Caribbean News Now!

About Us Contact Us

Countries/Territories

Jump to your country or territory of interest

Advertise with us

Reach our daily visitors from around the Caribbean and throughout the world. Click here for rates and placements.

Contribute

Submit news and opinion for publication

Subscribe

Click here to receive our daily regional news headlines by email.

Archives

Click here to browse our extensive archives going back to 2004

Also, for the convenience of our readers and the online community generally, we have reproduced the complete Caribbean Net News archives from 2004 to 2010 here.

Climate Change Watch

The Caribbean is especially vulnerable to rising sea levels brought about by global warming. Read the latest news and information here...

Follow Caribbean News Now on Twitter
Connect with Caribbean News Now on Linkedin



News from the Caribbean:


Back To Today's News

Aruba refinery purchase by China agreed in principle
Published on August 18, 2012 Email To Friend    Print Version

By Caribbean News Now contributor

ORANJESTAD, Aruba -- An agreement in principle between the American oil company Valero and the Chinese state-owned company Petrochina for the sale of Valero’s oil refinery on Aruba has reportedly been reached, subject to Beijing’s approval.

Aruban Premier Mike Eman announced the agreement in principle following discussions with Valero executives late last week.

The premier described the agreement between Valero and Petrochina as “phase one” of the sale process. The second phase is the approval of the agreement and the final decision to take over the refinery from Valero. This approval could take some time, said Minister of Finance, Utilities, Communication and Energy, Mike de Meza.

“Generally speaking, it takes over one year to sell a large refinery such as the one on Aruba. It’s a time-consuming process,” de Meza said.

Nevertheless, both Eman and de Meza hope to receive a positive answer from Beijing within several weeks.

The ministers think it’s a good sign that, in a letter to Valero, Petrochina requested that the workers continue to be employed until the refinery has been taken over. Eman endorsed this request in his discussions with Valero.

“After all, it affects almost 600 persons, who often have a specialised function and who won’t easily find similar employment elsewhere,” Eman said.

The premier also emphasised that these employees should stay on when the refinery is taken over.
 
Reads: 6275





Click here to receive daily news headlines from Caribbean News Now!



Back...

Comments:

No comments on this topic yet. Be the first one to submit a comment.

Back...

Send us your comments!  

Send us your comments on this article. All fields are required.

For your contribution to reach us, you must (a) provide a valid e-mail address and (b) click on the validation link that will be sent to the e-mail address you provide.  If the address is not valid or you don't click on the validation link, we will never see it!

Your Name:

Your Email:

(Validation required)

Comments:
Enter Code



Please note that, if you are using an AT&T domain email address, e.g. att.net, bellsouth.net, sbcglobal.net, the verification email will likely not be delivered. This is outside of our control and the only remedy seems to be for readers to complain to AT&T





Disclaimer
User comments posted on this website are the sole views and opinions of the comment author and are not representative of Caribbean News Now or its staff. Caribbean News Now accepts no liability and will not be held accountable for user comments.
Caribbean News Now reserves the right to remove, edit or censor any comments. Any content that is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will not be approved.
Before posting, please refer to our Terms of Use and Privacy Policy.



Other Headlines:



Regional Sports: