Published On: Mon, Dec 10th, 2012

Schotte: From 2003 till the end of October 2010 270 million vanished from BOO

WILLEMSTAD – For many years Curacao Refinery, a public company of the Government, has had millions of dollars coming into the company after the refinery was leased to Petroleos de Venezuela Sociedad Anonima (PdVSA) for 25 years.

Here is a breakdown of all the incomes since 1995 till 2019:

  • From 1995 till 1999 12MM US$ each year for a total of 60MM US$
  • From 2000 till 2004 15MM US$ each year for a total of 75MM US$
  • From 2005 till 2009 18MM US$ each year for a total of 90MM US$
  • From 2010 to 2014 there will be 20MM US$ each year for a total of 100MM US$
  • In the year 2000 a contract extension was signed for five more years: from 2015 till 2019 with an income of 20MM US$ for a total of 100 MMUS$.

This is a total sum of 425 million dollars in 25 years for the public company RdK.

Aside from these incomes after October 10, 2010 and forth it was indicated that since 2003 until October 2010, during the former management of shareholders Mitsubishi , Marubeni and Aqualectra, more than 270 million dollars have completely vanished which was supposed to be invested in BOO causing a delay, wear and tear of the plants which have to be used to produce electricity, water, steam and also compressed air for PdVSA.

In October 2010, Schotte’s Government inherited this situation and also the grave consequences of a Refinery which had its operations completely halted.

Curacao Refinery is an important factor in our economy: Since 2000 and forth it contributes with 7 to 8% to the Gross National Product.

Its contributions to our foreign exchange reserve is about 15%, 1500 direct jobs, more than 2000 jobs indirectly, a spin-off with a major effect in our harbor and more.

Nevertheless in less than one month we were able to get the Refinery back on track in December 2010 and guarantee everything the refinery means for the island. Today RdK, thanks to all the work done in the first 12 months of Schotte’s Government, has received an income below its control and this means an income of 3.6 million dollars for the next 96 months which will directly be deposited in RdK’s bank account summing a total of 345 million dollars. With a responsibility of investing in BOO (CRU) to guarantee the contract with PDVSA.

Apparently the interim Government of Prime Minister Stanley Betrian has indentified these RdK’s gross income and is now trying to see how it can get a hold of this and bring the plant back to its old bad management.

During the first 7 years of BOO, Curacao, RdK and BOO have not seen benefits from contracts signed since 2003 till October 2010. The money has disappeared through bank accounts managed in New York.

Now that there are large sums of money entering RdK every month, the interim Government supported by the block of 11 under the leadership of Helmin Wiels is on the prowl to stop RdK to do business, businesses which could be beneficial to the island and its people.

Order has been restored in RdK during the last 23 months of Schotte’s Government in which there were investments and thus more income for RdK. RdK was then able to assume its responsibilities for the environment, betterment of the processes, dialogue between RdK and PdVSA, restoration of the supplies to PdVSA guaranteeing an efficient operation.

Waste of money traveling around the world going to Japan, New York to Marubeni and Mitsubishi, which was a failure, which has led to the deterioration of BOO at the end of 2011.

Those that are against clarity, efficiency, guarantee of good operations which are a major part of our the heart of our economy, BOO/CRU which are 100% owned by RdK (public company) do not love their country.

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