Wednesday, July 29, 2009

CHINA: CNPC provides update on refinery projects in Costa Rica, Algeria

(http://www.augustenergy.biz/, July 30, Thursday) --- Article from EnergyAsia...

(http://www.energyasia.com/) - China’s CNPC said it has concluded separate refinery deals in Algeria and Costa Rica.

It said it has completed building a 10,000-b/d condensate splitter in eastern Algeria under an engineering and construction contract worth $385 million. The project started in 2006.

The company announced that a subsidiary, China National Petroleum Corp International, and Costa Rica National Oil Company (RECOPE) have signed a supplementary agreement to their joint venture refinery deal concluded last November.

The agreement, signed in the office of Costa Rica’s President on July 15, complements and amends issues on labour and lease pertaining to the refinery.

China’s largest oil and gas producer and supplier said the agreement has been submitted to the Costa Rican Comptroller’s Office for review. The project is CNPC’s first in Central America after the two countries forged diplomatic relations in June 2007.

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