PETCOM to be Divested

first_imgThe Government is moving forward with the divestment of the Petroleum Company of Jamaica (PETCOM).Minister of Science, Technology, Energy and Mining, Hon. Philip Paulwell, in his Budget Debate presentation on April 24, said that an enterprise team headed by Chairman of Petrojam, Erwin Jones, has been established to handle the process.He informed that a valuation of the company’s assets is currently being undertaken and “we will announce more as information becomes available.” TheMinister encouraged local investors to be prepared to take up the offer.“Petcom has been a strategic asset in the petroleum marketing sector in Jamaica, and we hope that it will remain a strong player in the mar­ket. Again, I encourage local inves­tors to participate in the ownership of this important Jamaican asset,” he stated.Turning to another matter, Minister Paulwell informed that effective June 24, low-sulphur fuel will be available to motorists.He said Petrojam has now completed the appropriate infrastructure work to accommodate the fuel, and since last month, has been conducting consultations with industry players.“Two Petcom stations – Petcom Dunrobin in St Andrew, and Portmore Parkway in St Catherine – have been prepared for the arrival of this fuel and will immediately begin selling it to the motoring public when it becomes available,” Minister Paulwell told the House.He noted that low-sulphur diesel is a cleaner option and is better for vehicles and the environment. “We are again leading the Caribbean as we did with the phasing out of leaded fuel and the re­placement of MTBE as an additive with ethanol,” he stated.Regarding ethanol production, the Minister informed that operation of the dehydration plant at Petrojam Ethanol (PEL) has re-started.“Last December, PEL entered a toll processing agreement with Lansing Ethanol Services, under which ethanol processed at the PEL dehy­dration plant serves to supply the local market for gasoline blending, in addition to supplying volumes for export to the USA and other countries,” he informed.The Minister said it is expected that the profits for this year will amount to $109 million.By Chris Patterson, JIS Reporterlast_img read more

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PM Shocked by Sudden Death of Dr Winston Green, MP for South East St. Mary

first_img Prime Minister Holness says that the news of Dr Green’s death came as a surprise. He remembers Dr Green as a competent Member of Parliament who sat on Parliamentary Committees. Prime Minister Andrew Holness has extended condolences to the family of the Member of Parliament for South East St. Mary Dr Winston Green. Prime Minister Andrew Holness has extended condolences to the family of the Member of Parliament for South East St. Mary Dr Winston Green.Dr Green died suddenly this morning. He was 58 years-old.Prime Minister Holness says that the news of Dr Green’s death came as a surprise. He remembers Dr Green as a competent Member of Parliament who sat on Parliamentary Committees.“Dr Green had a quiet disposition. He has given national service which must be commended. Dr Green was one of those Parliamentarians who served his constituency well. I applaud Dr Green’s contribution to governance through politics,” said Prime Minister Holness.Dr Green was a second term Member of Parliament, having been elected in 2011 to represent the constituency of South East St. Mary.He served on the Public Administration and Appropriations Committee and up to the time of his death was a member of Parliament’s Internal and External Committee.“On behalf of the Government and people of Jamaica I extend deep and sincere condolences to the family and colleagues of Dr Green,” said Mr Holness.Dr Green was a dental surgeon and former Vice President of the Dental Association of Jamaica.He was educated at Excelsior High. Dr Green who was a member of the Opposition Peoples National Party received his degree in dentistry in Cuba.center_img Story Highlightslast_img read more

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