CNPC, Recope agree on refining JV finance

China National Petroleum Corp. and Refinadora Costarricense de Petroleo (Recope) have signed a cooperation agreement for financing the refining joint venture they have formed in Costa Rica (OGJ Online, Sept. 4, 2009).

China National Petroleum Corp. and Refinadora Costarricense de Petroleo (Recope) have signed a cooperation agreement for financing the refining joint venture they have formed in Costa Rica (OGJ Online, Sept. 4, 2009).

The JV is to revamp the 24,000-b/d Puerto Moin refinery and increase its capacity to 60,000 b/d. The project awaits approval of Chinese and Costa Rican governments.

After the revamp, Recope will lease the refinery for 15 years.

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