Venezuela Said to Consider Aruba Refinery to Upgrade Heavy Oil

  • PDVSA subsidiary Citgo in talks with Aruba government
  • Lease accord with island nation is expected by end of March

Venezuela’s state oil company Petroleos de Venezuela SA is said to be looking into leasing the Aruba refinery, where it would ship tar-like oil to be upgraded into higher value synthetic crude rather than produce fuels like gasoline.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.