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27th of April 2017
   
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Oil Refining

Since the late 1920’s, petroleum refining has been a mayor economic activity on Aruba. A subsidiary of Exxon Corporation (Lago Oil and Transport Co.) started operation of a large refinery, processing mainly crude oil from Venezuela and selling most of the refined products to the United States of America. Developments over years in market conditions and company goals have conducted to changes in the refinery operation. Currently the refinery is being operated by Valero Corporation. Valero Energy Corporation announced September 2012, that it will convert the oil refinery of Aruba into a fuel transshipment facility. Valero suspended refining operations in March 2012 at the refinery, which processed heavy, sour crude and has a capacity of 275,000 barrels a day. It said it stopped producing gasoline and other fuels at the site due to high oil prices and unfavorable refinery economics. Valero says the company is still ready to restart if a buyer can be found. http://www.valero.com/OurBusiness/OurLocations/Refineries/Pages/Aruba.aspx