Dominican refinery stake sale to close this month

* Sale to Venezuela to conclude within 15 days -minister

* Payment worked out through PetroCaribe mechanism

By Manuel Jimenez

SANTO DOMINGO, Nov 4 (Reuters) - Dominican Republic will conclude in the next 15 days the sale to Venezuela of a 49 percent stake in its Refidomsa oil refinery, at a price of $131.5 million, the Caribbean nation's government said on Wednesday.

Finance Minister Vicente Bengoa said he would be signing the sale contract with Asdrubal Chavez, vice president of Venezuela's state oil company PDVSA. Dominican Republic and Venezuela had announced the planned deal in the summer.

"With a partner of the category and knowledge of Venezuela, the refinery will considerably increase its production and sales in the coming years," Bengoa said.

He gave no more details about the planned expansion of the 34,000 barrels per day Refidomsa (Refineria Dominicana de Petroleo S.A.) refinery.

In December, Royal Dutch Shell Plc (RDSa.L: Quote, Profile, Research) said it had completed its sale to the Dominican government of its 50 percent shareholding in Refidomsa for $110 million.

Bengoa said Dominican Republic would be compensated for the sale of the refinery stake to Venezuela between Nov. 22 and Jan. 18 through its participation in the Venezuelan-backed PetroCaribe regional energy alliance, which allows members to buy Venezuelan oil on easier terms.