News reports suggest that the Dominican authorities at the Dominican Petroleum Refinery (Refidomsa PDV), where the Venezuela state-owned PDVSA has 49% stake, would be interested in purchasing back the shares from PDV Caribe, the Venezuelan subsidiary. Similar negotiations are happening in Jamaica.
PDV Caribe has reportedly yet to agree to sell its stake and, “if the Venezuelan company doesn’t agree to the sale, the Dominican state would be forced into litigation declaring the country’s only refinery eminent domain and a matter of national security”, Refidomsa PDV CEO Felix Jiménez is reported to have said.
Jimenez reportedly does not expect the process – initiated last December – to be affected by Santo Domingo’s decision not to recognize the legitimacy of Venezuela president Nicolas Maduro.
It is a similar situation to what is happening in Kingston, Jamaica which also did not recognize the legitimacy of Maduro’s second term as president.
Last week, Jamaica’s Foreign Affairs and Foreign Trade Minister, Kamina Johnson Smith announced that the government will be moving to enact legislation to allow it to take ownership of the 49 per cent stake in Petrojam that is held by Venezuelan state-owned oil company, PDVSA, through PDV Caribe.
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El Nacional
Loop Jamaica
17 January 2019
