Vicente Bengoa, PDVS general manager Amílcar Mata.
Santo Domingo. - The Dominican Government last night closed the negotiation for the sale of 49% of the shares in the country’s only refinery, Refidomsa, to Venezuela’s state-owned oil conglomerate PDVSA, for US$131.5 million.
The deal’s signing ceremony is planned in the country for early November, between Dominican Hacienda minister Vicente Bengoa, and PDVSA executive vice president Asdrúbal Chávez.
In a press conference after a meeting between the managers of both companies, Bengoa said a draft of the sale document is still pending, as well as the details on the refinery’s management and terms of payment by Caracas.
He said the sale of a 49% stake in the Refinery will benefit the country given Venezuela’s knowledge of the oil business and in his view lead to Refidomsa’s increased sales and production, including additional products.
From: United States
The Venezuelan government under Hugo Chavez has had his refineing process reduced by about 47% due to ineficiencies and corruption by its government over the last 10 years.
I understand that this should fit very nicely with Leonels government and attitudes towards production quotas and legalized corruption.
Written by: molloy, 30 Oct 2009 8:26 AM
From: United States
There goes the neighborhood. Is Ass Dribble Chavez realated to Huge O?
From: United States, Faber College Double Secret Probation
Charge them double and give them nothing
Written by: juanb, 30 Oct 2009 8:42 AM
From: Dominican Republic
Lie down with dogs, wake up with fleas.
Written by: abc200, 30 Oct 2009 9:14 AM
From: United Kingdom
Good news! Much potential here!
S.
From: United States, Faber College Double Secret Probation
potential for disaster ............Charge them double and give them nothing you moron
Written by: Cacique, 30 Oct 2009 9:39 AM
From: Dominican Republic
Now now critics, dominicans aint about to bite the proverbial hand....
Written by: abc200, 30 Oct 2009 9:41 AM
From: United Kingdom
DR gasoline will be highly sought after as supplies dry up........ Closer ties with ALBA are a good move. US gasoline supplies could be knocked out through global warming......
S.
From: United States, Faber College Double Secret Probation
you should be knocked out ....................Charge them double and give them nothing.
Written by: xwill7, 30 Oct 2009 9:55 AM
From: United States, Chicago
abc,
how does global warming dry out petro??? lol
From: United States
I don't know what to think just yet. Hope this works out well for us but something tells me it won't. Always worth having some hope though.
Written by: abc200, 30 Oct 2009 10:13 AM
From: United Kingdom
Written by: yowzerDR, 30 Oct 2009 11:07 AM
From: Dominican Republic
The Government has to do something right once in awhile, and I think this could be the economic link DR needs to thrive and change for the future when a new government raises :)
What if we let our dreams die, then there would be no hope!
From: United States, Faber College Double Secret Probation
another loser ..............charge them double give them nothing
Written by: xwill7, 30 Oct 2009 11:45 AM
From: United States, Chicago
abc, there are more reserves and a ton of unfound petro all over the US/Alaska. Also,
the hybrids will be in demand as soon as more cars are developed and the prices go down
Written by: abc200, 30 Oct 2009 12:30 PM
From: United Kingdom
From: United States, Faber College Double Secret Probation
Poseur imbecile
From: United States
Blitarsky. Are you even Dominican? Why do you come to a Dominican site and put forth such an effort to spur hate? I've been on this site for an year and I've noticed I am the only one that pays attention to your wanna-be slick jokes and rude antics. Do us a favor write your messages in real small font that way we might make an effort to read and comprehend your stupidity.
- A REAL DOMINICAN!!!!
Written by: xwill7, 30 Oct 2009 2:41 PM
From: United States, Chicago
blu,
bring out your baseball bat
From: United States, San Diego, CA - (Dei sitio)
This is a forced step, DR owns so much $$ to Venezuela...We have miserably sunk in Venezuela's oil sea... We have no other option but negotiate...49% stake was just to start.
From: United States, Faber College Double Secret Probation
xwill7 maybe it is poopi posting under another dumb Nom de plume JaJaJaJaJaJa they both have similar Dumb@ss styles
Written by: anthonyC, 30 Oct 2009 3:56 PM
From: United States
"He said the sale of a 49% stake in the Refinery will benefit the country given Venezuela’s knowledge of the oil business and in his view lead to Refidomsa’s increased sales and production, including additional products."
Really? Venezuela is going to teach them how to increase production? Have they ever even look at the news?
Venezuela's oil production has declined since Hugo and his cronies took it over.
From: United States
Mr leonel you made the right decision , the next step is to join south america union, together with all the caribbean island and central america and remenber unity is all power.
From: Dominican Republic, la Romana
anthonyC ..about a year or so ago I had some long discussions with some high ranking employees from an oil company in Venezuela who spelt out in much detail what happened when Chauvez took over the oil companies ...but apart from not payin the employees any of their entitlements he threw them all out immediately and replaced them with people who had no idea or experience in operating or managin gany refinery or oil plant ...he put security guards and janiters in positions in which they had not 5 minutes experience.
He really has destroyed his country and has been re elected solely by very small bribes to the poor uneducated people who support him in ignorance
From: United States, Fresh Water Paradise-NY Finger Lakes
Great, let's now concentrate on closing similar deal on METRO.
This would be attractive to pompous Chavez from publicity standpoint, yet beneficial to Dominicans by allowing them to unload this heavy financial burden.
Win/Win situation the way I see it.
From: United States, Fresh Water Paradise-NY Finger Lakes
Bluto,
Did you leave asylum's door open again?
The loco is on the loose once more.
S.
abc for president for life!
A compost heap and a solar-powered scooter in every home!
Vote for abc!
S.
From: United States
they got that refinery for cheap 131 million dollars thats it ? dont know what to make of this the only thing I see leonel fernandez and hugo chavez having a 6 9 sexual position
From: United States, Faber College Double Secret Probation
charge them double give them nothing
Written by: abc200, 31 Oct 2009 8:41 AM
From: United Kingdom
Now Venez tourists will be able to buy good gasoline more will come......
S.
From: United States, Faber College Double Secret Probation
what Venezuelan tourists ? they are defectors
Written by: Juango, 31 Oct 2009 9:42 AM
From: United States, far S. Florida (formerly Santo Domingo)
The REFIDOMSA aquisition will allow Chavez to funnel funds to his chosen leftist candidate in 2012. Has nothing to do with production of petro products. At 35k bpd production (total cap.) the refinary is insignificant in the big picture. Chavez knows that most Dominican's votes can be bought. The USA needs to open its eyes. Next you will see Venezuelan fighter jets at San Isidro, just like in Ecuador.
From: United States, Faber College Double Secret Probation
Josean is out opening the bank accounts as we speak ......the fifth columnist
Written by: abc200, 31 Oct 2009 10:51 AM
From: United Kingdom
Venez tourists are good and it will be a privilege to have the Venez air force to help protect the DR.
S.
From: United States, Faber College Double Secret Probation
you can forget about that target
Written by: dagtan, 31 Oct 2009 4:25 PM
From: United States
Chavez' sphere of influence grows by the day.
BTW, have any of you ever read about the orchestras of the world program in Venezuela
From: United States, Faber College Double Secret Probation
Dag what is more beautiful red roses on a grand piano or tulips on an organ ? ........inquiring minds want to know
Written by: dagtan, 31 Oct 2009 9:24 PM
From: United States
Blu, LOL. As you know we are often mislead by the facts we see, since we always try to make them seem as we want them to be and not as they are.
From: United States, Faber College Double Secret Probation
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I understand that this should fit very nicely with Leonels government and attitudes towards production quotas and legalized corruption.
S.
S.
how does global warming dry out petro??? lol
Just a few big storms and Venez/DR could make a killing.
good news - Venez could join Mercosur.
http://news.bbc.co.uk/2/hi/business/8333176.stm
S.
What if we let our dreams die, then there would be no hope!
the hybrids will be in demand as soon as more cars are developed and the prices go down
http://money.cnn.com/2005/08/30/news/economy/katrina_cost/index.htm
http://www.rancho-aqua-clara.netfirms.com/
S.
- A REAL DOMINICAN!!!!
bring out your baseball bat
Really? Venezuela is going to teach them how to increase production? Have they ever even look at the news?
Venezuela's oil production has declined since Hugo and his cronies took it over.
He really has destroyed his country and has been re elected solely by very small bribes to the poor uneducated people who support him in ignorance
Great, let's now concentrate on closing similar deal on METRO.
This would be attractive to pompous Chavez from publicity standpoint, yet beneficial to Dominicans by allowing them to unload this heavy financial burden.
Win/Win situation the way I see it.
Did you leave asylum's door open again?
The loco is on the loose once more.
S.
abc for president for life!
A compost heap and a solar-powered scooter in every home!
Vote for abc!
S.
S.
S.
BTW, have any of you ever read about the orchestras of the world program in Venezuela