Aruba refinery puts refurbishment on hold due to Venezuela sanctions
2/18/2019 11:34:21 AM
(Reuters) - The 209,000-barrel-per-day Aruba refinery, operated by a unit of U.S. Citgo Petroleum, is putting a $685 million refurbishing project on hold due to sanctions imposed by the United States on Venezuela, the company said.
Citgo is owned by Venezuelan state oil company PDVSA.
Works for modernizing and converting the refinery into an oil upgrader, approved in 2016, will likely be halted by Feb. 27 and workers directly involved laid off, Citgo Aruba said in a statement.
The facility’s management and the island’s government plan to continue seeking solutions to avoid having to completely halt the project, it said. (Reporting by Sailu Urribarri, writing by Marianna Parraga)
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