| Contact Information | ||
|---|---|---|
| Registered Office | 96 Marcus Garvey Drive, Kingston 15 | |
| Corporate Office | 75 Marcus Garvey Drive, Kingston 15 | |
Contact Information
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| Business Summary | ||
|---|---|---|
| Date of Establishment | October 1982 | |
| Main Executives |
Wayne Chen – Chairman of the Board of Directors Winston L. Watson – General Manager |
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| Registered Capital | US$15,282,000 | |
| Main Business | Refining crude oil into finished products | |
| Refinery Type/Technology | Hydroskimming | |
| Rated Refining Capacity |
36,000 barrels/day on 30o API Crude
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Average Production Rate |
28,000 to 30,000 barrels/day | |
| Products Sold |
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| Services Offered | Laboratory Testing | |
| Banking Relationship | ||
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| Auditor | ||
|---|---|---|
| PriceWaterhouseCoopers Jamaica | ||
| Financial Information | |||
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*Year Ended Mar 2019 US$’000 |
Year Ended Mar 2018 US$’000 |
Year Ended Mar 2017 US$’000 |
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| 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 | ||
|---|---|---|
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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 |
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| 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 | ||
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| 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 | 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. | |
| 2020 | Commenced the refining of low sulphur crudes to produce fuels (Very Low Suphur Fuel Oil) in compliance with the new International Maritime Organization (IMO) sulphur specifications (January 1, 2020) | |
