WILLEMSTAD – Curaçao’s long-awaited refinery revival has entered its most turbulent phase yet, with Prime Minister Gilmar Pisas admitting he feels “deceived and disappointed” by Vigor Midstream, the company contracted to operate the former Isla refinery and the Bullenbaai terminal. The situation has escalated so sharply that Pisas nearly terminated the contract and expelled the company from the country altogether.
Vigor, which signed a lease agreement in July 2024, is accused of failing to meet key financial obligations, including rental payments to state-owned 2Bays and its subsidiary Curaçao Refinery Utilities (CRU), as well as outstanding debts to multiple local contractors. The missed payments have paralyzed progress on one of Curaçao’s most crucial economic projects.
“This is one of the greatest disappointments I’ve had recently,” Pisas said during a local radio interview. “We were misled. What Vigor promised and initially presented to the government is not what it has turned out to be.”
From Oryx to Vigor—and to Stalled Promises
Vigor, previously operating under the name Oryx, entered Curaçao with ambitious pledges to restart refinery operations after years of uncertainty following the departure of Venezuela’s PdVSA in 2019. Initially, Pisas said, “everything seemed positive.”
But tensions rose after Vigor sought to renegotiate utility tariffs linked to a separate investment proposal by U.S.-based Global Oil, which is seeking to establish an asphalt production facility at the refinery site. When 2Bays refused to modify the agreement, payments from Vigor reportedly stopped altogether.
Delegation Sent to London Meets No Owner
In October, Pisas authorized a five-member delegation from 2Bays—including interim director Patrick Newton and board members Hans Vissers, Edgar Hermelijn, David de Haseth, and Richard Arends—to travel to London for high-level talks with Vigor’s leadership.
However, the trip took an unexpected turn: Vigor’s owner, Ghanim Saad M. Alsaad Al-Kuwari, did not attend the meeting despite prior commitments. Instead, the delegation was met by the same representatives who had repeatedly visited Curaçao.
“I was furious,” Pisas said. “If it were up to me alone, I would have shut down the operation and expelled Vigor immediately.”
But he acknowledged that such a drastic move would jeopardize hundreds of workers and contractors still awaiting payment.
Mounting Economic Consequences
The uncertainty surrounding Vigor has rippled far beyond the negotiating table. Dozens of Curaçaoan contractors hired to work inside the refinery complex remain unpaid, straining their finances and putting jobs at risk.
The refinery’s reactivation—considered a cornerstone for Curaçao’s economic future—again hangs in limbo, causing growing concern among labor groups, business associations, and the wider community.
After days of silence, 2Bays issued a short, guarded statement: “The situation is currently status quo,” offering no clarity on next steps, negotiations, or timelines.
Government Patience Wearing Thin
Pisas stressed that Curaçao will not tolerate prolonged noncompliance or evasive tactics. “The company signed a binding agreement and must honor its commitments,” he said.
Every day without a resolution deepens financial risks for local contractors and prolongs the shutdown of the country’s most valuable industrial asset.
For now, the future of Vigor Midstream in Curaçao remains uncertain—but one thing is clear: the government’s patience is nearly exhausted.