Outlook on Oil Supply

According to Prime Minister Gilmar Pisas (MFK), PdVSA will supply crude oil to Curaçao for the next ten years, amounting to $450 million, to repay a debt of $1 billion. The current price of a barrel is approximately $75. This involves 6 million barrels over ten years, 600,000 barrels per year. This equates to slightly more than 1,600 barrels per day (bpd). Until PdVSA's departure in 2019, the refinery processed around 200,000 bpd. 

This, however, does not explain how the Isla refinery is expected to account for 10 percent of the GDP. The use of Venezuelan (heavy sulfur-containing) oil in larger quantities will likely exceed modern environmental standards, even with the use of liquefied natural gas (LNG), leading to violations of court decisions and environmental quality and health concerns for residents. This would be contrary to the statements made by the court (and the government/GMN itself). 

Peter van Leeuwen, Chairman of the Clean Environment Foundation in Curaçao (Smoc) 




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