoed an agreement that would have allowed the construction of a $1 billion petroleum refinery.

Monday, March 30, 2009

The accord that was signed in 2008 between the state-owned companies, Costa Rican Petroleum Refinery (RECOPE) and the Chinese National Petroleum Corporation (CNPC) and authorized by president Oscar Arias, would have allowed the construction of a $1 billion, 12,000 barrel refinery in the Costa Rican Caribbean .

According to the report by AFP published in mipunto.com, the Costa Rican Comptroller challenged the agreement, arguing that RECOPE does not have the authority to cede "the fuel importing, refining and distributing monopoly that it has in the country" to the new company.



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Costa Rica Tenders New Refinery

July 2013

The Chinchilla administration is insisting on building a refinery, this time using the method of an international tender.

The new concept aims to "dilute the Chinese accent from the controversial project ", after the Comptroller General of the Republic (CGR) slowed down the project upon discovering that there were conflicts of interest in the feasibility report for the refinery.

Controversial Refinery Project in Costa Rica Stopped

June 2013

The feasibility study for the project was undertaken by a subsidiary of the Chinese company which is a partner in the project, a situation that is prohibited under the contract with the Costa Rican state refiner.

The Comptroller General of the Republic of Costa Rica also found "weaknesses in the feasibility study," and ordered the Board of the Costa Rican Oil Refinery Company (Recope) to refrain from using the feasibility study conducted by the Chinese company HQCEC "and any others that rely on this", which in practice means stopping the project of building a refinery at a cost of about $1.5 billion.

Chinese Refinery in Costa Rica: Round Two

July 2009

The Government will request, again, the approval of the agreement for the construction of a $1 billion refinery with China.

The Costa Rican oil refinery, known by its Spanish acronym Recope, will request, for a second time, the approval of the General Comptroller of the Republic for the construction of a 12,000 barrels refinery in the Costa Rican Caribbean, together with the China National Petroleum Corporation (CNPC).

Insistence in Chinese Refinery in Costa Rica

April 2009

The Government of Costa Rica will insist on approval of the agreement for the construction of a $1 billion refinery.

The Executive Branch announced that it will insist upon the Comptroller General of the Republic to approve the contract between the Costa Rican Petroleum Refinery (RECOPE) and the state-owned company, China National Petroleum Corporation International (CNPCI), aimed at expanding and modernizing the Moín refinery in Limón.

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