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Thread: refinery News

  1. #21
    Member EdandLiz's Avatar
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    Ok, so maybe I can help a little here and explain what is going on... I too have my reservations, as to if it will REALLY work... however, let me explain a little.

    First, the refinery WILL NOT be making gas, distilling, etc.. so a lot of the unsightly stacks and hardware will be disappearing. My hubby worked at the Exxon Refinery in Linden NJ for over 33 years and explained it like this;

    The refinery will only be used to clean the extremely heavy crude that Venz. has, so it can be provided to a refinery that will process/distill and do what ever else needs to be done. There will be some by products from the cleaning, and these can be sold for further use. However a lot of the "ugliness" of the refinery will go away... at least some of it, not totally but it will look a lot better than it does now..

    Yes, PdVSA does "own" Citgo, but it is an AMERICAN company and, I feel WAY MORE comfortable with an "American Company" coming in here, if anyone is going to "restart" the refinery. PdVSA has the Isla Refinery on Curacao, and it is a wreck... Citgo HAS to come through with EXTREMELY green methods as stated in the agreement and they have to clean up and dismantle...

    It is going to take AT LEAST 2 years to refit the refinery to make it WAY MORE green...and it will be natural gas firing. It will be the 1st of its kind in the Caribbean.

    So please don't think we are going to have a "smelly, stinky refinery" on Aruba... this one, according to the plans, if it happens, is going to be much different than anything else that has been here before....

    To be honest...only time will tell if the funds will really materialize... I know that some of the money has had to be put up front... so we shall see....

    Just my 2 cents...
    Ed and Liz Ginocchio Golden Reef Hospitality - Your Aruba Dream Mgmt. Rental Vacation Homes
    We manage your home just like it was our own! www.myarubadreamvilla.com


  2. #22
    Super Moderator Jacki's Avatar
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    Thanks for the info Liz - quite a different view than what I was thinking.

    (small side note - not to go off topic, but my company handles the telephone system at the old Exxon plant in Linden )
    Jacki ~ loving Aruba from NJ

  3. #23
    Member EdandLiz's Avatar
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    Jacki...

    Infinium now... LOL.. My husband's family has been with Exxon for a gazillion years... in fact, we found out that we have ties to the Lago Refinery here.. Ed's Great Uncle was the Construction Manager of the original Refinery here on Aruba.. So I'm kinda staying on topic... DONE.
    Quote Originally Posted by Jacki View Post
    Thanks for the info Liz - quite a different view than what I was thinking.

    (small side note - not to go off topic, but my company handles the telephone system at the old Exxon plant in Linden )
    Ed and Liz Ginocchio Golden Reef Hospitality - Your Aruba Dream Mgmt. Rental Vacation Homes
    We manage your home just like it was our own! www.myarubadreamvilla.com


  4. #24
    CK1
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    Thanks for your insights, EdandLiz.

    I agree, only time will tell what's going to happen, how much clean-up will be done (if any) and how well the new "green" refinery is going to work.

    And I thought the same: makes me feel better that the deal is done with Citgo (Houston, TX) and hopefully, they are doing a good job, bringing in qualified workers to be in charge and hopefully, providing many jobs for the Aruban people.

    Citgo is still a subsidiary of Venezuela's PDVSA. I wonder how much influence PDVSA has in the future, if it will be sold etc. The deal is for 15 years with a possible extension of an additional 10 years.

  5. #25
    Senior Member Arubalisa's Avatar
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    Citgo fronts for PdV in Aruba refinery lease

    I pulled out a couple of quotes...

    "PdV went through Citgo to pursue the Aruba lease because it has no capital or credit to execute it on its own."

    "But the deal has sparked fury among Citgo's senior non-Venezuelan executives, who tell Argus the deal was conducted behind their backs and hurts the company's financial standing."

    "We have been told that the rehabilitation of the facility will cost just under $1bn, but the terms of the lease cannot be disclosed at his time," the official said, but added that the terms of the deal are "very good" for Aruba's economy.

  6. #26
    Member EdandLiz's Avatar
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    Arubalisa,

    If there is one thing I have learned, from being in the "hospitality" business in the Dutch Caribbean for over 20 years, is that the majority of media is just "sensationalism". They will print what will cause them to "sell papers"... That being said,

    We will wait and see what happens. There are so many questions... and we are waiting to hear the details. Right now, we are STILL waiting on an "official signing" and it being passed by Parliament.

    My previous statements hold.. so let us wait and see, and not panic or sensationalize.. until we know exactly what is going to happen.

    Once again, just my 2 cents....

    Liz

    Quote Originally Posted by Arubalisa View Post
    Citgo fronts for PdV in Aruba refinery lease

    I pulled out a couple of quotes...

    "PdV went through Citgo to pursue the Aruba lease because it has no capital or credit to execute it on its own."

    "But the deal has sparked fury among Citgo's senior non-Venezuelan executives, who tell Argus the deal was conducted behind their backs and hurts the company's financial standing."

    "We have been told that the rehabilitation of the facility will cost just under $1bn, but the terms of the lease cannot be disclosed at his time," the official said, but added that the terms of the deal are "very good" for Aruba's economy.
    Ed and Liz Ginocchio Golden Reef Hospitality - Your Aruba Dream Mgmt. Rental Vacation Homes
    We manage your home just like it was our own! www.myarubadreamvilla.com


  7. #27
    CK1
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    Article in Noticia. com - Google translation:

    Argus: CITGO executives questioned lease refinery deal

    Posted on 18/05/2016 9:36 am AST | Updated on 05/18/2016 9:38 am AST

    ORANJESTAD / HOUSTON - The billion deal between CITGO and the Aruban government, recently announced with great fanfare by the government, has since the minds occupied. Especially the fact that nothing has been signed, and that the agreement is only 'announced' has caused much comment. International press release by the British agency Argus Tuesday the deal was even called "controversial." This qualification was given following information gathered by Argus. Aruba is happy with the deal, while more critical people affiliates to the government put there questioned, especially because it is for their incomprehensible that so much fanfare made an agreement has not been signed.

    INTERNATIONAL AND LOCAL PUBLICATIONS

    This past weekend numerous press releases on this subject has gone out, in which the agreement of all sides is really highlighted by the government. These messages are also distributed internationally. Unlike agencies that the reports "absolutely" have been published, the Argus agency has committed its own investigation and sources consulted within Citgo itself. All that Argus has taken out the press releases of the Aruban government, the statement by Minister Mike de Meza, as would be the deal "completely formalized.

    THE AGREEMENT

    According to Argus neither Citgo nor PDVSA gave official responses following the agreement. It points out that in view of logistics, the Venezuelan society can have this deal on a different location for the production of Naphtha and processing of heavy oil coming from the Orinoco delta. These products will be exported to the Asian market, especially China. According to Argus PDVSA has used Citgo for the deal because it itself does not have sufficient funds and credit to enter into such an agreement.

    ANGER BY NON-VENEZUELAN CITGO EXECUTIVES

    The deal has caused anger by non-Venezuelan Citgo executives who told Argus that the matter is, the deal was done behind their backs and that the deal will affect the financial position of the company. "This is entirely by Venezuelans settled and the terms and conditions are not transparent and marginal," says a senior executive who was not involved in the negotiations, speaking with Argus. This in itself is curious, given that the contract was concluded with executives of Citgo in America. However, because of the lack of transparency it was not clear whether the negotiators were done on behalf of Citgo (except the manager) Americans or Venezuelans.

    APPROVAL BY Venezuala

    The Agency has information that the agreement between Aruba and Citgo has caused a chain of reactions in the opposition in the Venezuelan parliament, because it is a state company and the deal was closed without legal authorization. In Aruba, the agreement must still be approved by the States. "That's in a few days," said a member of the negotiating team.

    In Aruba the minister in charge of energy affairs prompted very vague about the possible date of signing the agreement and wanted no more to say than 'soon'. Also interesting is the fact that the minister stated that the signing could take place both in Aruba, in America or in Venezuela.

    CONTRADICTORY INFORMATION

    While Argus reports that the agreement could cause problems in the parliament, NoticiaCla.com last week report that the opposite may be the case now that the Venezuelan government has demanded that before any signing, Prime Minister Eman must travel to Venezuela to President Maduro text and explain the situation and the intentions of Aruba. When one of the members of the Aruban team of negotiators, a day before the announcement was confronted with this message, it stated that this was not possible because it is not a political deal here. Travel by the Prime Minister to Venezuela would have no meaning and the message was practically denied. The fact that the agreement has not yet been signed reminiscent of many a previous situation, which was not signed because first needed permission from the Venezuelan government. On the other hand, it is a known fact (and Argus also has pointed out) the Aruban parliament must first approve the agreement, although this seems a mere formality, since it has already stated on several occasions to support the deal. The fact is that the agreement has not been signed and nor is it known when the signing will take place. And as long as a thing has not yet been signed, there is no valid agreement yet, although claiming sources that the deal is so certain that signature is just a formality and that after the joint announcement it is difficult for parties to backtrack.

    http://noticiacla.com/

  8. #28
    Member EdandLiz's Avatar
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    Ok, so I'm checking into this. There are quite a few news papers down here, and like in the states (CNN vs FOX)... they are politically swayed....So let's see what is going on.. I will keep everyone updated... For what I know it sounds they they are "very much" embellishing what Argus said... who knows.... but they are correct in one area... nothing signed as of yet...

    PLEASE NOTE I AM NOT POLITICALLY ASSOCIATED IN ARUBA, NOR DO I WISH TO BE....

    Quote Originally Posted by CK1 View Post
    Article in Noticia. com - Google translation:

    Argus: CITGO executives questioned lease refinery deal

    Posted on 18/05/2016 9:36 am AST | Updated on 05/18/2016 9:38 am AST

    ORANJESTAD / HOUSTON - The billion deal between CITGO and the Aruban government, recently announced with great fanfare by the government, has since the minds occupied. Especially the fact that nothing has been signed, and that the agreement is only 'announced' has caused much comment. International press release by the British agency Argus Tuesday the deal was even called "controversial." This qualification was given following information gathered by Argus. Aruba is happy with the deal, while more critical people affiliates to the government put there questioned, especially because it is for their incomprehensible that so much fanfare made an agreement has not been signed.

    INTERNATIONAL AND LOCAL PUBLICATIONS

    This past weekend numerous press releases on this subject has gone out, in which the agreement of all sides is really highlighted by the government. These messages are also distributed internationally. Unlike agencies that the reports "absolutely" have been published, the Argus agency has committed its own investigation and sources consulted within Citgo itself. All that Argus has taken out the press releases of the Aruban government, the statement by Minister Mike de Meza, as would be the deal "completely formalized.

    THE AGREEMENT

    According to Argus neither Citgo nor PDVSA gave official responses following the agreement. It points out that in view of logistics, the Venezuelan society can have this deal on a different location for the production of Naphtha and processing of heavy oil coming from the Orinoco delta. These products will be exported to the Asian market, especially China. According to Argus PDVSA has used Citgo for the deal because it itself does not have sufficient funds and credit to enter into such an agreement.

    ANGER BY NON-VENEZUELAN CITGO EXECUTIVES

    The deal has caused anger by non-Venezuelan Citgo executives who told Argus that the matter is, the deal was done behind their backs and that the deal will affect the financial position of the company. "This is entirely by Venezuelans settled and the terms and conditions are not transparent and marginal," says a senior executive who was not involved in the negotiations, speaking with Argus. This in itself is curious, given that the contract was concluded with executives of Citgo in America. However, because of the lack of transparency it was not clear whether the negotiators were done on behalf of Citgo (except the manager) Americans or Venezuelans.

    APPROVAL BY Venezuala

    The Agency has information that the agreement between Aruba and Citgo has caused a chain of reactions in the opposition in the Venezuelan parliament, because it is a state company and the deal was closed without legal authorization. In Aruba, the agreement must still be approved by the States. "That's in a few days," said a member of the negotiating team.

    In Aruba the minister in charge of energy affairs prompted very vague about the possible date of signing the agreement and wanted no more to say than 'soon'. Also interesting is the fact that the minister stated that the signing could take place both in Aruba, in America or in Venezuela.

    CONTRADICTORY INFORMATION

    While Argus reports that the agreement could cause problems in the parliament, NoticiaCla.com last week report that the opposite may be the case now that the Venezuelan government has demanded that before any signing, Prime Minister Eman must travel to Venezuela to President Maduro text and explain the situation and the intentions of Aruba. When one of the members of the Aruban team of negotiators, a day before the announcement was confronted with this message, it stated that this was not possible because it is not a political deal here. Travel by the Prime Minister to Venezuela would have no meaning and the message was practically denied. The fact that the agreement has not yet been signed reminiscent of many a previous situation, which was not signed because first needed permission from the Venezuelan government. On the other hand, it is a known fact (and Argus also has pointed out) the Aruban parliament must first approve the agreement, although this seems a mere formality, since it has already stated on several occasions to support the deal. The fact is that the agreement has not been signed and nor is it known when the signing will take place. And as long as a thing has not yet been signed, there is no valid agreement yet, although claiming sources that the deal is so certain that signature is just a formality and that after the joint announcement it is difficult for parties to backtrack.

    http://noticiacla.com/
    Ed and Liz Ginocchio Golden Reef Hospitality - Your Aruba Dream Mgmt. Rental Vacation Homes
    We manage your home just like it was our own! www.myarubadreamvilla.com


  9. #29
    Senior Member WaltVB's Avatar
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    Thanks Liz, please keep us up to date with as much politically unbiased news as you can.

  10. #30
    Member EdandLiz's Avatar
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    You've got it Walt. I'm hoping to hear more by the end of the week, firmly.
    Quote Originally Posted by WaltVB View Post
    Thanks Liz, please keep us up to date with as much politically unbiased news as you can.
    Ed and Liz Ginocchio Golden Reef Hospitality - Your Aruba Dream Mgmt. Rental Vacation Homes
    We manage your home just like it was our own! www.myarubadreamvilla.com


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