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CPR falls behind on its payments for the use of the Bullenbaai facilities

Main news | By Correspondent May 9, 2023

WILLEMSTAD - The financial situation of the Caribbean Petroleum Refinery (CPR), the former preferred bidder, has taken a concerning turn as it falls behind on its payments. This issue directly affects the government-owned company Curaçao Refinery (RdK), which is not receiving the expected rent for the storage tanks located at Bullenbaai. These tanks currently hold approximately 48,000 barrels of oil, which belong to a client based in Panama. 

 

The failure of CPR to fulfill its payment obligations has sparked unease among several Members of Parliament. They are once again questioning the reliability and trustworthiness of the Luis Giusti group, which is associated with CPR. This latest development only adds to the existing doubts surrounding the group's capabilities. 

 

It is worth noting that CPR was initially selected as the company to take over the refinery. However, due to suspicions of forgery and other irregularities, the negotiations for the refinery takeover were abruptly halted. These allegations cast doubt on the integrity and transparency of CPR and its associated entities. 

 

The situation regarding the outstanding payments and the uncertainty surrounding CPR's financial standing raise concerns about the stability of its operations. The government and relevant authorities will likely monitor the situation closely to ensure that appropriate measures are taken to address the financial shortcomings and protect the interests of all stakeholders involved. 

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