WILLEMSTAD – The future of the Curaçao Isla Refinery remains uncertain, despite the government's plans to continue its operation. The Ministry of Finance has raised concerns about financial difficulties that could jeopardize the refinery’s viability. 

As of December 2024, the Qatari company Oryx took over the terminal at Bullenbaai, with plans for the acquisition of the refinery in Emmastad scheduled for March 2025. However, financial and operational uncertainties, including payment arrears from eBays/RdK and delays in production plans, are hindering progress. 

The Ministry of Finance has rated the risk of financial issues at the Isla refinery as high, assigning it a score of 4 out of 5. There is a significant risk of default, which could have serious budgetary consequences. 

The government is hopeful for financial support from Europe, but concrete solutions have yet to materialize. Additionally, other economic factors, along with the aftermath of the refinery’s closure during the COVID-19 pandemic, play a significant role in the current uncertainty surrounding the facility’s future.