From oil boom to redevelopment
For much of the 20th century the refinery in San Nicolas was the heart of Aruba's economy. Lago Oil & Transport Co., part of Standard Oil, started refining oil from Venezuela here in 1929, and it became one of the largest refineries in the world.
The refinery attracted workers from across the Caribbean and beyond, shaping the multicultural character of San Nicolas.
Timeline
- 1929: Lago starts refining in San Nicolas.
- 1985: Exxon closes the refinery; roughly half of the island's economy disappears and Aruba turns to tourism.
- Later years: the refinery reopens under other operators; Valero halts refining in 2012.
- 2016–2020: a lease with Citgo to restart the refinery ends without a restart.
- November 2025: Aruba and the Netherlands announce that the former refinery will be dismantled for good and the site redeveloped as a sustainable development hub, supported by €50 million in Dutch funding.
Good to know
Information on this page can change over time, so check official sources for the latest details.
See also: San Nicolas today.
Last updated: September 2026.