Curacao sells Venezuelan asphalt batch

Curacao's state-owned RdK released a batch of asphalt-quality bitumen in the first sale of inventory left behind by Venezuela's state-owned PdV.

The 73,000 tons of AC-30 bitumen loaded yesterday aboard the Hong Kong-flagged Da Ming Shan asphalt tanker, which ship-tracking services indicate is currently in Willemstad.

RdK did not identify the buyer or the value of the transaction. The vessel is currently on a time-charter contract with trading firm Gunvor.

RdK told Argus it expects to earn 60mn Curacao and Sint Maarten guilders ($33.5mn) from the sale of the varied inventory.

"Proceeds generated by the sale of all the products will be used to invest to guarantee the long-term sustainable future of the company," RdK said.

PdV had operated Curacao's 335,000 b/d Isla refinery and Bullen Bay terminal under a long-term lease that expired in December 2019. The Dutch-controlled Caribbean island's long efforts to find a new refinery operator have so far come up dry.

RdK is currently in the process of closing its money-losing refinery utilities subsidiary CRU as of 30 September.

PdV has been the target of US oil sanctions since January 2019.

By Patricia Garip