Published On: Thu, Feb 4th, 2016

Current lease contract PDVSA not extended

oil refineryWILLEMSTAD – In a letter to the leader of the coalition party PAIS, Alex Rosaria MP, the Minister of Public Health, Science and Environment, Siegried Victorina indicated that the government will not renew the lease contract with the Venezuelan State Oil Company PDVSA.

In his writing the Minister indicates that it is important to move quickly, because the current contract states that if one of the parties does not terminate the contract in writing two years before the contract expires (2019), the contract will automatically be extended for ten years. This would mean that the PDVSA could continue operating the refinery until 2029 without any contractual obligation to modernize it.

Victorina said that the government has decided not to renew the current contract and the lease. The future solution for the oil refinery is to adapt it for the use of Liquid Natural Gas (LNG) as an alternative fuel for the refinery and the Curaçao Refinery Utilities (CRU) plant.

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