⁍ Venezuela’s oil company PDVSA rented Bullenbay and the 355,000-barrel-per-day Curacao refinery through a long-term contract that expired in December.
⁍ Since then, PDVSA has been removing its oil inventories out of the facility.
⁍ RdK is simultaneously trying to find a long-term operator for the refinery and the neighboring Bullenbay terminal.
– A deal to store more than 5 million barrels of oil at a terminal on the Caribbean island of Curacao fell through this week, Reuters reports. The deal between Curacao Refinery Utilities and Drilling E&P to lease the storage space at the Bullenbay terminal fell through because other companies were willing to pay lower rates than CRU was expecting. CRU is an affiliate of the Curacao state-run refinery. Venezuela’s oil company has been renting the terminal from CRU since December, when its long-term contract expired. Since then, CRU has been trying to find a long-term operator for the refinery and the neighboring Bullenbay terminal, a process it has dubbed the Arawak Project. Rdk did not immediately reply to a request for comment.
Source: https://www.reuters.com/article/us-oil-curacao-terminal/deal-with-sps-to-lease-oil-tanks-in-curacao-falls-through-due-to-low-offers-idUSKBN27E39E