Word in the energy sector this week is that REFIDOMSA has been bought buy by Venezuela`s PEDEVESA. Amidst Mr. Chavez hilarious Bush/Devil comparisons at the UN and Bostonians threatening to take down the CITGO sign (a Venezuelan subsidiary of PEDEVESA and the sign a Boston Landmark), Mr. Chavez seems to be stretching his presence over Bolivia and Cuba.
It has been know for a while that the REFINERY was up for grabs as Shell is retreating from these markets, but no clear intention was made public. Things seem a bit clearer now, it seems to me that the supposed accords of Chavez`s Petrocaribe included the Dominican Refinery and the Government kept its mouth shut to avoid people looking into profitability (or probably, lack there of) of the venture.
It has been know for a while that the REFINERY was up for grabs as Shell is retreating from these markets, but no clear intention was made public. Things seem a bit clearer now, it seems to me that the supposed accords of Chavez`s Petrocaribe included the Dominican Refinery and the Government kept its mouth shut to avoid people looking into profitability (or probably, lack there of) of the venture.