Operator Vigor has firmly pushed back against suggestions that oil stored at the ISLA refinery in Emmastad and the Bullenbaai storage terminal could be seized to cover alleged outstanding payments to state-owned company 2Bays.
According to Vigor, the oil in question does not belong to the company and is therefore not subject to any form of attachment or seizure.
Senior representatives of Vigor on Curaçao say the company was taken by surprise by public statements suggesting that the oil could be used as collateral or leverage. They stress that Vigor itself is convinced it has no net debt toward 2Bays.
Vigor wishes to clarify that the oil referred to in recent reports is the property of third parties, not of Vigor, and in any case should not be subject to seizure, a top official of the company stated.
While the official declined to be named, it is clear that Vigor’s local management is closely monitoring the political and public debate surrounding the issue?
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The controversy follows remarks made by Prime Minister Gilmar ‘Pik’ Pisas during last week’s parliamentary debate on the 2026 national budget.
During that session, Pisas expressed frustration over what he described as a payment arrears of approximately 8.2 million US dollars allegedly owed by Vigor to 2Bays, the government-owned company responsible for managing the former refinery assets.
Vigor’s response highlights a growing divergence between the company’s position and that of the government.
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By emphasizing that the oil belongs to third parties, Vigor is effectively drawing a legal line around assets under its operational control but not its ownership.
The dispute comes at a sensitive moment, as Curaçao continues to seek stability and clarity around the future of its energy infrastructure and the long-term operation of the ISLA and Bullenbaai facilities.
Whether the disagreement will escalate further, or lead to formal legal or contractual clarification between Vigor and 2Bays, remains to be seen.
Curacao Chronicle / ABC Flash Point Blog Site 2025.
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