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2010-01-05 09:06:59 | (0 Comments)
The Energy Minister says within another 60 days, he will provide an update on the proposed expansion of the state-owned oil refinery, Petrojam.
However, Mr. Robertson says all is now set for negotiations with the South Korean entity, which will undertake the construction and the Japanese company, which will finance the US$1.2 billion project.
Petrojam was built in 1963. It has a capacity to refine 36,000 barrels of crude oil a day, but is being outpaced by market demand because of its technology and age.
The planned expansion will increase daily oil production to 56,000 barrels a day and make the plant capable of processing heavier crudes, which would be more cost effective.
http://go-jamaica.com/news/read_article.php?id=15712
The Energy Minister says within another 60 days, he will provide an update on the proposed expansion of the state-owned oil refinery, Petrojam.
However, Mr. Robertson says all is now set for negotiations with the South Korean entity, which will undertake the construction and the Japanese company, which will finance the US$1.2 billion project.
Petrojam was built in 1963. It has a capacity to refine 36,000 barrels of crude oil a day, but is being outpaced by market demand because of its technology and age.
The planned expansion will increase daily oil production to 56,000 barrels a day and make the plant capable of processing heavier crudes, which would be more cost effective.
http://go-jamaica.com/news/read_article.php?id=15712
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