to be flying suborbital space tourism flights and scientific research missions from a new spaceport on Curaçao. The island lies outside of the Hurricane belt and has a well-developed tourism infrastructure. Curaçao's coast has a sharp drop-off known as the "Blue Edge" which makes it a popular scuba diving destination. Coral reefs for snorkeling and scuba diving can be reached without a boat. The southern coast has calm waters as well as many small beaches, such as Jan Thiel and Cas Abou. The coastline of Curaçao features numerous bays and inlets which serve as popular mooring locations for boats. Some of the coral reefs are affected by tourism. Porto Marie Beach is experimenting with artificial coral reefs in order to improve the reef's condition. Hundreds of artificial coral blocks that have been placed are now home to a large array of tropical fish. Oil refining The discovery of oil in the Maracaibo Basin of Venezuela in the early 20th century forced the Venezuelan government to search for ideal locations for large scale refining. Curaçao's proximity to the country, naturally deep harbors, and stable government led Royal Dutch Shell to construct the , the largest refinery in the world at the time. The refinery is located in the Schottegat, the natural harbour beyond Willemstad and began operating in 1918. Venezuela's state oil company, Petróleos de Venezuela (PDVSA) operated the Isla refinery, which had a 320,000 barrel per day capacity until it closed in 2019. In 2017, negotiations were underway with a Chinese company, (GZE). In July, the discussions were suspended but Prime Minister Rhuggenaath announced that he would travel to China later in the year to reopen negotiations. Financial services Curaçao's history in financial services dates from World War I with the conversion of the financial arms of local merchant houses into commercial banks. As the economy grew, these banks began assuming additional functions eventually becoming full-fledged financial institutions. The Dutch Caribbean Securities Exchange is located in the capital of Willemstad, as is the Central Bank of Curaçao and Sint Maarten; the latter of which dates to 1828 making it the oldest central bank in the Western Hemisphere. The island's legal system supports a wide variety of corporate structures and is a popular corporate haven. Curaçao is considered a tax haven yet it adheres to the EU Code of Conduct against harmful tax practices. It holds a qualified intermediary status from