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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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.

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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January 2009

Recope, in alliance with a Chinese oil company, will create a new private company that will modernize and expand the Moin refinery in Limon.

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.

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