JGRA supports Petrojam review committee recommendation to lease

by June 28th, 2019

The Jamaica Gasoline Retailers Association (JGRA) has stated its agreement with the Petrojam review committee’s recommendation, to lease the entity.

Yesterday, the Chris Zacca led committee gave an overview of its findings into the viability of Petrojam, and made several recommendations to include, that government exit active management of both the terminal and the refinery, through a long-term lease of Petrojam’s underlying assets.

JGRA President Gregory Chung said the association is planning to discuss the committee’s report at a meeting next week, after which a more detailed reaction will be given.

In giving an initial response, Mr. Chung said divesting Petrojam would be a good move.

He says if the final decision is to go with the recommendation to operate only terminal services, the JGRA would need to know more about storage capacity and source of supply.