Reliable

industry sources indicate that Cabinet has approved a  decision  to

disband the Petroleum Corporation of Jamaica (PCJ).

Questions sent to PCJ regarding the decision and disposal of assets were re-directed to the Ministry of Science, Technology, Energy and Mining (MSET). Acknowledging receipt of the query, Camille Taylor Manager, Corporate Affairs and Communications , Petroleum Corporation of Jamaica said, “  We advise you to direct this query to the Office of the Cabinet and the Minister of Science, Energy and Technology.”

MSET  responded to

say that it was engaged in stakeholder consultations and was not ready for

comment.

Assets of the PCJ group

include the PCJ building in Kingston, Font Hill in St Elizabeth and the

Petrojam refinery.

Petrojam operates the state

owned refinery, a 36,000 barrel per day facility located on Marcus Garvey Drive

in Kingston.

As outlined on the PCJ

website, the company supplies Jamaica with a full range of domestic,

transportation and industrial petroleum products and “continues to be one of

the government’s largest revenue generators.”

Shares in the subsidiary

which belonged to joint venture partner PDV Caribe, a Venezulan company, were

in March expropriated by the Government of Jamaica, which subsequently declared

that it was the 100 per cent owner of the refinery.

Michael  Hylton QC,

the attorney representing PDV Caribe which has made claims against the

expropriated shares, said that no response has been forthcoming from the

GOJ so far.

The websites lists among the

group’s wholly owned subsidiaries Petrojam Ethanol Limited (PEL).

 The company’s major

function is the production, export and sale of anhydrous ethanol. PEL owns a 40

million gallon ethanol dehydration plant which is located at the Petrojam

Refinery Complex on Marcus Garvey Drive in Kingston. The operation has been

mothballed for some time.

Another subsidiary is the

Jamaica Aircraft Refueling Services, (JARS) which the PCJ website points out is

a joint venture between AirBP Amoco and the PCJ.

The company provides

refuelling services at the Norman Manley International and Donald Sangster

International Airport.

 The company also owns

Font Hill, which NEPA documents indicates was once being considered by the PCJ

for a resort development.

“The Petroleum Corporation of

Jamaica proposes to develop small hotels, residential lots and resort cottages

at Font Hill, St. Elizabeth on the coastal part of 1054.5 ha of land that it

owns and manages,” a NEPA report outlines.

 The proposed

development,  obtained outline approval from the St. Elizabeth Parish

Council . It  was planned to include  seven  small hotels (30

bedrooms each) ;  117 cottages (1-4 bedrooms each); and a   public

park and jogging trail .