News

Petrojam expects full payment for latest delivery to Aegean Marine

Friday, November 09, 2018

Print this page Email A Friend!


PETROJAM Limited has dismissed claims by Opposition spokesman on energy, Phillip Paulwell that the local refinery is owed US$3 million by Aegean Marine Petroleum.

In a media statement, Petrojam said that all amounts owing for deliveries made to Agean prior to November 4 this year have been fully settled.

“The last delivery to Aegean was loaded on Sunday, November 4, with approximate value of US$370,000. Petrojam has been in dialogue with Aegean and we expect this amount to be paid in full,” the statement, signed by General Manager Winston Watson, said.

“Petrojam has had a long-standing relationship with Aegean Marine Petroleum since 2005, and they have always maintained an impeccable payment record,” the statement concluded.

Paulwell, speaking in the the House of Representatives on Tuesday, called on Prime Minister Andrew Holness to inform the country, whether the State-owned oil refinery was at risk of losing almost $400 million due to the bankruptcy of US-based Aegean Marine Petroleum Network.

Paulwell said that information he had obtained suggested that the company owes Petrojam US$3 million in unsecured payments.

Petrojam's bunkering operations includes a supply agreement with AEGEAN Marine Petroleum SA Ltd of Liberia, through its local subsidiary AEGEAN Bunkering Jamaica Ltd, for sale of bunker fuels for vessels outside of Kingston.

ADVERTISEMENT




POST A COMMENT

HOUSE RULES

1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy



comments powered by Disqus
ADVERTISEMENT

Poll

ADVERTISEMENT
ADVERTISEMENT

Today's Cartoon

Click image to view full size editorial cartoon
ADVERTISEMENT