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PCJ

News and information related to Petroleum Corporation of Jamaica (PCJ)

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  • In hosting the conference, JIEP has collaborated with several governmental and private sector entities, including the Centre for Marine Sciences, at the University of West Indies, the Environmental Foundation of Jamaica (EFJ), the United Nations Development Programme (UNDP), Red Stripe, Petroleum Corporation of Jamaica (PCJ), Jamaica Public Service Company (JPS), General Inspection Company (SGS) as well as an individual, Dane Buddo.

  • January 1, 2020
  • PDV Caribe, a subsidiary of the state-owned Petrleos de Venezuela SA, and the Petroleum Corporation of Jamaica (PCJ) entered into a joint-venture agreement, which resulted in the sale of Petrojam shares in August 2006 and February 2007.

  • January 1, 2020
  • In August 2006 and February 2007, respectively, the Petroleum Corporation of Jamaica (PCJ) Petrojam Limited and PDV-Caribe a Venezuelan State agency entered into a joint venture agreement and an agreement to sell 49 per cent of PCJ's shares in Petrojam to PDV-Caribe.

  • PCJ

    PCJ

    12 years later, acknowledging that during the global financial crisis which impacted everyone's fiscal capacity including Jamaica's but also noting that despite subsequent efforts, including a further Refinery Upgrade Agreement entered into in February 2017 between PCJ and PDVSA, PDV-Caribe has not fulfilled its commitments in that regard.

  • PCJ

    PCJ

    Even with that commitment and with efforts consistently being made at the technical level, it took us until January 2017 to sign a Letter of Intent and then, in February 2017, an agreement called the 'Agreement in relation to the Kingston Refinery Upgrade Project' (the RUP Agreement) was signed between PCJ and PDVSA (PDV-Caribe's parent company).

  • PCJ

    PCJ

    But it has become clear that the previously shared interest in and prioritisation of Jamaica's energy security, which drove the PCJ and PDV-Caribe to agree to operate and upgrade Petrojam together, no longer exists.

  • January 1, 2020
  • The timeline detailed that the chairman of Petrojam emailed the ministry on January 4 with copies of the two letters one to the Petroleum Corporation of Jamaica (PCJ) offering to purchase PCJ's 51 per cent holdings for US$60 million and the other from Venezuelan state-owned oil and natural gas company, PDV Caribe, advising of a Jamaican company's offer to purchase its 49 per cent holdings for US$100 million.

  • PCJ

    PCJ

    It is interesting to note that within one hour of being asked by the Opposition spokesperson whether there had been offers to purchase the respective shareholdings of PDV Caribe and PCJ, and having replied that MFAFT had not been advised of same, MFAFT received an email advising of those exact types of offers, the ministry's release said.

  • October 29, 2019
  • The Lacovia High School past student, was honoured with the pleasure of delivering the valedictorian speech along with fellow graduand, Constable Tevin Thompson, at the NPCJ passing out parade and awards ceremony at the Harman Barracks Campus in Kingston on Wednesday, she also walked away with the trophy for the highest marks obtained for academics.

  • October 28, 2019
  • Under the project, which was undertaken at the ministry's head office by the Petroleum Corporation of Jamaica (PCJ), through its Energy Efficiency and Conservation Programme (EECP), the buildings were retrofitted with a solar system that will result in a 34 per cent saving on electricity consumption.

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