WILLEMSTAD – Prime Minister Gilmar Pisas has confirmed that discussions are ongoing with PDVSA about a potential return to operate the refinery in Curaçao, signaling a possible shift in the island’s energy strategy.
The talks, which are still in an early stage, revolve around whether PDVSA could resume operations at the Isla refinery, which has been largely inactive since 2019 following disputes and the impact of international sanctions.
According to Pisas, discussions have been taking place in recent months, but no final agreement has been reached. The Venezuelan state oil company has indicated that it would need approximately one year to prepare before it could begin the process of retaking refinery operations.
The prime minister emphasized that, unlike in 2021 when he first returned to office and pushed for a rapid restart of the refinery, the government is now taking a more cautious approach. “We are not in a hurry,” Pisas indicated, stressing that progress in negotiations is more important than speed.
The refinery, once a key pillar of Curaçao’s economy, has been the subject of multiple revival attempts over the years. Governments have sought to restart operations to generate employment and reposition the island as an energy hub in the region.
Pisas also highlighted that Curaçao has maintained open lines of communication with Venezuela throughout its political and economic crisis. He described the relationship as stable and said the island has consistently sought to preserve good ties with its South American neighbor.
At the same time, geopolitical factors remain a major consideration. U.S. sanctions on Venezuela, particularly targeting the oil sector, have long complicated any direct cooperation with PDVSA. However, recent developments indicate a gradual easing of restrictions, with new licenses allowing certain transactions involving Venezuelan oil under specific conditions.
Pisas acknowledged that sanctions remain an issue but expressed optimism, stating that he sees “light at the end of the tunnel.”
The prime minister also signaled his willingness to travel to Venezuela to advance negotiations but said Curaçao will wait until PDVSA is ready to proceed.
The potential return of PDVSA would mark a significant development for Curaçao’s refinery sector, which has been searching for a sustainable operator for years. Whether the talks will lead to a concrete agreement remains uncertain, but the discussions underscore renewed interest in restoring the island’s role in regional oil processing.