KINGSTON, Jamaica, CMC – The Jamaica authorities says the contract to offer Trinidad and Tobago with high-sulfur and very-low-sulfur gasoline oil strengthens the state-owned Petrojam’s power commerce place within the area.
Science, Power, Telecommunications, and Transport Minister Daryl Vaz informed the Sectoral Debate within the Home of Representatives on Tuesday that Petrojam has exported 4.5 million barrels of petroleum merchandise since 2024, producing greater than US$500 million in export earnings.
He informed legislators that securing a brand new contract to produce Trinidad and Tobago with high-sulfur and very-low-sulfur gasoline oil, which is projected to yield US$90 million, was a big achievement. The deal will additional strengthen Jamaica’s power commerce place within the area.
“Regardless of some challenges, Petrojam continues to contribute strongly to nationwide income. The required steps will probably be taken to make sure that this continues,” he mentioned.
In February this 12 months, the state-owned oil refiner mentioned it had resumed gasoline exports to Trinidad and Tobago, securing a big deal value roughly US$90 million for 2025. Below the settlement, Petrojam will provide practically a million barrels of each very low-sulfur gasoline oil (VLSFO) and high-sulfur gasoline oil (HSFO) to Port of Spain, with Petrojam exporting between 60,000 and 90,000 barrels of gasoline monthly to Trinidad and Tobago, primarily to refuel ships within the nation’s waters.
Vaz mentioned that between January and December final 12 months, the Jamaica authorities, by way of Petrojam, provided 11.1 million barrels of petroleum merchandise to native and export markets.
“This quantity was achieved by way of refining and importing completed petroleum merchandise. Crude oil was sourced from key companions, together with Barbados, Brazil, Colombia, and Ecuador, guaranteeing a diversified and secure provide chain,” he informed legislators.
Vaz mentioned that over the subsequent three to 5 years, Petrojam would deal with optimizing its present operations whereas advancing cleaner power options.
The Power Minister outlined key technique components, together with producing and supplying ultra-low sulfur diesel (ULSD), increasing entry to environmentally pleasant fuels, and strengthening the liquefied pure fuel (LNG) provide to assist power diversification.
He mentioned the technique additionally consists of advancing Jamaica’s local weather change agenda by implementing a complete Environmental, Social, and Governance (ESG) program, driving the set up of photo voltaic methods, enhancing power effectivity in refining operations, and growing the manufacturing of sustainable biofuels.
Vaz mentioned that Petrojam’s mission to transform heavy gasoline oil (HFO) into asphalt is progressing and is scheduled for completion within the first quarter of the 2025/26 fiscal 12 months. This initiative entails putting in new services to course of HFO and produce asphalt for native consumption and export.
Vaz mentioned that the initiative will improve month-to-month output from 4,000 barrels per day to 19,000 barrels, guaranteeing larger home availability and export potential.
“Petrojam goals to refine 8.2 million barrels of crude oil to fulfill home and export gross sales targets. The remaining provide will probably be supplemented by imported petroleum merchandise and mix inventory to make sure a secure and aggressive power market.”
Relating to oil and fuel, Vaz mentioned in March 2025, the Manufacturing Sharing Settlement with United Oil and Gasoline was prolonged to January 2028 with up to date work program gadgets for the settlement.
“The extension permits United Oil and Gasoline to proceed de-risking the offshore prospects and their seek for an exploration companion to drill an exploration nicely, with the drill or drop determination now due by January 2028,” he mentioned.
