WILLEMSTAD – PAR parliamentary leader Quincy Girigorie is calling on Prime Minister Gilmar Pisas to immediately bring Curoil and 2Bays together to develop a joint investment strategy for Bullenbaai and Emmastad, arguing that cooperation between the two government-owned companies could provide Curaçao with the capital and expertise needed to expand bunkering and fuel-blending operations.
Girigorie said the two companies have complementary strengths that could be combined instead of allowing them to compete in the same market.
According to PAR, Curoil has financial resources as well as extensive experience and expertise in the bunkering business, while 2Bays and Curaçao Refinery Utilities (CRU) have large storage facilities and experience with fuel blending.
Girigorie described that combination as a potentially strong foundation for a locally controlled petroleum and fuel-storage strategy.
The PAR leader pointed to a proposal he said Curoil made to the government in 2023 to invest millions in Bullenbaai and Emmastad and develop bunkering and blending activities together with RdK.
According to Girigorie, the proposal was rejected by the Pisas government, which subsequently pursued another arrangement involving Oryx.
PAR says Curoil subsequently turned its attention to Bonaire, where it acquired the former BOPEC storage terminal and plans substantial investment in the facilities.
Girigorie argues that this has created an unusual situation in which Curaçao ultimately controls two companies that could compete against each other for bunkering and blending business in the region rather than combining their resources.
The issue has become more urgent because much of Bullenbaai's storage capacity reportedly requires investment before it can return to service.
Girigorie referred to information provided by Prime Minister Pisas indicating that only approximately 25 percent of Bullenbaai's capacity is currently operational and that repairing individual storage tanks could cost around ANG 5 million.
PAR argues that Curoil's financial capacity could therefore complement the infrastructure and technical knowledge available through 2Bays and CRU.
Girigorie is calling on Pisas, in his role representing the government as shareholder, to convene the management of Curoil and 2Bays as early as this week.
The objective, according to PAR, should be to formulate and execute a coordinated petroleum strategy in which local public companies invest together and keep a larger share of the economic benefits in Curaçao.
“Work together and invest together so Curaçao and its people can move forward,” Girigorie said in describing the approach the government should take.
PAR maintains that it is not too late to pursue such cooperation, despite what the opposition party considers costly strategic mistakes during the government's previous attempts to find operators for the former refinery.
The claims regarding Curoil's previous proposal, the government's reasons for rejecting it and the characterization of earlier refinery negotiations were made by Girigorie in PAR's statement.