MEP Member of Parliament Endy Croes indicates that the refinery could become one of two essential economic pillars for Aruba, considering recent changes in the global oil landscape and the strategic opportunities emerging in the region.
Croes stated that the world has seen that as of January 3, 2026,Wen the United States removed Venezuelan President Nicolás Maduro from international markets, a development that shows the global oil industry is in a phase of transformation. According to the parliamentarian, opportunities like these do not knock twice, and Aruba must take advantage of this historic moment.
In this context, Croes wants to send a clear and firm message. The MEP parliamentary faction closely followed a meeting that took place on January 9, where United States President Donald Trump met with 17 multinational oil companies.
During a press conference, President Trump declared that the companies that reach an agreement with the U.S. government will invest approximately 100 billion U.S. dollars in oil infrastructure in Venezuela. This includes the renovation of refineries, such as the refinery in Aruba, which is currently in a state of deterioration and requires investment to become operational again and increase its production capacity.
Venezuela has more than 330 billion barrels of oil reserves, representing approximately 55% of total global reserves. The process of extracting all this oil could take more than 1,300 years, which shows that the plans being developed are long-term.
The oil companies also requested security guarantees for their employees in Venezuelan territory and changes to the current commercial framework, including certain hydrocarbon laws. President Trump, according to Croes, gave assurances that the U.S. government will work on these changes, while the companies confirmed their commitment to the multi-billion-dollar investments.
Trump also showed interest in the timeline for starting the investments. According to the information presented, a technical team will be installed within a week to conduct initial inspections in Venezuela.
All 17 companies present expressed interest in participating in the Venezuelan refinery renovation plan. Also present at the meeting was the company that currently holds the concession for gasoline, diesel, and jet fuel in Aruba, TRAFIGURA, along with its CEO.
Croes emphasized that Aruba must take a thoughtful and strategic position. “Aruba has been searching for a second economic pillar for many years,” he said. “The process unfolding in our region creates a unique opportunity for Aruba to restore value to its refinery and strengthen its economy.”
The parliamentarian criticized recent initiatives to dismantle the refinery. He mentioned that former Prime Minister Mike Eman asked outgoing Prime Minister Schoof for funds for dismantling, motivated by the fact that Ministers Geoffrey Wever and Gerlien Croes want to continue relying solely on tourism as the only economic pillar, even proposing the idea of building hotels on the refinery site.
However, according to Croes, Aruba must not let this opportunity pass. He compared the situation to Curaçao, which seized the opportunity “with open arms.” He concluded that Aruba must think in the interest of its people by creating a sustainable second economic pillar to guarantee a higher standard of living and economic stability for its citizens.