PRIME Minister P J Patterson left the island yesterday for Caracas, Venezuela, where he will sign a memorandum of understanding between PEDAVAZA of Venezuela and the Petroleum Corporation of Jamaica (PCJ).

The MOU, which is the result of a PETROCARIBE initiative launched in 2003, will, in addition to strengthening the San Jose and Caracas Accords, enable the security of fuel supplies to Jamaica and the Caribbean, according to a Jamaica House statement.

Speaking at a post-Cabinet press briefing on Monday, Patterson said the MOU would provide for lower transportation costs for crude oil, facilitate the revamping and upgrading of refinery capacity throughout the Caribbean, and allow for collaboration in oil exploration.

He said the social benefits to be derived from the MOU would impact education, health and housing in Jamaica.
From Venezuela, Patterson will travel to St Lucia for the 26th Conference of Caricom Heads of Government from July 3 to 6.

Patterson returns to the island on Thursday, July 7. During his absence Portia Simpson Miller, the minister of local government, will be in charge of the government.

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