Refinery and terminal transferred to Aruba

Dit item is gearchiveerd op 02-04-2020.

ORANJESTAD - On Friday, February 28, 2020, the Refinery of Aruba (RDA) and CITGO signed the transfer agreement that will now put the operations of the terminal and refinery into the hands of RDA.

The official transfer took place on 29 of February 2020. 

The signing of the transfer agreement between RDA and Gitco that will now put the operations of the terminal and refinery into the hands of RDA.This is the first step in the termination process of the agreements between CITGO, RDA and the Aruba Government. The termination of the agreements was inevitable once it became obvious that the CITGO was no longer able to comply with its obligations due to the sanctions imposed by the US Governments. The Government of Aruba will soon present a law concept to the parliament where they will discuss the termination of the agreements. 

After the presentation in Parliament, they will initiate the process of finding a new operator for both the terminal and the refinery.

The signing of the transfer agreement between RDA and Gitco that will now put the operations of the terminal and refinery into the hands of RDA.For the very first time in history, Aruba, through the RDA and the Energy Terminal of Aruba (TDEA), both state-owned companies, will temporarily operate the transshipment terminal. The RDA/TDEA will be responsible for the maintenance of the refinery while the Government seeks new investors/operators. 

The Government of Aruba immediately informed the Parliament after completion of the transfer and had a press briefing at the refinery‚Äôs gate. 

The transfer was done on a low key since it was not the termination of the agreement yet. The termination is official with the approval of the Parliament.

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