Troubled oil company shuts Aruban refinery

14th June 2009, Comments 0 comments

Oil refinery Valero on the Dutch island of Aruba is to close down for three months at the end of June.

Aruba - Oil refinery Valero on the Dutch island of Aruba is to close down for three months at the end of June. The troubled company says it needs the time to study its operational management. The 2000 employees will stay on the payroll.
 
Valero has been facing financial problems for some time, and the economic crisis has only worsened matters. The firm may also lose its sales tax privileges, which would put an extra drain on its coffers amounting to millions of euros.
 
The Valero refinery on Aruba has been up for sale for the past year due to the financial difficulties, but a buyer has yet to be found

Radio Netherlands / Expatica

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