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Venezuela drops out of deal to buy Refidomsa
posted on: Jan 22 2010 9:31 by The Reporter. Viewed 1393 times.
The Venezuelan Government has pulled out of negotiations to buy 49 per cent of the Dominican Government-owned Oil Refinery (REFIDOMSA) for 131.5 million dollars.
Venezuela's state-owned oil giant PDVSA were originally touted to finalise the deal in November 2009, but four postponements later and the deal is off.
"We will not participate in the acquisition of the refinery in Santo Domingo, the Venezuelan Energy Minister Rafael Ramirez outlined to the EFE news agency. No involvement. It seems inappropriate and we will not do it."
Ramirez's announcement comes just a fortnight after the Dominican Treasury Secretary, Vicente Bengoa said the country hoped to finalize in January, the sale of the shares in the refinery that processes 34,000 barrels per day of crude oil.
Bengoa said on January 6 in Santo Domingo that if Ramirez could not travel to the Dominican Republic for this, then he would travel to Caracas button up the matter.
Eight days into January 2010 the Dominican government still has no precise date of signing the contract with PDVSA.
On Wednesday, 7 August, Bengoa said it would send a communication to the Venezuelans to see if the final signature could be made.
He stressed the importance of finalizing the matter, "because it seems that there is something strange, and people love to speculate."
At first, Hugo Chavez and his Dominican counterpart, Leonel Fernndez, had planned to sign the agreement on June 30 2009 in Santo Domingo, but was prevented by the political crisis in Honduras with the coup that ousted Manuel Zelaya, then a close ally of the Venezuelan leader.
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