(Jamaica Observer) Prime Minister Andrew Holness says Jamaica needs to know within three months whether Venezuela is prepared to go ahead with upgrading the Petrojam oil refinery on Marcus Garvey Drive in Kingston.
“If we get our refinery upgraded, then that will answer the energy questions: It will answer our economic growth questions, the competitiveness question. The refinery is critical. It is one of those critical columns, we believe,” Holness told the Jamaica Observer during a one-on-one interview at the Office of the Prime Minister on Tuesday.
He admitted that the issue was the main focus of discussions he had with President Nicolas Maduro during the Venezuelan leader’s one-day visit to Kingston last month.
In response to critics who have underrated the benefits of those discussions, Holness said that if the agreement with Maduro to meet again in three months to decide on the matter is considered the only relevant achievement from their talks, then “it was a significant achievement”.
He said that the previous Government had protracted reaching a conclusion with Venezuela on the matter.
“I have narrowed it down to a three-month window for a decision, and we are pursuing it with all the seriousness and alacrity needed,” he told the Observer.
Asked what would happen if the three-month period elapsed with no decision, Holness said: “Well, I wouldn’t pre-empt the good faith of our Venezuelan friends. They have committed that there will be a decision… The spirit in which we negotiated was a spirit of friendliness and co-operation and mutual understanding. I think they understand that it is mutually beneficial to both Venezuela and Jamaica to have the refinery upgraded.
“I think that there are many alternatives that can be explored. Venezuela has 49 per cent ownership of the refinery, and this may be an opportunity for them to get some resources into their economy.”
Asked to respond to speculation that there are other parties interested in buying Venezuela’s stake in the refinery, Holness said: “I won’t say any further. This is an opportunity. They have an investment, they may not be able to make any more investment in it, but, who knows, they could bring other partners into the refinery. There are things that can be done which I am not going to discuss right now.”
