STRUCTURE OF COMPANY

Petrojam is a limited liability company; jointly owned by PDVCaribe, a subsidiary of Petróleos de Venezuela (PDVSA) and the Petroleum Corporation of Jamaica (PCJ). The PCJ is a statutory body created and wholly owned by the Government of Jamaica.

The General Manager is responsible for daily management of Jamaica's only petroleum refinery; however the ultimate internal authority is the Board of Directors. The Board is comprised of an equal number of Venezuelan and Jamaican Directors. The main departments include the Production; Logistics and Marketing; Technical Services; Safety, Security, Environment & Quality; Finance and Accounts; Human Resource Development & Administration Departments and General Manager's Office.

HISTORY

Petrojam was established in 1982 when the Government of Jamaica purchased the Esso Kingston Refinery, which had been built, and operated by Esso since March 1964. In 2006 the Government of Jamaica sold 49% of its shares to PDVCaribe.

SUMMARY

OVERVIEW OF ACTIVITIES

Petrojam supplies Jamaica with a full range of domestic, transportation and industrial petroleum products. The company focuses primarily on meeting the needs of the national market, and does this through a mix of refining and importation of finished products. Customers served include the Power Producing; Aircraft Refueling; Multinational and Local Marketing companies

Petrojam also operates a laboratory which provides quality control and certification services for products manufactured and imported by the refinery; laboratory service is also provided to Jamaican businesses and the scientific community.

Petrojam maintains high standards for quality; health and safety; and environmental protection, and is committed to delivering high quality products on schedule to the complete satisfaction of its customers.

STAFFING

The General Manager reports to the Board of Directors, and is assisted by his management team of seven (7) functional managers. The company is staffed by approximately 211 employees, deployed to the departments of Finance & Accounts, Logistics & Marketing, Human Resource & Development, Safety & Environment, Technical Services, Production and Strategic Planning.

FINANCIAL INFORMATION

BUSINESS STRATEGY

Petrojam's business strategy focuses on:

1. Ensuring Long Term Competitiveness
2. Improving Plant Reliability
3. Meeting & Exceeding Customer Needs
4. Maintaining & expanding market share 
5. Increasing Business Process Efficiency and Cost Savings
6. Strengthening Organizational Support

Shipping Activities

Petrojam Shipping manages the vessels used in its marine operations.  Petrojam owns a tug/barge and charters vessels as required to effect movement of crude and finished products into the country.  The vessels are also used to make round island movements with products for Power producers and to Petrojam's Montego Bay Terminal. 

Bunkering Operations

A supply agreement with AEGEAN Marine Petroleum SA Ltd. of Liberia through its local subsidiary AEGEAN Bunkering Jamaica Ltd. for sale of bunker fuels for vessels outside of Kingston.

MAJOR PROJECT

Refinery Upgrade Project

Petrojam has embarked upon a US$1.2 billion project to upgrade the refinery. This will increase refining capacity from 35,000 to 50,000 barrels per day; reduce importation of finished products; increase operating efficiency; improve product yields from crude oil, and contribute to meeting worldwide mandates for low sulphur fuels which are needed to protect the environment.  2013 is the scheduled completion date for the project.  The upgraded refinery will produce fuels for local use as well as export. The products include:

1. LPG Marine Diesel Oil (export)
2. Gasoline Vacuum Gas Oil (export)
3. Turbo Fuel Low Sulphur Diesel (export)
4. Diesel Petcoke (electricity generation/export)

Significant Milestones