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Thread: refinery News

  1. #51
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    Google Translation:

    De Meza: CITGO is the party of the contract and will operate refinery

    Posted on 14/06/2016 9:00 am AST | Updated on 06/14/2016 9:01 am AST

    ORANJESTAD - Citgo is the contracting party of the Aruban government and will operate the refinery as of August 1st. "If the Venezuelan government and President Nicolas Maduro say that PDVSA is the operator, that is to them." This declared Mike de Meza, Minister of Energy on Monday to NoticiaCla.com. "The 'definitive participation agreement" signed by CITGO, CITGO so is the operator of the refinery and be responsible therefor and liable. CITGO is also the one who invests, "said Meza.

    CONFUSION

    The confusion arises from a television broadcast last Friday, in which the Venezuelan president stated that PDVSA now owns five refineries, including one in Aruba. There were then signed contracts with PDVSA and then with CITGO, which was discussed at a particular time of CITGO Petroleum while at other times showing it had discussed about CITGO Aruba.

    RELATIONSHIP AND PDVSA CITGO

    "CITGO is a subsidiary of PDVSA. PDVSA is ultimately a State-owned. As the president of Venezuela or a minister of the refinery on Aruba wants to talk as if it is part of PDVSA, then they may do that. What also say PDVSA and CITGO, legal and factual CITGO will operate the refinery, "says de Meza.

    http://www.noticiacla.com/news/6238

  2. #52
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    Venezuela PDVSA unit eyes up to $600 mln to overhaul Aruba refinery

    CARACAS, June 22 | By Alexandra Ulmer

    Citgo Petroleum, the U.S. unit of Venezuela's PDVSA, will likely invest about $400 million to $600 million to overhaul Aruba's refinery under a 25-year lease with the Caribbean island's government, a top PDVSA official said on Wednesday.

    Citgo earlier this month signed the agreement to reactivate the 235,000-barrel-per-day refinery, which would help process the South American's oil producer's extra-heavy crude.

    The previous operator, Valero Energy Corp, idled the refinery in 2012 because of its low profit.

    "We're eyeing investments in the refinery that would be more or less between $400 (million) and $600 million," Jesus Luongo, vice president of refining, trade and supply, said in an interview on the sidelines of an oil workers' rally in support of the leftist government of Nicolas Maduro.

    PDVSA President Eulogio Del Pino told Reuters earlier this month that Citgo was raising money from international banks to fund the project.

    Luongo declined to say how much Citgo was seeking.

    PDVSA's finances have declined with the slump in oil prices, but Citgo enjoyed some relief last year from higher refining margins.

    The Aruba complex could be up and running again within 1-1/2 to two years, Citgo has said.

    Venezuela is also mulling building a gas pipeline from the Paraguana peninsula northward to the Aruba refinery, Luongo added.

    Once the oil complex is up and running, PDVSA hopes to boost processing of the OPEC nation's extra-heavy crude output from the Orinoco Belt, whose petroleum deposits are some of the world's largest.

    "The plan is to use the refinery as an upgrader ... for the Orinoco Belt," added Luongo, as workers waved a huge yellow, blue and red Venezuelan flag.

    "It's a refinery that looks a lot like an upgrader."

    Venezuela's plan to build a new complex of upgraders, which convert extra heavy crude into lighter crude, has been hit by major delays.

    The Caracas-based company has been increasingly importing naphtha and crude to dilute oil produced in the Orinoco.
    Luongo said he expected a very similar breakdown of imports in the second semester compared with the first, but declined to provide specifics on PDVSA's commercial strategy.

    "The new upgrader that will come out of the Aruba refinery will give us more flexibility with this," Luongo added.

    (Writing by Alexandra Ulmer; Editing by Richard Chang)

    http://www.reuters.com/article/venez...-idUSL1N19E18K

  3. #53
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    D66, VVD very concerned about CITGO Aruba deal

    25 June 2016

    THE HAGUE--The Dutch Government will shortly provide an extensive update to the Second Chamber of the Dutch Parliament on the recent deal between Aruba and CITGO Petroleum to reopen and operate the refinery in San Nicolas.
    Dutch Minister of Home Affairs and Kingdom Relations Ronald Plasterk made this promise during a debate with the Second Chamber’s Permanent Committee for Kingdom Relations on Thursday on the insistence of Member of Parliament (MP) Alexander Pechtold of the Democratic Party D66.

    Pechtold and his colleague Andrť Bosman of the liberal democratic VVD party questioned the deal between the Aruba Government and CITGO, the United States unit of Venezuela’s state-owned petroleum company PdVSA, signed in Caracas earlier this month.

    Based on the agreement, CITGO will likely invest about US $400 million to US $600 million to overhaul Aruba’s refinery under a 25-year lease. The Aruba complex could be up and running again within one and a half to two years, CITGO has said.

    Venezuela is also mulling building a gas pipeline from the Paraguana peninsula northward to the Aruba refinery. Running the facility on gas will make the refinery more environmentally friendly. Constructing the gas pipeline is a costly affair for which the finances still have to be secured.

    Both Pechtold and Bosman referred to the highly unstable situation in neighbouring Venezuela. “The country is on the verge of a civil war,” said Pechtold, who wondered how this would affect the reopening of the Aruba refinery, the associated investments and the plans to build a gas pipeline.

    “Of course the reopening of the refinery would be a big boost for Aruba’s refinery, but there are also nature and environmental risks. Besides, there are doubts whether this is financially sound,” said Pechtold, who questioned Venezuela’s financial-economic stability. “Who will pay for the gas pipeline? Besides no one knows for certain that the facility will indeed run on gas in the future,” said Pechtold.

    Bosman also inquired about the cost of the pipeline. “The construction of a pipeline is a costly affair, and I am not even talking about the maintenance. All that for an inefficient refinery? I am very worried whether this project is financially feasible. Looking ahead, I see a hole of several billions. Who will pay for that? Certainly not the Dutch taxpayer,” said Bosman.

    In answering the concerns and questions posed, Minister Plasterk emphasized that the refinery was first and foremost an autonomous affair of Country Aruba. This also counted for the financial aspects of the reopening of the refinery. He said that as far as he knew the deal was not entirely completed and that the finances for the projected gas pipeline and the consequences for the environment were not clear as yet.

    Pechtold and Bosman expressed great concerns about the project. “A bit shady. There are simply too many things that are unclear. I want to know whether there is a deal or not, and I want to know the details of this deal,” said Bosman.
    “This is getting me a bit nervous,” said Pechtold, who asked Plasterk if he was willing to look over Aruba’s shoulder in their dealings with this highly complex affair. “The contract involves an extensive document of some 2,000 pages.”

    A proactive approach in this regard from the side of the Netherlands would be very wise, also because the complexity of the project, legal, geo-politically and otherwise, would be too large for Aruba to handle on its own, said Pechtold. “I want to prevent that in two to three years we will all say, we should have kept better check.”

    Plasterk promised that he would discuss Pechtold’s request for voluntary expert assistance with the Aruba Government. He also pledged to draft a letter to the Second Chamber before the summer recess with the information that he had concerning the CITGO deal.

    Pechtold, who pressed Plasterk for this letter, asked that the document contain a sort of “quick scan” with not only information about the deal, but also which consequences the situation in Venezuela could have on the Aruba refinery. “I want to be informed broadly, because I am not at all comfortable on this matter.”

    https://thedailyherald.sx/islands/58...tgo-aruba-deal
    Last edited by CK1; 06-27-2016 at 05:41 PM.

  4. #54
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    Amigoe article - Google Translation:

    Venezuela gas pipeline construction by an international consortium

    Monday, June 27th, 2016 17:02

    ORANJESTAD - A consortium of oil companies, consisting of the US Citgo, Spain's Repsol and Italy's Eni, will build a gas pipeline between Aruba and Venezuela. This pipeline is necessary because the renovated oil refinery in San Nicolas will no longer be on oil, but will run on gas. The construction cost is estimated between 150 and 200 million dollars.

    That made Energy Minister Mike de Meza clear last week in a letter to parliament. Amigoe has been handed this letter. States had asked for clarification of the details surrounding the deal with Citgo. Although Minister De Meza States still would not hand over any signed agreements - in their own words because the negotiations with the current owner of the refinery (Valero) have not yet been completed - he explains in his letter there are more details about the deal. He stressed again that as agreed in the contract with Citgo, the refinery will run on natural gas. The harmful emissions from the refinery, consisting largely of sulfur and nitrogen oxides must be reduced by 99 percent through the use of gas, the minister said. The gas pipeline between Venezuela's Paraguana Peninsula and the terminal in San Nicolas has to be applied during the period that Citgo needs to renovate the antiquated refinery and upgrade. The natural gas is according to De Meza from Cardon IV of the Perla gas field in Lake Maracaibo. That gas field is operated by Repsol.

    Staff

    De Meza also provides clarity on the number of jobs that will be available through the reopening of the refinery. Citgo takes, like Valero in the past, about 600 permanent workers. Including contract workers, the number of work places, when the refinery reaches full production capacity of at least 209,000 barrels per day, up to 3000. Citgo is legally obliged to take on the workers who are still employed by Valero. Which foreign workers allowed to work in the refinery, depending on the qualifications of the available local forces, said the minister.

    http://amigoe.com/aruba/230521-aanle...aal-consortium

  5. #55
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    Amigoe article - Google Translation

    Aruba settles with Valero about the environment

    Monday, June 27th, 2016 17:02

    ORANJESTAD - The negotiations between the Government of Aruba and oil company Valero to acquire the refinery in San Nicolas are about safeguarding Valero from the obligation to dismantle, but also about compensation or repair of environmental damage to the refinery in the period between 1989 and 2012. To do this, according to negotiator Richard Arends they will not wait for an investigation into what the damage right now actually is, but there will be a fee or repairs are appropriate.
    That is what AriŽn Rasmijn writes for the Caribbean Network. On Thursday is the target date, according to Arends, chief negotiator for the Aruban Government, to conclude negotiations with Valero to acquire the refinery, so the legislation and the agreement to the States. Besides negotiations include the transfer of staff, inventory, software, plots and insurance is also possible compensation or repair of environmental damage on the agenda.

    Upon taking over the refinery on Aruba, the agreement with Valero is mainly that they have no responsibility to bear more of a possible dismantling of the refinery, said Arends. That task will be transferred to Citgo, who recently has signed an agreement to lease the refinery for a period of 15 years from Aruba, with the option of 10 years extension. When Coastal oil company in 1989 bought the refinery - Aruba at that time was shortly an owner - was agreed with the former owner Exxon, that they would not be held responsible for environmental damage which was caused by the refinery between 1924 and 1989. In 1983, an economic study was done of the environmental damage. According to Arends that has since not happened. Citgo has agreed that they will carry out a new investigation. "That will take about two years," said Arends. Yet Valero Aruba decided not to wait for that and to come up with a settlement in one lump or repairs. That settlement will be based on existing environmental conditions, improvements to the refinery made by Valero itself and the fact that they will not dismantle. "Most of the damage yet already took place for 1989. In addition, Valero has made many improvements during that period," says Arends. "Actually we have this also slide to Citgo. They need about 25 years, whether or not dismantled, returned in an acceptable condition as stated in the contract. "The government consultant said not to be able to mention any amount but it is based on tens of millions.

    Site

    After the refinery is transferred to the Land Aruba, remain huge tracts of land, which formerly had always been the operator, owned by the Land. The cleanliness of those areas of land are well agreed. A portion between the refinery and tank storage is freed. Arends: "We want to focus on that area clean industry." So Repsol would be interested in building installations associated with gas exploration north of Aruba. In other vacant areas, it is the intention that an under water solar park installation will be build which will absorb C02 algae of the refinery.

    http://amigoe.com/aruba/230524-aruba...r-milieuschade

  6. #56
    Senior Member brady bear's Avatar
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    Forgot to mention this... my tour guard (don't want to say his name is case his boss sees this)
    Was telling us that with this reopening he will be leaving his job that he does love for more money. You can make so much more $$ with the overtime and etc.
    He used to work there and was making $8000.00 us money per month with the overtime and etc.
    Everyone there is so excited for this to be reopen in Aug

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