KINGSTON, Jamaica (AP) — Valero Energy Corp. announced Monday that it will convert its shuttered oil refinery on the southern Caribbean island of Aruba into a fuel storage facility.

The San Antonio, Texas-based company suspended refining operations in March at the Aruba refinery, which processed heavy, sour crude and once had a capacity of about 275,000 barrels a day. It said it stopped producing gasoline and other fuels at the site due to high oil prices and “unfavorable refinery economics.”