Venezuela’s PDVSA negotiating Curacao refinery lease, open to China partners

26 Aug 2017   China, Curacao, Venezuela

Venezuelan state oil company PDVSA on Thursday said on Friday it was negotiating the continuation of its lease of Curacao’s Isla refinery but was open to Chinese partners following a preliminary deal between the island and China’s Guangdong Zhenrong Energy to operate the complex. PDVSA has for decades operated the refinery, which opened in 1918, under a lease agreement. But the cash-poor company has been reluctant to invest some $1.5 billion that Curacao authorities requested several years back to modernize the 335,000 barrels-per-day facility. China’s Guangdong Zhenrong Energy Co, a commodity trader with strong backing from Beijing, signed a binding framework pact with Curacao’s government in November. If the deal goes ahead, the Chinese firm would replace PDVSA […]

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