Exclusive: Citgo asks PDVSA for $100 million to restore Aruba refinery

September 20, 2016 3:58 PM

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Exclusive: Citgo asks PDVSA for $100 million to restore Aruba refinery

HOUSTON Citgo Petroleum, aiming to start a $685 million renovation project to revive Aruba's idled refinery, has asked its cash-strapped parent company PDVSA to provide initial funding of $100 million, according to an internal document seen by Reuters.

The U.S.-based refining firm in June received approval from Aruba's government to refurbish, restart and operate the 235,000-barrel-per day idled refinery and an attached terminal under a 25-year lease contract.

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