China to fund Costa Rica refinery revamp

Dec 05, 2011 12:00 AM

China agreed terms to finance a $ 1.24 bn oil refinery revamp in Costa Rica, the Central American country's state oil company said.
Costa Rica's refiner Recope said the China Development Bank will loan up to $ 900 mm for the project that will begin next year and be finished at the end of 2013.
The remaining costs of the project will be split between Recope and China's state oil company CNPC.

The expansion of the refinery at the Caribbean port of Moin, Costa Rica's only refinery, will more than double the country's oil processing capacity to 60,000 bpd, up from 25,000 bpd.

The deal was possible after Costa Rica dropped its diplomatic recognition of Taiwan in favour of China in 2007.
The Chinese bank's credit line will become available Dec. 13, 2012, Recope said in a statement.

Australian contractor Worley Parsons will oversee management of the engineering phase of the project, according to Recope.

Market Research

The International Affairs Institute (IAI) and OCP Policy Center recently launched a new book: The Future of Natural Gas. Markets and Geopolitics.


The book is an in-depth analysis of some of the fastest moving gas markets, attempting to define the trends of a resource that will have a decisive role in shaping the global economy and modelling the geopolitical dynamics in the next decades.

Some of the top scholars in the energy sector have contributed to this volume such as Gonzalo Escribano, Director Energy and Climate Change Programme, Elcano Royal Institute, Madrid, Coby van der Linde, Director Clingendael International Energy Programme, The Hague and Houda Ben Jannet Allal, General Director Observatoire Méditerranéen de l’Energie (OME), Paris.

For only €32.50 you have your own copy of The Future of Natural Gas. Markets and Geopolitics. Click here to order now!


Upcoming Conferences
« May 2018 »
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31

Register to announce Your Event

View All Events