Page 8 - Utilities 15 Aug'15

Mike and Mike leave for Holland
to gather advice on what decision

to take regarding the refinery

Valero needs to be involved in the entire project but have already expressed in the
past that they can transfer everything back to the Government if the Government
wants that. This will naturally absolve them from all claims. If a new company buys
the refinery they must take over the responsibilities of previous refineries such as
as Coastal, El Paso and Valero. These are all subjects that need to be discussed.

There a different options currently being discussed for example: they are discuss-
ing whether or not to sell the Aruban refinery, lease it or maybe sell parts of it and
keep parts of it like the transshipment and marketing part.
However all these options must first be discussed so they can decide what is best
for Aruba.

The Government has however met with Citgo twice already. However Citgo will
ultimately decide whether reopening the refinery is feasible, but the question still
remains on what is better for Aruba in the long run, according to Prime Minister
Mike Eman.
That’s why we are currently in the stage of deciding whether we will make a deal
or not, for this reason Minister Mike Eman wants the input of the Dutch Kingdom,
that’s why the meeting with the Minister of Exterior relations of Holland Bert
Koenders is extremely important.

PRIME Minister Mike Eman along with Minister of Energy Mike de Meza and Saturday, August 15 2015 - ARUBA TRAVELLER

accompanied by some counselors leave for Holland where they will meet with the
Minister of Exterior Relations Bert Koenders about the possibility of reopening
the refinery.

The Aruban delegation will meet with Bert Koenders
next week Wednesday to discuss more about the
developments regarding the refinery.

Aruba wants to involve the Dutch Kingdom in the refinery evaluation process.
Bert Koenders’ Ministery is extremely experiences on this matter, according to
Prime Minister Mike Eman.

However Prime Minister Eman hasn’t mentioned that there is currently a Spanish
company interested in developing a major hotel project in Seroe Colorado known
as Bahia Principe, but this company is only willing to do business with them if the
possibility of reopening the refinery is off the table.

Mike Eman confirmed that the group interested in the refinery is Citgo, a subsid-
iary of PDVSA. This is however a decision that must be taken along with other
partners in the Dutch Kingdom, since we want to make sure that it will benefit
Aruba in the long run.
Valero is obviously involved in all these conversations and decision making process
since they are the refineries’ owners.

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