& Tobago

Very usefull links


News links




Dow Jones

Oil price



Views and News




PDVSA's impaired Bonaire's Bopec terminal mostly dormant


By Argus

Petroleumworld 03 06 2019

Venezuelan state-owned PdV's 10mn bl Bopec oil terminal is mostly dormant because of lagging repairs, severing another critical link in the company's once-bustling Dutch Caribbean logistical network.

Bopec, located on the tiny Dutch island of Bonaire, will receive inspectors again next month from the environment and transport inspectorate (ILT), part of the Netherlands' ministry of infrastructure and water management.

"As a result of the economic crisis in Venezuela" Bopec operations "have decreased considerably. Repairs and clean-up must be carried out before the restart of operations," the ILT told Argus today, adding that the next inspection is a follow-up to check on the "required investments."

The agency did not specify the investment amounts.

The safety and environmental inspection follows an ILT decision last month not to impose an order for administrative coercion, known an LOB in Dutch, which would have obligated Bopec to empty its tanks and pipelines, according to a 28 February 2019 statement from the agency.

At the time, the ILT said the situation was "currently acceptable. Because BOPEC eliminated the main risks within several months with a limited investment budget, it was not necessary to impose the LOB."

The ILT said "few or no tankers are docking at BOPEC and only a few tanks are still in service," but the terminal can continue to supply a local power plant. "Improvement plans are in place for when an investment budget becomes available."

The ILT conducted inspections at Bopec in February, March, April and October 2018. The agency said PdV directors are often present during the Bopec inspections.

Elsewhere in the Dutch Caribbean, PdV leases the 325,000 b/d Isla refinery and Bullen Bay terminal in Curacao. The refinery has been mostly out of service for at least a year and only a few vessels pass through the bay for transhipment to other destinations such as Cuba.

In Aruba, PdV's US refining subsidiary Citgo leases a mothballed refinery and terminal, but activity is stalled there as well. A project to refurbish the refinery into a heavy-crude upgrader is halted, and the storage tanks are all empty except for one in which all remaining crude has been consolidated, a local shipping source tells Argus .

On St Eustatius, terminal operator NuStar said in January that its exposure to PdV had been "reduced substantially" after reaching an agreement in 2018. As part of the deal, PdV reduced its storage capacity at the St Eustatius terminal by about half, opening that capacity for lease to third parties.

PdV's Dutch Caribbean corridor was cut off altogether in May 2018 after US independent ConocoPhillips imposed liens on the company's assets to try to enforce an arbitration award. Following an August 2018 settlement, PdV continues to face court-ordered seizures of its cargoes and tankers, as occurred with the Panama-flagged Icaro off Curacao last month .

US oil sanctions imposed on 28 January have further suppressed freight traffic as PdV struggles to import products and exports its heavy crude.




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.



Story from Argus Media.

argusmedia.com 03 05 2019


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 editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1



Contact: editor@petroleumworld.com,

Editor & Publisher: Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2019, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2019, Petroleumworld   / Elio Ohep - All rights reserved



This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.