CITGO Slows Refinery Project

CITGO Slows Refinery Project

In 2016 CITGO launched the San Nicolas refinery refurbishment project with a firm vision and steadfast commitment to work with the Aruban government to bring jobs in the local economy, increase economic activity and contribute to energy security in the region. While CITGO remains committed to the project, the U.S Government imposed sanctions related to shareholder Petroleos de Venezuela (PDVSA) which doesn’t allow additional funding for the rehabilitation of the refinery.

CITGO has been actively working since August 2017 to obtain relief from these sanctions, but since relief has yet to be granted we must slow down the project immediately. “We understand the hardship this situation has caused for employees and the people of Aruba. We continue to actively work on a solution and hope to resume the full project in the near future…”

Aruba is caught in the middle of an impasse between the US and Venezuela government. And about 300 employees were already forced to go home. The government is revising the contract with CITGO for possible breaches and claims. According to the prime minister, the executives from CITGO will be on the island to discuss the situation, and a possible reconsideration to slow down the refurbishment of the refinery.

News Courtesy of Angelo Limon of Vacations By Aruba




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