Published On: Fri, Jan 27th, 2017

Isla not willing to hand over its operations to a third party

oil refineryWILLEMSTAD – In a letter presented to the employees the management of the oil refinery Isla stated that the Venezuelan State Oil Company PdVSA will not hand over its operations to a third party, meaning here the Chinese company Guangdong Zhenrong Energy Inc. (GZE).

The management asked the employees to keep an eye on the developments in the negotiations for the operation of the oil refinery after 2019.

The letter comes as a surprise, especially because there was the impression that PdVSA was aware of developments which have been taken place since last year when the government signed a Memorandum of Understanding with the Chinese company for the operation of the oil refinery. Both parties also signed a Heads of Agreement.

The letter also indicates that PdVSA was not aware of the Heads of Agreement signed last year. “The only information we have is what we see and read in the media,” said the management in their letter. Isla is not part of the negotiations with GZE. “Until the refinery has official information about the Heads of Agreement and after a careful study, then we can decide what our position will be.”

Isla also referred to an earlier press release by the President of PdVSA Eulogio del Pino who indicated that the company is interested in continuing operating the oil refinery in Curaçao and the terminal at Bullen Bay.

Isla also reaffirmed their commitment to the project of natural gas in the future. “We will construct the gas pipe between Venezuela and Curaçao. This option is technically viable and a more economical way to get this natural resource both for the island and the company and it is much better for the environment,” said the management.

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