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16

Dominican Republic Bought Shell's Share in Refinery

The Dominican Republic has become the sole owner of Refidomsa refinery at Haina after Shell Petroleum NV completed transferring its 50% stake

The government paid $110 million for the interest, which Shell said it sold because it was no longer of strategic importance to the company. The parties agreed to the share purchase on Aug. 5.

The refinery, commissioned in January 1973, is the primary refinery in the Dominican Republic. Along with its import terminal, it supplies most of the fuel requirements in the country. It has a hydroskimming configuration, and in 1992 the refinery commissioned its own power generation plant, which improved the plant's reliability.

Shell said it would remain in the retail, lubricants, and commercial marketing businesses in the Dominican Republic.

Author: Ksenia Kochneva