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Thread: refinery News

  1. #41
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    Google translation ~ Photo at link:

    Citgo deal annually produces over 50 million florins


    Saturday, June 11th, 2016 14:54

    SAN NICOLAS - Last night, Mike de Meza, Minister of Economic Affairs and Prime Minister Mike Eman were welcomed by a crowd in San Nicolas as heroes, after the signing of the contract with the US oil company Citgo and the Venezuelan state-owned PDVSA, . With high fives, champagne, cake and confetti cannon they celebrated that the refinery will open its doors again in August. But first, it needs for approval yet of yesterday's signed contract of the Advisory Board and approved by parliament. The government hopes that this round will happen in July. Then the refinery is owned byAruba and leased to Citgo for a period of fifteen years. The work to run the refinery will started in August, and will cost Citgo about $ 1 billion. It's still at least 18 months, according to the government before the refinery is fully operational again. Every year, the deal should provide the Aruban government at least 50 million florins: 35 million florins to lease proceeds and the remaining 15 million florins in tax revenue.

  2. #42
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    CITGO Aruba and the Aruban Government Finalized Agreement to Re-open Refinery

    12:48 ET from CITGO Petroleum Corporation


    HOUSTON, June 11, 2016 /PRNewswire/ -- Yesterday, in Caracas, Venezuela, authorities from the governments of Aruba and the Bolivarian Republic of Venezuela, and officials from Petróleos de Venezuela, S.A. (PDVSA) and CITGO Aruba, gathered to witness the execution of a commercial agreement between CITGO Aruba and the Aruban government that will reopen a 209,000 B/D refinery located in San Nicolas, Aruba. In attendance at the event were the President of the Bolivarian Republic of Venezuela, Nicolás Maduro; the Venezuelan Minister of Energy and Petroleum, Eulogio del Pino; the Prime Minister of Aruba, Mike Eman; the Aruban Minister of Economy, Communication, Energy and Environment, Mike de Meza; and the President and CEO of CITGO Petroleum Corporation, Nelson P. Martínez.

    Following several months of negotiations, officials from the Aruban government and CITGO Aruba, announced plans to reactivate operations, which had been idled since 2012, through a refining facilities 15-year lease agreement, with a 10-year extension option. CITGO Aruba, a group of operating companies under PDV Holding (a PDVSA subsidiary), will operate the facility with CITGO Petroleum Corporation providing services to the group.

    "This project will transform the refinery into an upgrader for Venezuelan extra-heavy crude within 18 months to two years. This process - which will require an investment ranging from $450 to $650 million, to be obtained from external financing sources - can be compared to a large turnaround. This is an area in which CITGO is well positioned to provide technical expertise and services," Martínez said, adding that with these changes, the refinery would become a successful economic venture for all parties.
    "This has been a very well thought-out process which involved the participation of the best available technical consultants from CITGO and PDVSA, as well as the input of several leading international refining industry consulting firms, such as KBC Advanced Technologies, KBR of Germany and others that assessed the project's technical and financial viability," Martínez added.

    Once the adaptation process has concluded, the facility will upgrade extra-heavy crude from the Orinoco Oil Belt, transforming it into intermediate crude, which in turn will be sent on to the CITGO refining network in the United States for further processing, Martínez explained. At the same time, naphtha will be sold to PDVSA for use as diluent for its extra-heavy crude.

    A complementary project under consideration would allow the utilization of excess natural gas available in the Paraguaná region of Venezuela. Besides the significant energy cost savings in operations that this would generate, using natural gas would substantially reduce refinery emissions and contribute to environmental protection efforts in the region, the CITGO CEO said, adding that the construction of a gas pipeline linking the coasts of Venezuela and Aruba, which are just 17 miles apart, is being evaluated towards this end.

    "This is a very strong project from both the technical and financial perspective. It is a strategic partnership that will benefit CITGO Aruba, PDVSA, Venezuela and Aruba through operations that reduce costs in terms of transportation, energy and storage needs, fully utilize existing infrastructure and maximize the benefit of extra-heavy crude oil production from the Orinoco Oil Belt, the largest oil reservoir in the world," Martínez concluded.

    About CITGO
    CITGO, based in Houston, is a refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals and other industrial products. The company is owned by CITGO Holding, Inc., an indirect wholly owned subsidiary of Petroleos de Venezuela, S.A., the national oil company of the Bolivarian Republic of Venezuela. For more information visit www.CITGO.com.
    SOURCE CITGO Petroleum Corporation

    http://www.prnewswire.com/news-relea...300283361.html

  3. #43
    Senior Member glynis's Avatar
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    Good for Arubas economy.And the locals for jobs ,I wish Aruba well ....
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    Glynis... I'm hoping... I've heard that they are bringing in a lot of Venz. people for "unskilled" labor... I don't they will use many Aruban's for the renovations (though there are some there now working it, but "skilled")...I'm hoping they train Arubians as Mechanics Operators, and that Aruban born engineers come home to work at the refinery. Let us see what all this brings. Dealings with Venezuela, in the past with other countries and companies have not been so positive. I just pray that this one is.
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  5. #45
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    I hope that they did not make a deal with the devil.
    Many Arubans suspect they did though.

    Time will tell.

  6. #46
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    Andrea,

    Yep... only time will tell...


    Quote Originally Posted by Andrea J. View Post
    I hope that they did not make a deal with the devil.
    Many Arubans suspect they did though.

    Time will tell.
    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. #47
    Senior Member glynis's Avatar
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    That's the problem I did hear from some locals they are not happy ,with venz people comeing in to Aruba ,refinery workers, they dont like it now,....
    i know some of the locals do not feel safe ,We never used to lock our homes up.......
    And why sign in Caracus...that's not me saying this ....Also said is there is an election comeing up!!

    But all you can do is hope that it will be good for Aruba...same old story really ,even the UK , Us bods do not get much of say
    large companies do things that we cannot change ...
    I did not like to put local friends views on the refinery. But perhaps they should be heard ...
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  8. #48
    Super Moderator Jacki's Avatar
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    An article from yesterday's Caribbean Journal:
    http://caribjournal.com/2016/06/12/m...03ae-189150617
    Jacki ~ loving Aruba from NJ

  9. #49
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    Where do I apply? I wish lol

  10. #50
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    Google Translation:

    Arends: MOU with CITGO regarding construction of a gas pipes on Aruba

    Posted on 12/06/2016 8:27 pm AST | Updated on 6/12/2016 8:27 pm AST

    ORANJESTAD - Aruban government has indeed an agreement (MOU Memorandum of Understanding) signed with CITGO. The leader of the Aruban negotiating team, Richard Arends, confirmed this Sunday through a communique. Last Friday, many people were signing while following the ceremony in Venezuela on television and wondered whether there was a genuine agreement or a MOU. According to Arends, this Friday also involved an MOU in Venezuela , namely for the construction of a pipelines between Aruba and Venezuela in favor of the Citgo refinery. There will now be examined how these lines can best be applied. A strange state of affairs, according to many, because the original idea was just to start with the construction of gas pipelines and to use gas instead of oil, in order to talk of a 'green' refinery.

    WHY THIS MOU IS DIFFERENT FROM THE FIRST

    "This MOU stems from earlier MOUs from the years 2010-2013, which the Kingdom Government then signed with the Venezuelan Republic," Arends explains which then indicates that already was spoken in an MOU in 2010 to investigate the possibility of gas pipelines lay between Aruba and Venezuela. "Now that Citgo will become operational, a line is being built to supply the refinery gas." Where Arends is not clear in his message provided that reference is signed by Citgo Petrolium, while the American press (ABC News) talks about Citgo Aruba, a company established in Aruba in January.

    RVA AND PARLIAMENT TO HAVE TO ACCEPT THE DEAL FIRST

    Which has allowed a discussion member of the Venezuelan parliament (Asamblea Nacional) (see the article on Parramatta on this news) is also recognized by Arends. Friday concluded agreements with the Citgo Petroleum Corporation, first must go to the Advisory Council of Aruba for advice and then to the Aruban parliament before they can become law. A similar procedure must also be followed in Venezuela. According Arends Citgo plans to begin the start-up activities by August 1st. It will then take about 18 months before starting the production. The refinery has halted five years and it takes the necessary steps to get the plant back to run properly and safely.

    NETHERLANDS PUTS QUESTION MARKS TO DEAL

    MP for the VVD in the Netherlands, André Bosman said Sunday in an interview with NoticiaCla.com said he has serious doubts about the Citgo deal. He believes it is not normal for a first contract is concluded and that only then go to the parliament. "If you've signed a contract, you are bound there. The parliament can not change anything, because the deal is done, "said Bosman. He made a comparison with the 'bail out' at the time of ABN AMRO by the Dutch government. "When there are indeed conducted secret negotiations, but the content of the agreement was known before the deal was closed. Then, the House approved the deal!" Bosman said.

    http://www.noticiacla.com/news/6223

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