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Costa Rica decrees moratorium on oil exploration

Wednesday, August 3, 2011

\ Costa Rica has imposed a three-year moratorium on oil exploration, René Castro announced on his first day as the nation’s oil minister.\ \ Castro said that Costa Rica lacks market conditions and the appropriate institutional framework that is needed to begin oil exploration.\ \ The decision directly affects efforts by the US company Mallon Oil to establish itself in Costa Rica.\ \ Original source: Inside Costa Rica\ \ \ \