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New Post has been published on https://goodnewsjamaica.com/business/upgrade-of-jamaicas-oil-refinery-on-track/

Upgrade of Jamaica’s oil refinery on track

Energy Minister Dr. Andrew Wheatley, says plans are under way for the installation of a Vacuum Distillation Unit (VDU), which is the first phase in the upgrading of the government’s Petrojam refinery.

Vacuum distillation is part of the oil-refining process that will help to produce petroleum products out of the heavier oils left over from atmospheric distillation.

The quality fuel produced from the VDU, which has significantly reduced sulphur content, will be used for the bunkering industry, which is now a stipulation under International Maritime Organization (IMO) guidelines. The VDU will also facilitate the production of asphalt.

“In January 2020, there will be a new (IMO) specification out as it relates to the type of fuel used, and it is part of an effort to reduce environmental pollution,” Wheatley said.

Wheatley said that several countries in the European Union have already adopted the IMO standards and for “Jamaica to be compliant, the refinery has to be in a position to supply fuel of that standard for the marine industry.”

The Energy Minister told Parliament that US$100 million, which have been earmarked for the first phase of the upgrade of the refinery, is with the Petroleum Corporation of Jamaica (PCJ).

“There is a small window to complete the project in time to meet the deadline, which is January 2020. It is important to be able to provide bunker fuel, which should be of a certain quality, as it relates to sulphur content, to be able to supply cruise and cargo ships that use Jamaica as a transshipment point,” he said.

Meanwhile, providing updates on the Government’s efforts to reacquire the 49 per cent shareholding of Venezuelan oil company, PDV Caribe, in Petrojam, Wheatley informed that emails have been sent to the entity enquiring about the taxation implications should they accept Jamaica’s offer of reacquisition.

“The necessary stakeholder consultations were conducted with Tax Administration Jamaica and the Ministry of Finance and the Public Service and a response duly provided to PDV Caribe on April 17. It is our understanding that PDV Caribe’s legal team is examining our response, and we will press for a response in short order,” he said.

New Post has been published on http://goodnewsjamaica.com/culture/petrojam-donates-to-walkers-place-of-safety/

Petrojam donates to Walker's Place of Safety

THE business community has continued to rally around the Walker’s Place of Safety in Kingston, where two children died in mid-January in a major fire which destroyed the home.

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Since Jamaica’s world sprint champion Usain Bolt donated $1 million to the recovery fund a week after the tragic fire, and urged support from the business sector, several businesses have answered the call.

Among the latest is Petrojam Limited, which lastweek contributed to the rebuilding efforts through its donation of $430,000 to the Child Protection and Family Services Agency (CPFSA), under which the home falls.

Petrojam also contributed food, clothing and other personal care items collected by members of its Community Outreach Committee. They presented the items to the CPFSA Chief Executive Officer Rosalee Gage-Grey at the agency’s Duke Street office.

Speaking at the handover, public relations officer at Petrojam, Latoya Pennant, noted that “at the heart of Petrojam’s corporate outreach programme is social welfare”.

“We thank all the team members who responded to this relief drive, and do hope that our contribution will assist the rebuilding efforts, so that in as short a time as possible, the children and staff will be reunited,” Gage-Grey said.

Also among the most recent contributors has been the Marubeni Corporation, one of the Jamaica Public Service’s (JPS) shareholders, which has donated $1.3 million to the rebuilding of the home.

The fire, which left 34 of the 36 wards displaced, was a tragic event which moved Seiji Kawamura, president and CEO Marubeni Caribbean Power, and chairman of JPS, to take action and to help the children.

The JPS chairman, along with Kengo Aoki, JPS board member, visited the site of the destroyed building after handing over the cheque.

During discussions, which ensued at the CDA in downtown Kingston, Kawamura expressed his sorrow at the tragedy and his commitment to national development.

“I was deeply saddened upon hearing the account of what happened at the home and I felt compelled to contribute in some way. Our commitment as investors is to help in nation building and improving the quality of life for Jamaicans, especially the children,” he said.

The list also includes real estate investor, New Era’s Chairman Elia Taddeo, whose company donated $1.001 as an incentive for others to follow.

Taddeo explained that the extra dollar was not to be offensive, but to urge others to at least match his donation.

The Walker’s Place of Safety served as a transitional residence for children, providing food and shelter, along with access to educational services and health care. But, as a result of the fire, the children are being housed at several other locations in the Corporate Area.

The Child Protection and Family Services Agency is coordinating the recovery efforts for the home and has plans to start rebuilding the facility this year.

By: Balford Henry

Original Article Found Here

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