The deadline is now up for any outside tenders to be filed to purchase the Shell Company’s hares in the Dominican Petroleum Refinery (Refidomas), which is the country’s only facility of this type, the deadline expired yesterday, Monday.  

3 of the 5 offers have been retired.  A source coming from the national newspaper El Nacional said they still didn’t know why 3 offers have pulled out and would not identify them or names of the tenders from the 2 company’s still in place.

The first offer was to the Dominican State who are Shell’s equal partner in Refidomsa, and they declined and said they didn’t object to the sale. Shells initiative to sell was confirmed last month and came before the broad spread scandal of last month after the alleged invoice alteration saga which was said to have influenced the parity price on imported fuels, used as a benchmark for domestic pump prices.

On May 24^th senior executives from Shell and Government officials met in the Hacienda Ministry to confirm the sale of its Refidomsa shares, Refidomsa’s president Ruben Montas among others was there. 

Shell is defending itself and has said it is a victim of a defamation campaign and has publicly requested the enquiry as the Department for Corruption Prevention has now opened an investigation into the scandal. 

Angel LockWard the ex-Industry and Commerce Minister said yesterday that the sale of Shell’s stake in Refidomsa would generate RD7billion in capital gains. 

He said although Shell’s capital in the refinery is only US$17 million, it has however received tenders of over US$200 million for its 50% share holding.