Shell passes to government

[NewsWhore]

The government has become the sole owner of the Dominican Petroleum Refinery (REFIDOMSA). Hacienda Minister Vicente Bengoa said that the year-long negotiations with the Shell Company had now concluded. Shell used to own 50% of the company until it agreed to sell its stake for US$110 million. The purchase of Shell is part of President Leonel Fernandez's 2007 energy saving plan. Fernandez explained that the purchase of Shell could allow the government to access more petroleum under the PetroCaribe agreement.

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