Costa Rica News – Recope, the Costa Rican Oil Refinery, conducted an internal audit that evaluated the productivity and efficiency of the company’s projects.
The audit was completed in December 2014 and identified that the company’s portfolio lacked updates regarding project importance, viability, and funding options. Lack of communication between departments was also deemed an issue.
Chief Executive Sara Salazar has considered the outcome of the audit to strengthen and improve the company. She reportedly will increase the budget and staffing in the department of planning to address these issues.
The company’s biggest project at this time is the construction of a terminal to import natural gas in Limon. This project is set to cost $192 million. Recope currently holds the monopoly of the fuel market in Costa Rica.