Curacao PDVSA Isla refinery resumes work after eight-month stoppage
Petroleumworld 01 09 2019
Curacao's 335,000-barrel-per-day (bpd) Isla refinery has resumed work, management of the government-owned facility said on Tuesday, after eight months of paralysis caused by a dispute between its operator, Venezuela's PDVSA, and U.S. producer ConocoPhillips.
Isla, which has been looking for a new operator to run the refinery beginning at the end of this year, restarted one of its crude distillation units and its thermal cracker, it said in a statement.
“Both units are producing gasoil and fuel oil,” it added.
The plant suffered a fire early last year and fell idle after ConocoPhillips brought legal actions against PDVSA over a $2-billion arbitration award linked to the nationalization of Conoco's projects in Venezuela. The U.S. company got court orders temporarily seizing PDVSA's cargoes and terminals across the Caribbean.
The parties reached a payment agreement in August. Conoco said seized assets would be released following the reception of the first installment, which was received in the fourth quarter.
The long paralysis of the island facility, which is crucial for PDVSA's crude blending, storage and shipping operations, spurred the government of the Caribbean island, which owns the refinery, to start a process to choose a new operator.
Houston-based Motiva Enterprises, a subsidiary of Saudi Aramco, was chosen in December as preferred bidder to operate the refinery, according to local media, but the government has yet to confirm the decision.
Isla's management said the restart process took longer than expected due to its lengthy paralysis. The utility company providing power and other industrial services to the refinery also struggled to resume supply.
Isla declined to comment on the status of the bidding process.
We invite you to join us as a sponsor. Circulated Videos, Articles, Opinions and Reports which carry your name and brand are used to target Entrepreneurs through our site, promoting your organization’s services. The opportunity is to insert in our stories pages short attention-grabbing videos, or to publish your own feature stories.
Reporting by Sailu Urribarri; editing by Marianna Parraga and Jonathan Oatis from Reuters.
reuters.com 01 08 2018
Hit your target - Advertise with us
PW 300.000 plus request per week
Copyright© 1999-2019 Petroleumworld or respective author or news agency. All rights reserved.
We welcome the use of Petroleumworld™ (PW) stories by anyone provided it mentions Petroleumworld.com as the source.
Other stories you have to get authorization by its authors. Internet web links to http://www.petroleumworld.com are appreciated.
Petroleumworld welcomes your feedback and comments, share your thoughts on this article, your feedback is important to us!
We invite all our readers to share with us
their views and comments about this article.
Write to firstname.lastname@example.org
By using this link, you agree to allow PW
to publish your comments on our letters page.
Any question or suggestions,
please write to: email@example.com
Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels