PDVSA agrees to resume commercial relations with Curaçao refinery

"The agreement establishes the general conditions for the restoration of commercial and financial operations between the state-owned oil companies, including considering the possibility of storing Venezuela's oil in facilities on the Caribbean island."

"The agreement will have a favorable impact on the economies of both countries as it relates to the reactivation of the old ISLA refinery with a processing capacity of 335,000 barrels per day," the statement reads.

It is anticipated that the deal will normalize ties between the firms, settle all obligations-related disputes, and open the door for PDVSA and Curaçao to collaborate economically and strategically as well as to create new jobs on the island.

source: reuters.com