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Costa Rica’s Recope Cancels Refinery Project with China

Costa Rica News – Recope does not seem to want anyone to take a piece of their cash cow in Costa Rica, the petroleum sector. 

Gasolina foto A Otarola 11-12-08Costa Rica’s state-run oil company Recope said on Thursday it had decided to abandon a refinery upgrade project it was working on with China National Petroleum Corp (CNPC) in the Central American country.

In 2009, the two firms formed a company called Soresco, with each putting in $50 million.

But the project has been paralyzed since 2013 by the country’s comptroller after complaints of conflicts of interest in the feasibility studies. 

From Reuters, Edited by Dan Stevens

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