I wrote two positive articles about RDA in January; things looked up when a consortium formed by France’s Technip and Venezuela’s Tecnoconsult and Y&V Group was picked to refurbish the refinery. Technip was a serious partner and remember they said they were willing to finance the $700 million project, which could take up to 18 months, IF when done they could pay themselves, let’s say $800 million, why not, they made the investment, took the risk, they should be allowed to make some money on it.
So I wrote some positive articles, Yuppie, we’re gonna have a 225,000-barrel per day refinery, someone in the region must help Venezuela dilute its heavy, sticky crude oil, in order to formulate exportable crude blends. If they manage to improve the quality of the product, and fetch $10 dollars MORE per barrel, per day, that’s a huge income. Why not Aruba, right?
Not so fast, cowboy. Apparently the French changed their mind because the deal was too risky, the collateral belongs to RDA not to CITGO Petroleum, so the deal fell through, the French walked away, and so far no one else showed up to take their place.
So what’s happening at RDA right now? Nothing.
This week we were treated to a picture opportunity as so called 100 badges were handed out at the Lab Building to so-called 100 workers of four so-called major contractors entrusted with the rehabilitation of the refinery.
Which is a partial fabrication! There are presently some people working at RDA but their work has to do with safety, not rehabilitation. The maintenance people are just making sure the area is safe for the estimators, charged with estimating, the scope of work, and the size of the investment required.
At the moment, they have no clue if $600 or $700 million are required to resurrect RDA, idle since 2012 when it was shut by the previous operator, U.S. Valero Energy.
Guestimating how much money would be required is a difficult task, and until they know how much they will be asked to spend, CITGO senior management is afraid to pull the trigger.
And don’t believe anything else anyone tells you.
You should also know that, PDV MANTENIMIENTO N.V., is bringing in Venezuelans to work in the refinery rather than hiring good, experienced Arubans who are standing outside the gates ready, willing and able to go to work.
PMEC PROJECT MANAGEMENT AND ENGINEERING CONSULTANCY N.V., a company reportedly belonging to Mike De Mesa has also hired Venezuelans to work in the refinery rather than hiring the experienced Arubans.
And don’t believe anything else anyone tells you.
PMEC PROJECT MANAGEMENT AND ENGINEERING CONSULTANCY
Business name: PMEC PROJECT MANAGEMENT AND ENGINEERING CONSULTANCY N.V.
KvK nr: 37367.0
Business Address: AMSTERDAMSTRAAT 33, SAN NICOLAS NOORD
PDV MANTENIMIENTO
Business name: PDV MANTENIMIENTO N.V.
KvK nr: 45539.0
Business Address: L.G. SMITH BLVD. 62, SUITE 301, ORANJESTAD WEST
