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Valero Still Closed

Topic: Energy

After temporarily closing down its facilities in St. Nicolas, Valero Refinery Aruba still is seeking buyer for the aging facility. Several parties have shown interest but couldn’t reach an agreement.

Another difficult point is the island government. Any party interested in acquiring the refinery needs to meet certain demands, specifically fiscally, environmentally and labor.

Oil prices continue to go up. Last month’s figures show an increase in demand from China. Oil storage companies are doing big business with the speculation. The oil business seems to be picking up. One could even say that the margin are getting better, right.

Do you remember the official reason for shutting down Valero Aruba? Poor profit margins. Despite the recent hikes in oil prices the refinery remains shut. Previously I’ve declared that Valero is history in Aruba, thus far I’m right.

January 11th, 2010 Read more » valero