Aruba premier expects agreement with PetroChina soon, ANP says

HONG KONG (Bloomberg) -- Aruban Prime Minister Nelson Oduber expects to be able to agree soon with PetroChina Co. about the sale of a Valero Energy Corp. refinery on the island, Dutch news agency ANP reported, citing the politician.

The refinery is strategically placed “well in the market” given the $16 billion oil exploration agreement between China and Venezuela earlier this month, the Dutch-language agency cited Oduber as saying in a report dated Sept. 20. Talks are under way, he said, according to ANP.

Aruba is in the southern Caribbean sea, north of Venezuela. San Antonio-based Valero, which acquired the plant in 2004, said last month the Aruba refinery will probably remain idled as fuel demand slumps. In July, Valero said it was in continuing talks with PetroChina over the sale of the facility.

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