January 9, 2018 / 7:51 PM / a year ago

Dutch regulators extend time for PDVSA's oil-facility repair review

Jan 9 (Reuters) - Dutch authorities on Tuesday agreed to Venezuela’s state-run oil company PDVSA’s request to extend the time needed to demonstrate its financial ability to repair a decaying oil-storage facility on the Caribbean island of Bonaire.

The terminal is a key PDVSA facility and its loss would hurt shipments to customers in Asia.

In December, Dutch regulator Human Environment and Transport Inspectorate (ILT) told PDVSA unit Bonaire Petroleum Corp (BOPEC) that it must detail a plan to repair deficiencies and provide the necessary financing or face a loss of its operating license.

The inspectorate, which had earlier given PDVSA an ultimatum of Jan. 5, said on Tuesday it would give its decision after Jan. 19. (bit.ly/2CYGRKr) (Reporting by Akshara P in Bengaluru; Editing by Maju Samuel)

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