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 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.

More on this topic

New Refinery Still Lacking Funding

March 2012

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.

In order to form a joint venture, the China National Petroleum Corporation (CNPC) asked its Costa Rican partner Recope for the minimum return of 16%.

Work Starts on New Refinery in Costa Rica

December 2011

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.

A statement from RECOPE reads :

The Australian firm Warley Parsons last week assumed the basic engineering for the project to build a new refinery with capacity to process 60,000 barrels a day, to be carried out in conjunction with the company SORESCO, formed by the Costa Rican Oil Refinery (RECOPE) and the Chinese government company CNPC International.

Feasibility Studies Required for Oil Refinery Expansion

July 2010

The Costa Rican state-owned oil refinery (Recope) invites bids to analyze the feasibility of expanding the Moín refinery.

Recope’s president indicated that the invitation to carry out the $5 million study was sent to several companies that were pre-selected for their technical capability.

Feasibility Study Underway for Costa Rica – China Refinery

May 2010

Soresco (a joint venture between Costa Rica’s Recope and China’s CNPC) will hire a company to develop the refinery’s feasibility studies.

Such study will determine if the countries go forward with the $1 billion project. China requires the project to have at least a 16% return on investment.

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