Corporate Fact Sheet

Contact Information
Registered Office 96 Marcus Garvey Drive, Kingston 15
Corporate Office 75 Marcus Garvey Drive, Kingston 15
Contact Information
  • Telephone
  • Facsimile
  • Email
  • Website
 

 

Business Summary
Date of Establishment October 1982
Main Executives Paul Hoo                - Chairma of the Board of Directors
Winston L. Watson - General Manager
Registered Capital US$15,282,000
Main Business Refining crude oil into finished products
Refinery Type/Technology Hydroskimming
Rated Refining Capacity 36,000 barrels/day on 30o API Crude
(equivalent to 32,000 barrels/day on 26o API Crude)
Average Production Rate
(on current crudes -26o  API)
28,000  to 30,000 barrels/day
Products Sold
  • Liquefied Petroleum Gas (LPG) – Propane & Butane
  • E-10 Gasoline (87 and 90 RON)
  • Automotive Diesel Oil
  • Jet/Turbo Fuel
  • Kerosene
  • Heavy Fuel Oil (HFO) – 0.5 wt%, 2 wt% and 3 wt% Sulphur
  • Asphalt
  • Bunker Fuels – Intermediate Fuel Oil (IFO 380) and Marine Diesel Oil (MDO)
Services Offered Laboratory Testing

 

Banking Relationship
  • Citibank NA
  • National Commmmercial Bank of Jamaica Limited
  • Banco LatinAmericano de Exportaciones (BLADEX)
  • Bank of Nova Scotia Jamaica Limited

 

Auditor
PriceWaterhouseCoopers Jamaica

 

Financial Information
 

*Year Ended Mar 2019

US$’000

Year Ended Mar 2018

US$’000

Year Ended Mar 2017

US$’000

Revenue

1,187,770

1,048,407

927,500

Capital Base

191,409

172,927

152,473

Total Assets

483,467

489,171

434,201

* Audited Financial Statement March 31, 2020

 

Corporate Strategies: 2019 to 2024

1. Financial Viability

- Increase profitability through improved capacity utilization and product yields

- Reduce Expenses

2. Customer Driven

- Increase Customer Satisfaction

- Increase Sales Volume

3. Operational Excellence

 - Increase operational efficiency of core and support processes

            - Improve Plant Reliability

            - Strenghten Product Quality Management

 - Strenghten Safety Culture

 - Improve operational risk management system

4. High Performance Culture

- Improve Employee Engagement

- Improve Employee Knowledge, Skills and Abilities

- Improve Technology Utilization

 

 

Company's Mission
“To efficiently refine and supply petroleum products at internationally competitive prices and quality, acting at all times in the best interest of Jamaica and all other stakeholders”.

 

Company’s Vision
“By 2030, Petrojam will be the best in class Petroleum Company”.

 

Company's Values
  • Customer Focus. We will be accessible to the customer; be sensitive to the customer’s needs; effectively communicate and respond in a timely manner; routinely seek feedback to improve service.
  • Excellence. We will be thorough, accurate and timely in our work; and develop and continuously improve our capabilities.
  • Integrity. We will show respect for time, people and property; be honest, frank and transparent with others; be fair and even-handed with others; and operate to the highest ethical standards.
  • Teamwork. We will communicate openly and effectively with each other; follow through with commitments; support organizational goals and objectives; be committed to the success of the company; share knowledge; encourage participation of others; and recognize and encourage performance and achievement.
  • Commitment to Health Safety & Environment (HSE). We will comply with design and operating standards; immediately address HSE violations; report incidents and hazards promptly; comply with PPE and good housekeeping practices; and willingly serve in HSE programmes.

 

Significant Milestones
Date Events
1964 Refinery
1982 Refinery purchased by the Government of Jamaica and renamed Petrojam 
1986 Established Petrojam Ethanol Limited
1996 Constructed and commissioned a second terminal in western Jamaica
1998 Processing Agreement between EDF MAN Alcohols of London
1990-93 Petroleum Industry deregulated
1999 Joint Venture arrangement with AirBP, resulted in the formation of Jamaica Aircraft Refueling Service (JARS)
1999 Embarked on phasing out of the Top Loading System and implementation of Bottom Loading System which was fully implemented in 2002
2000 Phase out of lead in all gasoline products
2002 Implementation of a comprehensive Process Safety Management System (according to OSHA standards) 
2004 US$10 Million Joint Venture agreement with COIMEX of Brazil, to refurbish the ethanol plant and resume production of ethanol
2004 US$3 Million upgrade of the refinery’s instrumentation system to a computerized DCS process control system.
2005 Agreement with AEGEAN Marine Petroleum SA Ltd. of Greece to supply bunker fuels for vessels outside of the Kingston harbor 
2006 Agreement signed between the Governments of Jamaica and Venezuela for     PDV Caribe to purchase 49% share in the refinery.
2009 Phase out of MTBE and full introduction of Ethanol as an octane enhancer
2009 Completed Front End Engineering Design (FEED) for US$1.3 billion Refinery Upgrade Project (RUP)
2013 Introduction of Ultra Low Sulphur Diesel (ULSD) into the market
2019 Established crude oil supply agreement with Petroecuador and Barbados National Oil Company Ltd.
2019 Commenced the refining of low sulphur crudes to produce fuels (Very Low Suphur Fuel Oil) that met IMO suphur specifications
2019 Leased Storage facilites at Jamaica Petroleum Terminals (JPT) to increase product holdings in Montego Bay
2019 Repurchase of 49% shares from PDV Caribe by the Government of Jamaica.