Curacao plans to auction May 28 hundreds of thousands of barrels of crude oil and refined products formerly owned by PDVSA due to the Venezuelan state-owned company s failure to pay the island s government back rent and interest for its storage.
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According to a government notice published in local media, 864,793 barrels of crude, bitumen, fuel oil and other products, including components to make gasoline and naphtha, stored in Korsou Refinery s Bullenbay terminal are to be auctioned.
PDVSA operated the Curacao refinery, known as the Isla Refinery, from 1985 to 2019 under a rental agreement with the owner, the Dutch Caribbean autonomous government of Curacao. The refinery has been shut down since 2018, according to previous reports.