Vaz dismisses rumoured oil discovery in Jamaica as ‘fake news’
Energy Minister Daryl Vaz has dismissed as “fake news” social media reports that oil has been discovered on Jamaica’s shores.
“I have seen the many posts on social media and received WhatsApps and telephone calls in relation to the fake news circulating on social media in relation to the discovery of oil on our shores or off our shores. As minister, I can categorically state that there is no such thing, it is absolutely fake news,” Vaz said in a statement on Sunday.
Rumours of the alleged discovery of oil the equivalent of seven billion barrels have been spreading like wildfire on social media in recent weeks, with some people speculating a “cover up”, even claiming that the release of popular entertainer Vybz Kartel was done deliberately to distract the masses from the alleged find.
However, Vaz said the claims are “untrue” and urged Jamaicans to disregard the rumours.
“I as minister would be the first one to be excited to share any such good news if and when that happens. So until such time… disregard all information in relation to Jamaica’s discovery of oil, it is just simply untrue,” Vaz said.
United Oil Plc, the British-based company with the licence to explore for oil and gas off Jamaica’s south coast, has identified fields off the coast of St Elizabeth and Westmoreland as massive in potential and has proposed that they could produce in excess of one million barrels of oil per day.
Earlier this year, it said from 21 leads it has identified the prospect for seven billion barrels of oil, but added that leads from previous exploration suggests almost five billion more barrels of oil could be present, pushing the total prospects close to 12 billion barrels. If realised, that would propel Jamaica to 16th in the world, above established producers like Brazil, Norway, Mexico, Colombia, and Ecuador.
But to get that oil, United Oil and Gas needs money to drill for it and has been seeking to woo investors. It said it has already spent US$40 million to gather the data and wants investors to help it foot the cost of drilling.
The company has until January 2026 to decide if it will “drill or drop” the licence but said it will do so before January 2028 in an apparent indication that it wants to go ahead and drill for oil and gas.
