CNPC signs JV with Costa Rican firm

China National Petroleum Corp. (CNPC), parent of PetroChina, has signed a joint venture agreement with Refinadora Costarricense de Petroleo S.A. (RECOPE), a Costa Rica-based operator of refinery plants. According to the agreement, the two parties will establish a joint venture in Costa Rica, with a term of 25 years, to upgrade, reconstruct and expand the Moin refinery in Costa Rica. (November 20, 2008)