Shell Company has set conditions for paying profits generated by petroleum sales for the years 2003 and 2004 to the government paying its debt for subsidies on propane gas, according to a letter to the press written by Rafael Mandariaga, general manager.
The Dominican Petroleum Refinery (Refidomsa), a joint venture between the state and Shell company. As reported in Clave Digital, decisions made within the company has taken “in consensus” with the representatives of the Dominican government. The report mentioned that pending are RD$1.29 billion, to be distributed among Shell’s private investors and the Dominican Republic.
Last Tuesday, the president of Refidomsa, and representative of the Dominican government in the joint venture, Aristides Fernandez Zucco accused Shell of retaining RD$227 million in dividens from 1990, that were not paid until just three months ago. He said that the interest accrued by those dividends were not paid and will not be able to be recovered as the period for this has expired. He said that this had cost the state RD$312 million.