Jamaica has exported 4.5 million barrels of petroleum products since the start of 2024, generating more than US$500 million in export earnings—largely from sales to Trinidad and Tobago.
Science, Energy, Telecommunications and Transport Minister, Hon. Daryl Vaz, made the disclosure during Tuesday’s (May 20) Sectoral Debate in the House of Representatives. He highlighted a major milestone: a new contract to supply Trinidad and Tobago with both high-sulphur and very-low-sulphur fuel oil, projected to generate J$14 billion (US$90 million).
He said that the deal will further strengthen Jamaica’s energy trade position in the region.
“Despite some challenges, Petrojam continues to make a strong contribution to national revenue. The necessary steps will be taken to ensure that this continues,” he said.
Between January and December 2024, the Government, through Petrojam, supplied 11.1 million barrels of petroleum products to both domestic and export markets.
“This volume was achieved through a combination of refining and importing finished petroleum products. Crude oil was sourced from key partners, including Barbados, Brazil, Colombia, and Ecuador, ensuring a diversified and stable supply chain,” Minister Vaz told the House.
Looking ahead, Minister Vaz said Petrojam will focus on optimizing operations while advancing cleaner energy solutions over the next three to five years. Plans include the production and supply of ultra-low sulphur diesel (ULSD), expanding access to environmentally friendly fuels, and strengthening the liquefied natural gas (LNG) supply to support energy diversification.
The strategy also supports Jamaica’s climate change agenda through a robust Environmental, Social, and Governance (ESG) framework, greater use of solar energy, improved refinery efficiency, and increased production of sustainable biofuels.
