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Multinational ready to acquire Curacao oil refinery before 2019
Published on October 19, 2012 Email To Friend    Print Version

WILLEMSTAD, Curacao -- Linkoil International is ready to purchase the oil refinery in Curacao if the contract with PDVSA, the Venezuelan state oil company, is not extended.

In two letters, one to the president of the board of directors Mr Van der Dijs in March 2012 and the other to the Minister of Finance dated October 12, 2012, Linkoil sought to give a presentation on what this company stands for. According to the letter to the board, the multinational wants a joint-venture and to reach an agreement to purchase the refinery as 100% owners.

The price tag is $1.5 billion and includes funds for the government to buy out the lease agreement with PDVSA. The multinational wants to operate the refinery and invest in expansion. They also plan to invest another $1.5 billion in the refinery. Plans are to expand and modernize the refinery; expand and modernize the facilities; add more tank capacity for LNG and LPG and repair existing tanks while expanding their capacities.

There will also be plans to resolve the issue of environment. The maintenance of the refinery will be according to the European Union standards.

The multinational will also refine crude oil from different countries, e.g. Mexico, Brazil and Venezuela. This multinational is represented by Maduro & Partners, who have requested a meeting with the Minister of Finance to give a presentation.

Republished with permission of the Curacao Chronicle
 
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