Cabinet approves new Petrojam board

Tuesday, June 19, 2018

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KINGSTON, Jamaica — The Office of Prime Minister (OPM) today announced that Cabinet has approved the appointment of a new board at oil refinery Petrojam amidst a hailstorm of corruption allegations which have rocked the company over the past several weeks.

The appointment also follows news that that Chairman Perceval Badahoo-Singh and fellow directors Richard Creary and Harold Malcom handed in resignation letters yesterday.

The new board members are:

Paul Hoo, former chairman of Supreme Ventures Limited
Rosie Pilner, former vice president, Scotia Bank
Wayne Powell, former vice president, Scotia Bank

OPM, in a release today, stated that Cabinet last night discussed the issues regarding Petrojam that are of concern in the public domain.

The Cabinet has directed the Cabinet Secretary to task the Permanent Secretary in the Ministry of Science, Energy and Technology to prepare a report on the operations of Petrojam with specific attention to various allegations in the public domain, the OPM release said.
The OPM said that the report is to be ready for the next meeting of Cabinet “where it is expected that the Permanent Secretary and the senior management team of Petrojam will attend and present the report”.

Petrojam is jointly owned by the Petroleum Corporation of Jamaica (PCJ), which has 51 per cent, and PDV Caribe SA of Venezuela.

In 2006, the Government of Jamaica entered into a joint venture arrangement with the Government of Venezuela through the PCJ and PDV Caribe — a wholly owned affiliate of Petroleos de Venezuela, SA (PDVSA), the Venezuelan oil corporation — for the expansion, joint cooperation, and management of the Kingston refinery.

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