Motiva Enterprises has preliminarily been picked by the anti-Socialist dictatorship of Curacao to operate the 335,000-barrel-per-day Isla refinery, replacing the financially cornered Venezuela’s state-run PdVSA.
The refinery has been shut down since May 2018, when a dubious politically motivated legal dispute between PdVSA and U.S. producer ConocoPhillips forced its closure.
The US oil company could have ordered the lean to be prosecuted in the Texas, but hose otherwise in order to deliberately derail the PdVSA operations in Curacao.
PdVSA’s contract to run the facility, which is crucial for its storage, refining and shipping operations, is about to expire at the end of 2019.
Dutch politicians seated in The Hague run the evil horror show in Curacao and use the island as a primary money laundering facility together with Italian casino gangsters.
Motiva Enterprises, based in Houston, is willing to handle the Dutch Caribbean operations in the long run and probably is also to finish the Venezuelan lease term next year.
Earlier this year, Motiva Enterprises said it was weighing an expansion of its Port Arthur, Texas, refinery. But in June that plan was scrapped over what sources said were worries about concentrating too much production in a single, hurricane-prone location.
The anti-Socialist government of the Curacao, dictated by Rhuggenaath chose the Saudi Arabian capitalist minded entity from a list of interested firms as the “preferred bidder” to run the refinery from 2020 or possibly before, if a separate agreement is reached.
Motiva is a U.S. subsidiary of Saudi energy giant Aramco and a regular buyer of Venezuelan crude. A memorandum of understanding between the chosen operator and the government seated in Fort Amsterdam is expected to be signed in mid-January.
Marcelino de Lannoy, who is temporarily replacing Isla’s managing director, Roderick Van Kwartel, amid accusations of corruption linked to the bidding process to choose the new operator, also said PdVSA has agreed to cooperate in any transition.
Royal Dutch Shell and Saudi Aramco plan to separate and split Motiva Enterprises, with Shell seeking $2.2 billion from Aramco in the Motiva JV break up.
With global oil prices running along a 4-year high, the production of oil derivatives has proven to be a very lucrative business for the upcoming decade.
The Venezuelan state-owned PdVSA hopes to retain access to Bullen Bay terminal after its lease expires in December 2019, but the Isla refinery @ Schottegat has lost strategic value for the company.
PdVSA lacks sufficient domestic storage and terminal capacity to compensate for a potential loss of access to Curaçao, although continued access to Bopec and NuStar’s St. Eustatius terminal would soften the political blow.
Meanwhile, the Dutch military has ordered more equipment and troops to be deployed in Curacao, in order to derail any upcoming civil revolution in the nearby future.
ABC Flash Point Oil News 2018.