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Contraloría
Says Chinese Oil Refinery Contract Not Valid
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Contraloría
Says Chinese Oil Refinery Contract Not Valid
The Contraloría
General de Republica de Costa Rica
(Comptroller's Office) said that an
agreement between China and Costa Rica to
jointly build an oil refinery is not valid.
The agreement, signed in October 2008, was
for the Costa Rica state oil refinery
to form a joint venture with the China
National Petroleum Corporation (CNPC) to
build a refinery.
The one billion-plus dollar refinery was to
be built in the town of Moín, next Limon, on
the Caribbean coast, and designed to refine
some 12,000 barrels of oil a day.
But the Contraloría said on Friday said the
contract could not move forward.
The reason: the joint venture would violate
the Refinadora Costarricense de Petroleo
(RECOPE) legal monopoly on oil refining and
distribution. The project can proceed only
if legislators changed the law, enacted in
1993.
Costa Rica president, Oscar Arias, was in
Mexico on an official visit, and government
officials have not commented on the measure.
Costa Rica became the first country in
central America to establish diplomatic ties
with China in June 2007, ending its decades
long diplomatic relations with Taiwan, who
provided Costa Rica with millions of dollars
of investment in infrastructure projects.
China, since diplomatic relations were
established, has moved into that position,
and is paying for a us$83 million dollar new
national stadium in San Jose, and has bought
u$300 million dollars in Costa Rican bonds
at very low interest rates.
In January, China and Costa Rica began talks
for a free trade agreement.
China has steadily won over former Taiwan
allies in Latin America over the years as
its growing economic and diplomatic clout
trumps Cold War alliances. |
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