Economy February 18, 2015 | 9:23 am

State should buy Venezuela’s 49% stake in refinery, people say

Santo Domingo.- Some prominent industrialists, economists and oil experts on Tuesday said the country should buy Venezuela’s 49% stake in Dominican Republic’s only refinery (Refidomsa) if Caracas puts it on the block.

Ernesto Selman said he agrees that the State should buy the 49% stake in the refinery as well as expand its production capacity.

He notes however that it would be also good news if third parties acquire Venezuela’s shares in Refidomsa.

He said the Dominican government should ask Venezuela to conduct a transparent call for tenders, but calls Caracas a "totalitarian" regime that in his view seeks political advantage with its oil agreements.

Industrialists

Industries Association (AIRD) president Campos de Moya said once the government decided to do business with Venezuela, local entrepreneurs stated their interested in participating, because in his view the country is open to any type of investment.

For Dominican Electricity Industry Association (ADIE) president Cochón Marcos, the fuel sector’s strategic importance demands responsibility in any operation involving it.

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