Published On: Wed, Aug 8th, 2018

RdK to sign MoU with potential strategic partner Isla refinery soon

PDVSAWILLEMSTAD - The public company Refineria di Korsou (RdK), the Curaçao Refinery indicated that it soon wants to sign a Memorandum of Understanding with one of the eight potential strategic partners selected so far. This partner should continue operating the refinery on the island together with the Venezuelan State Oil Company PDVSA.

According to a reliable source, in the short term, the number of potential candidates will be reduced to four. The only issue is that no due diligence has yet been held with the potential candidates.

In talks with the potential strategic partners, RdK recently emphasized that Curaçao does not provide a bank guarantee and that the applicants themselves must provide for the delivery of crude oil. It has also been submitted to the parties whether they are prepared, if necessary, to perform overdue maintenance on the refinery.

RdK also wants to inform PDVSA about the state of affairs of the search for a strategic partner. “We are obliged to do so out of respect and on the basis of the lease agreement with PdVSA. In the conversation, we as RdK will emphasize that both parties need each other. Both parties have a common interest, namely that the refinery will become operational again as soon as possible, regardless of the party that takes care of it,” said the source.

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