Costa Rica Clears Legal Path for Recope to Move Beyond Petroleum
Costa Rica’s Legislative Assembly has approved a reform that frees the state fuel company to work with energy sources other than oil for the first time, though drivers should not expect any immediate change in what they pay at the pump. Lawmakers gave final approval on July 16, to the Law to Promote the Energy Transition in the Fuel Sector, passing it in second debate with 54 votes in favor, none against and three legislators absent. The bill had cleared its first debate two days earlier, capping an effort that had stalled repeatedly in the Assembly over more than a decade. It now goes to the executive branch for the president’s signature and publication before it can take effect. The reform rewrites the 1981 law governing the Refinadora Costarricense de Petróleo, or Recope , which until now was limited by statute to refining, transporting and selling petroleum and its derivatives. Under the new framework, Recope keeps every one of those responsibilities but gains a...