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Vetra wins Refidomsa price evaluation tender
Source: Bnamericas
Date: 03/13/2008 00:00
The Dominican Republic`s finance ministry has awarded Vetra Energía Costa Rica the contract to determine the value of Anglo-Dutch oil company Shell`s (NYSE: RDS-B) stake in oil refiner Refidomsa.
The ministry expects to sign the contract as soon as possible, the ministry said in a letter to Vetra.
The government`s acquisition of Shell`s Refidomsa stake could wrap up end-April, newspaper Listin Diario quoted finance minister Vicente Bengoa as saying.
President Leonel Fernández in November ordered the state to acquire Shell`s 50% share in Refidomsa as part of a package of energy reforms. Initial reports have pegged Shell`s stake upwards of US$200mn.
In 2006, Shell announced it was considering plans to sell its assets in the Dominican Republic. The Caribbean country`s government controls the other half of Refidomsa, which has installed capacity of 34,400b/d.
The Dominican Republic consumes 140,000b/d.

