Aruba on Wednesday reached an agreement with U.S. based Citgo Petroleum Corp to ...
FILE PHOTO: The Citgo Petroleum Corporation headquarters are pictured in Houston, Texas, U.S., February 19, 2019. REUTERS/Loren Elliott/File Photo
The Caribbean nation plans to pursue outside candidates to take over the 209,000 barrel per day refinery, said Prime Minister Evelyn Wever-Croes. The refinery has been idled due to U.S. sanctions on Citgo’s parent, Venezuelan state oil firm PDVSA. Citgo said the agreement would allow it to temporarily suspend the contract until “a democratic transition is ongoing in Venezuela.” Oil-storage operations at the San Nicolas site also will be transferred to Aruba, and Citgo “will address its obligations with workers and suppliers” during the hand over, the statement said. A Citgo spokesperson declined further comment.
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