Posted On 05 Jul 2017
The cost of the Pacific Refinery would be adjusted between a 34% and a 47%, in order to make it more attractive for private investment.
Minister of Hydrocarbons Carlos Perez stated this yesterday and added that the Government is committed to promoting the project but to do so needs to make an adjustment.
The official explained that the $ 15 billion price for a refinery that produces 300,000-barrel daily could be adjusted at $ 8 to $ 10 billion.
He explained that, according to studies worldwide, refineries with the same characteristics in Saudi Arabia or China cost less, so he estimates that the budget for the project could be reduced to $ 8 billion or $ 10 billion.
When asked if this meant a surcharge by the previous administration, the minister said that the necessary minimum budget required by the companies will be established. He explained that many may have good intentions, but “we should adjust to reality.” (I)