THE ISLA REFINERY OPERATIONS
By: JJosephaNews
Reading Time: 1:20 mins.
Twitter: @JJosephaNews
Willemstad, Curacao. After the contract between the Curacao Oil Refinery and PDVSA expired at the end of 2019, the relationship deteriorated, but now, it appears that the Venezuelan company, is once more interested in operating the oil refinery.
THE OIL REFINARY OPERATIONS
A total of twenty companies have expressed an interest in operating the Curacao oil refinery. Since 2020, the refinery main operations were stopped. According to reports, the former president of Petróleos de Venezuela (PDVSA): Mr. Luis Giusti Lopez, the Venezuelan state oil company has made a bid to operate the Isla oil refinery in Curacao.
There were previous attempts to find a successor to operate the Refineria di Kòrsou (RdK) by the former government, but have failed. The last party negotiated until September 2021 was the German company Curacao Oil Refinery Complex BV (CORC). Refineria di Korsou (RdK) had reached a closing agreement with CORC to operate the 335,000 barrel-per-day (bpd) Isla refinery and neighboring facilities. Unfortunately, apparently, the company was unable to secure the necessary financing to operate the oil refinery.
Apparently, two Venezuelan business groups are interested in the oil refinery:
- Aldea Group of Luis Gallegos and Luis Alba
- Petróleos de Venezuela (PDVSA)
In the December of 2020, in a summary court judgment in favor of Curacao Refinery Utilities NV (CRU) against Curacao Oil Refinery; “Refineria Isla Curacao BV”; aka “Isla”, CRU requested the court to dictate a sentence and decide on what is it that Isla would need to pay on the storage of products in the tanks. The judge passed the verdict, which meant that; Isla owed more than 24 million guilders to CRU.
During an interview, Curacao Prime Minister: Mr. Gilmar Pik Pisas (political party MFK), declared that he has the intentions to have the Isla Refinery open by June this year.
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