Lennox McLean

Petrojam Limited

STRUCTURE OF COMPANY Petrojam is a limited liability company; jointly owned by PDVCaribe, a subsidiary of Petróleos de Venezuela (PDVSA) and the Petroleum Corporation of Jamaica (PCJ). The PCJ is a statutory body created and wholly owned by the Government of Jamaica. HISTORY Petrojam was established in 1982 when the Government of Jamaica purchased the Esso Kingston Refinery, which had been built, and operated by Esso since March 1964. In 2006 the Government of Jamaica sold 49% of its shares to PDVCaribe. OVERVIEW OF ACTIVITIES Petrojam supplies Jamaica with a full range of domestic, transportation and industrial petroleum products. The company focuses primarily on meeting the needs of the national market, and does this through a mix of refining and importation of finished products. Customers served include the Power Producing; Aircraft Refueling; Multinational and Local Marketing companies Shipping Activities Petrojam Shipping manages the vessels used in its marine operations. Petrojam owns a tug/barge and charters vessels as required to effect movement of crude and finished products into the country. The vessels are also used to make round island movements with products for Power producers and to Petrojam's Montego Bay Terminal. Bunkering Operations A supply agreement with AEGEAN Marine Petroleum SA Ltd. of Liberia through its local subsidiary AEGEAN Bunkering Jamaica Ltd. for sale of bunker fuels for vessels outside of Kingston.