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 to be converted to storage terminal
Published on September 5, 2012 Email To Friend    Print Version

By Caribbean News Now contributor

ORANJESTAD, Aruba -- Valero Energy said it will convert its Caribbean oil refinery in Aruba into a storage terminal while it continues seeking a buyer for the plant.

Just last month, Aruban Premier Mike Eman announced that an agreement in principle between the American oil company and the Chinese state-owned company Petrochina for the sale of the Aruba refinery had been reached, subject to Beijing’s approval.

However, Valero is still in talks to sell the Aruba plant but no deal is imminent, company spokesman Bill Day said on Tuesday.

Valero said it will keep the refinery ready for a restart in case it can reach a deal to sell the plant.

Valero in March suspended refining operations at the 235,000-barrel-a-day Aruba facility, having tried for years to sell the plant. Valero bought the Aruba refinery in 2004 for an estimated $465 million and used it to partially refine the heavy, sour crude it received from Venezuela, sending the half-finished product to refineries in other regions, including its own Gulf Coast operations to finish the process.

The Aruba plant has a history of shutdowns. Built in 1929 by Standard Oil, it was shut down in 1985 by successor company Exxon, now Exxon Mobil, only to reopen five years later. Valero bought it in 2004, closed it in 2009 because of challenging economics and then restarted it again in 2011.
 
Reads: 3798





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





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.

2014 Mind Your Eye


Other Headlines:



Regional Sports: