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