WILLEMSTAD - The company I&E Petroleum Group located on Seru Loraweg purchased the oil from Caribbean Petroleum Refinery (CPR) stored in tank 9099 at Bullenbaai at yesterday's auction.
This transaction involves nearly half a million barrels of fuel oil at just under 29 million dollars.
Curaçao Refinery Utilities/Refineria di Kòrsou offered the oil for sale to recover the eight million dollars owed by CRU for the oil storage in the Bullenbaai tanks. The total value of this oil is approximately 25 million dollars.
If CRU/RdK accepts the bid, I&E Petroleum will become the owner of the oil. If payment is not received by this afternoon, the deal will go to the second-highest bidder, a Dutch group.
According to the I&E Petroleum Group website, the company was founded by a group of individuals with a common desire to build relationships and facilitate opportunities in the commodities sector.
Photo credit: Extra