Published On: Thu, Dec 4th, 2014

Letter of Intent PdVSA and RdK expired

Oil RefineryWILLEMSTAD - The Letter of Intent, Memorandum of Understanding (MoU) between the Venezuelan state oil company PdVSA and Refineria di Kòrsou (RdK) or the lessee and lessor of the Isla refinery, expired on November 30.

But the parties are still at the negotiating table, confirms Werner Wiels, president of the multidisciplinary team (MDTP) which was charged by the government with the future of the refinery.

According to Wiels, the MDTP has a mandate from the Curaçao government to negotiate with PdVSA to reach an outline agreement, which has to serve as a basis for a new lease with the Venezuelans. The current contract expires in 2019.

The MoU was signed on May 30 by the then Vice-President of PdVSA and current Minister of Energy and Mines of Venezuela, Asdrubal Chavez, and RdK director José van der Wall-Arnemann. The MoU had a maturity of six months and ended on November 30th.

Wiels said that the parties are currently at the negotiating table, in accordance with the mandate given to the MDTP by the government of Curaçao. Wiels could not go into the details about when the negotiations will end. He stressed that the negotiations are secret.

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