WILLEMSTAD – Global Oil Management owes the people of Curaçao an explanation. After signing an agreement with Refineria di Kòrsou (RdK) and promising to begin exporting asphalt from the island, the company has instead focused its efforts on securing deals with local utilities, including Aqualectra.
Had it not been for the swift intervention of Aqualectra’s CFO Neysa Schoop, Global Oil could have ended up selling Curaçao’s utilities instead of producing asphalt. Now, concerns are mounting over why the state-owned Refineria di Kòrsou gave Global Oil preferential treatment over competitors like Oryx Midstream, Aqualectra, and CUROIL.
A recently revealed letter from Patrick Newton suggests that Aqualectra had already invested over 34 million guilders in regular maintenance of machinery located at the Isla refinery site. Despite this, RdK representatives have remained silent on questions from local media about the ongoing dispute between RdK, Global Oil, and now Oryx, which only recently signed an agreement with RdK.
Ongoing Disputes and Calls for Government Action
In his letter to the Council of Ministers, Newton also confirmed that Oryx requires access to the same machinery. This revelation is significant, as neither the Curaçao government nor RdK has publicly addressed Oryx’s involvement or provided details of the agreement. The letter further suggests that Oryx has also been given preferential access to Aqualectra’s gas turbines.
Aqualectra has urged the Curaçao government to intervene and ensure a resolution is reached by 2025, regardless of which entity—CRU, RdK, Global Oil, or Oryx—operates the gas turbines. Meanwhile, it has come to light that RdK has also prioritized Oryx for access to Aqualectra’s gas turbine facilities, according to a letter signed by RdK director Patrick Newton. The use of the Dutch word “ook” (meaning “also”) in the letter suggests that multiple companies may have been granted such preferential treatment.
Risk of Electricity Shortages
Had an agreement between RdK/CRU and Global Oil Management been enforced, Aqualectra might have been forced to implement electricity rationing every two hours across Curaçao between 2024 and 2025. This issue stems from a dispute over state-owned gas turbines, which Aqualectra relies on to maintain electricity supply during high-temperature periods. However, RdK has refused to make the turbines available to Aqualectra, as they are now part of an agreement with Global Oil Management.
A Lack of Transparency and Unfulfilled Promises
Despite reaching a resolution, the details of the deal remain undisclosed to the people of Curaçao. The occupation of Isla refinery land by Global Oil is now under scrutiny. Originally, a process was supposed to begin in 2024 to import crude oil from Venezuela for asphalt production in Curaçao. However, to date, none of these promises have materialized, raising further doubts about the company’s true intentions and the government’s handling of the situation.
With mounting concerns over the transparency of these agreements, citizens and industry stakeholders are calling for urgent government action to clarify the status of Curaçao’s energy and refinery operations.
