The Aruba refinery maintenance issue has been described as a major strategic mistake, according to Hose Figaroa of FTA, who recently shared his concerns in an interview.
Figaroa stated that Aruba may have made a significant error by allowing refinery facilities to deteriorate over the years, especially when compared to Curaçao, which has maintained its infrastructure and remains prepared to store crude oil.
He explained that due to the current condition of Aruba’s storage tanks, it would now require considerable time and financial investment just to make them operational for storage purposes.
According to Figaroa, this situation places Aruba at a disadvantage, as the country no longer has the ability to quickly take advantage of opportunities in the oil storage sector.
“The Aruba refinery maintenance issue shows that we failed to at least preserve the storage capacity, which could have allowed us to start operations immediately when opportunities arise,” he said.
He emphasized that focusing on a single opportunity while other Caribbean countries are actively storing crude oil is a strategic mistake. Aruba, he noted, should not ignore potential opportunities in the sector or delay decision-making any further.
Figaroa warned that competition in the region is already strong, and waiting too long could make it unprofitable or irrelevant for Aruba to enter the market later.
“We need to be proactive,” he stressed. “Even though we are already late, we still have a chance to make use of this opportunity if we act now.”
The Aruba refinery maintenance issue highlights the importance of long-term infrastructure planning and the need for timely decisions to remain competitive in the regional energy market.
