Curaçao refinery reopens with an eye on Venezuelan oil

The Curaçao refinery reopened after five years of closure, with the expectation of receiving Venezuelan oil following a relaxation of U.S. sanctions against Caracas, whichcould be reversed within two weeks.

Patrick Newton, director of the Korsou Refinery said "There is an opportunity for us to catch back the market because there is scarcity of products here. We used to produce it regionally, and that's not the case anymore. So we can step in that pitch in that opportunity to start producing again for the Caribbean region and Central America, our core markets."

With the Venezuelan coast about 100 km away, the Caribbean country's heavy crude oil has traditionally been vital for this refinery, which was also operated for more than 30 years by the state-owned “Petróleos de Venezuela”.