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Citgo Presents a Positive Plan for the Refurbishment Project of the Aruba Refinery

RdA NV has gathered with Citgo for clarification on the current refinery activities.
Last Wednesday, the director of RdA Mr. Koolman, accompanied by the RdA supervisory board, industry experts and the RdA management team, together with Citgo Petroleum and Citgo Aruba gathered for a clarification of the ongoing process in connection with the reopening of the refinery in Aruba. The announcement of the “slow down” in February left the local community with a lot of questions, which is also due to the manner in which the project has been handled with regards to the reopening of the refinery in San Nicolas. Simultaneously, the sanctions that the United States is imposing, produces additional challenges for Citgo to realize this project. Refineria di Aruba NV has and is however closely monitoring Citgo’s developments.
In this light, an official meeting was organized in order for all the necessary entities to be informed of the current status regarding Citgo Aruba. The anticipated meeting was conducted in a very professional way, where it was openly reiterated that the reopening of the refinery in Aruba is of high importance for all parties. Citgo demonstrated a determination to continue with the plan to convert the refinery in to an “Upgrader” as stipulated in all the agreements. Citgo has thereby chosen to continue to develop a total plan based on a new strategy. As part of its team of experts—RdA, indicated to have ample knowledge of the operation of a refinery, but more specifically of the refinery in Aruba and its full history.
RdA has openly offered Citgo to act as counselor providing an additional support to the planning, to ensure that the goal is properly met. This might also accelerate the process, since it is the same entity that has to control the projects to see if these are
completed based on the agreements made and according to the contracts that we re signed. All the entities involved are determined to work together on this project with a common goal, and it is proven to have beneficial effects for Aruba. The team still has technical details that need clarification, and RdA will remain in contact with the executives from Citgo. Mr. Koolman further explains, “We will continue with informational meetings every month to maintain an open channel of communication. In this light, erroneous speculation can be prevented with regards to the Citgo Aruba project. All entities are now aligned and will jointly work to demonstrate this.”
After the meeting, one could notice the positive environment needed to create a union between Citgo, RdA and the government of Aruba to ensure the achievement and concretization of the refinery project in Aruba.

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