Economy October 31, 2016 | 7:59 am

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Venezuela halts oil supply to Dominican Republic: official

Santo Domingo.- The CEO of Dominican Republic’sState-owned oil refinery (REFIDOMSA) on Sunday revealed that Venezuela isn’tdispatching crude to the country, for which it has had to resort to othermarkets.

Felix Jimenez said the lack of supply is ineffect since January and all the crude REFIDOMSA refines in from the UnitedStates, Mexico and Nigeria.

"Venezuelans has pledged its oil toChina," the official said.

He said despite the situation however,Venezuela hasnt stated an interest in selling its 49% stake the refinery.

"What we have done is made it known, asthe contract says, that we have the first refusal," Jimenez saidinterviewed on Teleradio America.

He said there will be call for tenders toobtain US$150 million in local financing to increase the refinery’s storage capacityby 80% over the next 5 years.

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