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RECOPE ANNUAL REPORT 2015
The following challenges and complications
were identified in the course of developing the
infrastructure:
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The expansion of the Caribbean Oil Terminal
is key to put an end to the large sums of
money being paid for unloading delays and
dead freight. The project is in progress and is
expected to be completed in 2016.
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Continuously monitor the installation of storage
tanks in company’s terminals and storage sites,
in addition to the relevant directors and those
responsible for each project.
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Monitor the storage tank maintenance program,
primarily in Moín, in addition to the relevant
directors and those involved.
On the topic of financial management, resolving the
following challenges and complications are paramount:
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To perform before Aresep an ordinary price
adjustment to cover the possible fluctuations in
the international market price of oil, the increase
in the volume of inventory, the variations in
the exchange rate, the short-term and long-
term operating expenses, investments and
obligations, and consider doing a technical
appraisal of the value of the company’s
fixed assets and reveal and divulge the new
methodology for setting fuel prices.
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To monitor the actions taken by RECOPE,
through the motion for revocation of judgment
with supplementary appeal submitted before
Aresep, with the purpose of compensating the
service provider for the operational activity
expenses, and conferring the necessary tools to
strike a financial balance, in response to the new
price setting methodology, which is expected to
CHALLENGES
