WILLEMSTAD – Curaçao Refinery Utilities (CRU) is heading toward a reorganization as the transition away from traditional refinery operations creates a mismatch between its existing workforce and the jobs expected under the new service-oriented business model, according to the government's June 2026 Financial Management Report.
The report provides one of the clearest official warnings so far about the employment consequences of the changing strategy for the former refinery.
2BAYS has shifted its focus from finding an operator to restart oil and gas production toward terminal, storage, logistics and other service activities. Potential investors have shown considerably more interest in Bullenbaai than in restarting the Emmastad refinery.
That transition has consequences for CRU employees.
The government says there is a “more than reasonable chance” that the existing labor potential within CRU will not fully match the competencies required for new jobs created by the service-based operation. There is also a timing problem: the moment at which new jobs become available may not coincide with when the existing workforce needs employment.
The report consequently concludes that a reorganization will be necessary in the coming period to manage the transition responsibly.
No details are provided on how many employees could be affected, whether jobs will be eliminated, or whether workers will be offered retraining or reassignment.
The warning is significant because personnel costs have already contributed to pressure on 2BAYS' liquidity. According to the report, workers were maintained while authorities searched for a new refinery operator because they were expected to be needed for a possible restart.
The industrial strategy has since changed.
There are signs that alternative activities are beginning to emerge. A joint venture involving local parties started ship-repair operations at Emmastad during the second quarter of 2026 for vessels weighing up to 400 tons. 2BAYS is also offering ship-to-ship transfer and lay-up services, areas where the report says demand is increasing.
2BAYS and CRU are additionally exploring commercial opportunities with specialized international and local companies for supporting activities and services.
Whether those new activities can eventually generate enough jobs to absorb a significant portion of CRU's existing workforce remains unanswered in the report.