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.
The first project already being worked on by the Costa Rican Oil Refinery (Recope) is a new plant in the area, whose works are advanced by 26% so far. It also presented a blueprint for the construction of two tanks on the Barranca plant in Puntarenas to support storage.
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.
After several months of analysis, the Costa Rican Petroleum Refinery (RECOPE) has authorized the construction of a new plant to refine crude oil in Limón, which will triple the processing power of the state enterprise.
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