Jamaica Making Progress in Negotiation of Buyback of PetroJam Shares


The Holness administration says it has made progress in talks with Venezuela to buy back that country’s 49-percent stake in the state-owned oil refinery, Petrojam.

Foreign Minister, Senator Kamina Johnson-Smith, was asked about the issue during a media conference which was held today at her Ministry’s New Kingston headquarters.

Minister Johnson-Smith says the government will not be negotiating in public.

However, she noted that communication was received earlier this week from Venezuela about the buyback offer.

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Minister Johnson Smith says the correspondence suggests that progress is being made.

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