Image result for Petrojam WINN FM

(Jamaica Observer) Energy Minister Dr Andrew Wheatley returned from Caracas early yesterday morning happy and relieved that Jamaica and Venezuela had finally arrived at an agreement on the long-awaited upgrade of the Petrojam refinery in Kingston.

Dr Wheatley and his Venezuelan counterpart, Nelson Martinez, signed the agreement late Wednesday night in the Venezuelan capital, bringing into force a condition of the deal reached in 2008 when State-owned Petroleos de Venezuela (PDVSA) spent US$63.5 million to acquire a 49 per cent stake in Petrojam. The remaining 51 per cent is held by the Jamaican Government.

“We finally signed the deal after 10 years,” an upbeat Dr Wheatley told the Jamaica Observer shortly after his arrival home.

He said the upgrade will meet Jamaica’s requirement of “55,000 barrels per day when the facility is up and running”.

Read more

Author: Sharon RichardsEmail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Recent Articles

Add comment

Security code

Top Business News

West Indies News Network (WINN FM 98.9)
Unit C24, The Sands Complex
Newtown Bay Road, Basseterre
St. Kitts, West Indies

St. Kitts (Office): 869.466.9586
St. Kitts (Studio-On Air): 869.466.0989
Miami: 1.305.921.4619

New York: 1-718-285-6984
UK : 0333 -344-0065

Copyright © 2017 West Indies News Network. All rights reserved.

Website Design & Development: Genesis Creatives, St. Kitts Nevis