As we embark on our 41st year of service to Jamaica, Petrojam Limited continues to serve as the bedrock of Jamaica's energy sector, diligently fulfilling our mission to provide the Jamaican market with a comprehensive range of petroleum products.
These are Motor Gasoline (E10-97 and E10-90), Automotive Diesel Oil (ADO), Ultra Low Sulphur Diesel (ULSD) Liquefied Petroleum Gas (LPG), Intermediate Fuel Oil, and Marine Gas Oil, Heavy Fuel Oil (HFO), Low Sulphur Fuel Oil (LSFO), Very Low Sulphur Fuel Oil (VLSFO), and Asphalt.
We continue to fuel vital sectors such as transportation, manufacturing and tourism, through our reliable supply of petroleum products, at or above the required standards.
With close to 30 years immersed within the Petrojam family, I have had the privilege to intimately experience and contribute to our unyielding commitment to excellence in all aspects of operations.
Jamaica's Energy Future
The energy space is constantly evolving, globally and locally, and we know that Jamaica's energy future demands innovation, sustainability, and a strong customer-centric approach. As Jamaica's sole oil refinery, we are determined to remain a strategic production centre, proactively responding to ever-changing market demands. We will continue to deliver top-tier petroleum and ultimately energy products that advance our nation's energy security.
With sufficient strategic inventory reserves, we are the spinal column of Jamaica's fuel security. The fact that we have never run the country out of fuel is a point of pride in our operations.
Our determination to remain a strategic production centre is grounded in our core value that highlights our commitment to operational excellence. Attaining the highest level of performance is crucial to maintaining our seamless integration into Jamaica's energy future. To stay current and relevant, we are committed to product diversification. Our future strategies include expanding production capacity for specific products, promoting environmental stewardship, strengthening our financial stability, optimising internal processes to promote sustainability, maintaining a high-capacity workforce, and steadily prioritizing our customers' needs.
Expanded Production Capacity
As a key element of our commitment to market adaptability, the company intends to expand our production capacity in key areas such as asphalt production for both domestic consumption and export. This initiative is driven in part by the growing number of road infrastructure improvement initiatives locally. Our goal is to expand asphalt output to over 230,000 barrels per annum.
Recycling Rubber Into Asphalt Project
Additionally, we have embarked on an ambitious initiative to incorporate rubber and plastic components into the asphalt manufacturing process. This comprehensive strategy underscores Petrojam's dedication to aligning progress with sustainability, and creating a resilient future for Jamaica. This project, while boosting operational efficiency, is also aligned with eco-friendly practices.
Commitment to Sustainability
With the reduction in demand for High Sulphur Heavy Fuel Oil (HSHFO), the aim is to convert some of these barrels to asphalt. Converting HSHFO to asphalt is part of our decarbonisation strategy.
Beyond ethanol in gasoline (E-10-87 & E-10-90), other initiatives to come include incorporating other biofuels into our fuel blend, further solidifying our commitment to sustainability.
Boosting Financial Viability
Our strategic initiatives are geared towards optimising our assets and achieving financial stability. Our plans to increase asphalt production and drive export opportunities are means of enhancing Jamaica's foreign currency earnings and balance of trade.
Improving Internal Processes to Drive Sustainability
Quality is the foundation of Petrojam's operations. From production processes to customer service, our commitment to quality and customer service excellence is unwavering. Our quality assurance system squarely aligns with Jamaica's Petroleum Quality Control Act and international benchmarks, ensuring that each product released to the market meets the requisite specifications.
Our new lab, commissioned in 2019, is comparable with other international petroleum testing laboratories. We strictly conform to internationally accepted standard methods for measuring and testing petroleum products and are in the final stages of obtaining ISO 17025 quality management certification for our laboratory operation. Our commitment is to consistently deliver nothing but the best products and services to our valued customers at all times.
Our customers are at the heart of what we do. At our recently held customer engagement session, we highlighted our high regard for customer feedback and our intention to continue to actively incorporate their insights into our operations. Examples of this responsiveness are the planned upgrades to the Kingston Industrial Loading Rack loading bays and reassessing our customer loyalty programme.
Maintaining a High-Capacity Workforce
Our Jamaican workforce is the cornerstone of Petrojam's success. As we embark on a path of future growth, cultivating a skilled and motivated workforce is a key strategic focus. Our talented team work daily to ensure that quality and efficiency remain at the heart of our operations. Maintaining a qualified and motivated workforce will definitely be a strategic priority as we embrace the future and target increased growth.
This year, as we celebrate 41 years of serving Jamaica's energy needs, we are steadfastly charting a course that is responsive to an energy-diverse future, and are committed to advancing Jamaica's energy security in a constantly changing environment.
We are committed to playing a leading role in Jamaica's energy future, and will continue to deliver top-tier petroleum at competitive prices, and will remain the conscience of the market. Our company remains dedicated to sustainability and innovation and are confident that we will continue to be a vital part of Jamaica's economy for many years to come.