Page 12 - LatAmOil Week 02 2021

LatAmOil CURAÇAO LatAmOil

The refinery has a design capacity of 335,000 bpd (Photo: Curaçao Chronicle)

For its part, CORC said in a press release dated state-owned Chinese firm collapsed in 2018
January 8 that it was a “100% Curaçao based amidst allegations of corruption. The second
entity with shareholdings of Dick and Doof, was Saudi Arabia’s Motiva, but these talks did
together with the combined trade unions PWFC not bear any fruit.
and APRI.” It also said it was working with Javier The third was the Klesch Group, a privately
Hernandez, the former general manager of the held international industrial commodities firm,
refinery, but did not specify in what capacity. which was named as the winner of a bidding
According to RdK’s statement, negotiations contest for control of the refinery and all associ-
with CORC will take place along two tracks ated facilities in 2019. The two sides had initially
simultaneously, with one track involving the aimed to finalise an agreement by mid-2020,
company and the consortium and the other but negotiations were delayed by the coronavi-
involving Curaçao’s government and the con- rus (COVID-19) pandemic and then derailed
sortium. “The negotiations for all contracts are by Klesch’s failure to meet RdK’s demands for
expected to start simultaneously, and it is antici- more detail on its financial plans. As a result,
pated that a final agreement should be signed by RdK broke off talks with the group last July.
the beginning of this March,” the state-owned The Isla refinery has been idle since 2019.
company said. This is partly because its associated utilities unit,
The consortium concurred, saying it was known as Curaçao Refinery Utilities (CRU),
“looking forward to concluding a final agree- was not supplying steam and partly because US
ment with RdK by the end February 2021.” sanctions prevented its operator, the Venezue-
CORC is the fourth firm that has sought to lan national oil company (NOC) PdVSA, from
acquire RdK’s Isla refinery, which has a design delivering feedstock.
capacity of 335,000 barrels per day (bpd). PdVSA began operating the Isla refinery and
The first was Guangdong Zhenrong Energy associated facilities under a rental agreement
(GZE), which offered $5.5bn for the plant and first signed in 1985 and later renewed multiple
other associated assets, including the Bullen times. RdK allowed the latest version of that
Bay terminal, but RdK’s negotiations with the contract to expire at the end of 2019. ™

TRINIDAD AND TOBAGO
Failed gas supply talks lead

Methanex to idle Titan plant

CANADA’S Methanex is preparing to scale back the Titan methanol plant in Point Lisas. “[The]
its presence in Trinidad and Tobago, after failing company has made the decision to restructure
to hammer out a natural gas supply deal with a its Trinidad operations to support a one-plant
state-owned company. operation and reduce its Trinidad workforce by
Methanex explained last week that it had approximately 60 positions filled by employees
no immediate plans to resume operations at and long-term contractors,” it said.

P12 www. NEWSBASE .com Week 02 14•January•2021