WILLEMSTAD – Refineria di Kòrsou (RdK) provides an explanation, in light of recent ironic publications about its agreement with Caribbean Petroleum Refinery (CPR), regarding the storage of petroleum products in the storage terminal of its subsidiary Curaçao Refinery Utilities (CRU) in Bullenbaai.
CRU has long been looking for parties who want to store their petroleum products in the storage terminal at Bullenbaai. In this way, income is generated that covers the costs of the facility. RdK and CRU always do due diligence to determine exactly who a customer is before signing an agreement. This was also the case for CPR.
CRU inquired with CPR whether the products had been sanctioned by the United States before entering into a storage agreement. CPR indicated in writing that this was not the case. When contradictory publications circulated, CRU requested an independent legal opinion. Based on a legal opinion from a US law firm, it turned out that there was no violation of US sanctions.
Both RdK and CRU had not been involved in the purchase of these petroleum products through PDVSA or Venezuela, nor in the purchase or transaction related to the transportation of these products. RdK and CRU will also not be involved in any sale and resale of these products.
It is important to emphasize that the process between RdK and CPR to find a new operator for the refinery and Bullenbaai terminal is still proceeding in a transparent and thoughtful manner, with the ultimate goal of reaching a Heads of Agreement as soon as possible.