By OGJ editors
HOUSTON, June 8 – Valery Energy Corp. is moving toward restarting the 235,000-b/d refinery in Aruba that it idled in July 2009 because of poor economics.
The company said it will begin a 90-day turnaround in the next few weeks “with the aim of potentially restarting the refinery later this year unless economic conditions deteriorate.”
Workers have remained on the payroll since the refinery suspended operations and while Valero considered options for the facility.
“Those considerations will continue, but economic conditions have improved to the point where restarting and operating the refinery is possible,” the company said. It said a recent tax settlement agreement with the Aruba government provided it “visibility” about future taxes that it needed for a decision.
Photo from SABIC Limburg BV.
Photo from Petróleo Brasileiro SA (Petrobras).
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