PDVSA risks losing licence to operate oil storage facility on Caribbean island

PDVSA risks losing licence to operate oil storage facility on Caribbean island

Venezuela’s troubled state oil firm PDVSA could lose its licence to operate an oil storage terminal on the Dutch Caribbean island of Bonaire because it lacks funds for the cost of maintenance work at the facility, according to Reuters.

Cash-strapped PDVSA, properly named Petroleos de Venezuela SA, controls the biggest oil reserves in the world, many of them offshore. But it has been struggling mightily after being hamstrung by oil’s price plunge and alleged mismanagement and corruption.

On Bonaire, in the Leeward Antilles, PDVSA owns the Bonaire Petroleum Corp (BOPEC) terminal, a vital asset with 10 million barrels of storage capacity and deep-water docks.

Netherlands authorities have demanded a number of safety enhancements at the terminal by 5, January 2018. Only five of the 21 tanks are operating now and all will cease if the ultimatum is not met.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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1 Comment

  1. Ivana Cardinale
    December 21, 2017 at 2:01 pm

    And it got trapped on its own? Ah? Why this article does not have the truth? ah? Why is no where in the article the economic war, blockade and sanctions from the pathetic Trump administration, Canada and the EU against the people of Venezuela? Do you know that just Euroclear has almost 2 billion dollars from Venezuela frozen? And this is just one small example. So, according to Donald Scully, is Maduro’s fault, not the economic war, blockade and sanctions against Venezuela by the powers that be, desperate to put their dirty hands on the oil of MY COUNTRY!!! Get busy Scully. Go and do some fishing. You aren’t a journalist at all!!! You are just writing for the one that pays you!