Chinese Refinery in Costa Rica: Round Two

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

Thursday, July 16, 2009

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).

In March 2009, the Comptroller vetoed the agreement for the construction of the refinery, signed in 2008 by Costa Rica's Recope and China's CNPC. This agreement had the approval of President Oscar Arias.

More on this topic

Costa Rica: $700 Million for Refinery

November 2009

China National Petroleum Corporation (Cnpc) will invest up to $700 million to finance Recope's expansion.

Recope is a Costa Rican state-owned oil refining company. Together with Cnpc, they intend to expand an oil refinery in Costa Rica, with the goal of tripling its current production, from 20.000 to 60.000 daily barrels.

Costa Rica will Expand Refinery for $1 Billion

September 2009

The Comptroller's Office approved an agreement between state-owned Recope and China for expanding the oil refinery in Moín.

Said agreement was signed between Costa Rican Oil Refinery (Recope), and CNPC International Ltd, a subsidiary of China National Petroleum Corporation. According to it, both companies will provide the necessary resources to increase production from 18.000 barrels to 60.000 barrels a day.

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.

Agreement for chinese refinery vetoed in Costa Rica

March 2009

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

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 .

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