Monthly Archives: September 2012

//September

Gas Stations To Reject Credit Cards

The Jamaica Gasolene Retailers Association (JGRA), says as of October 1, service stations will no longer accept Master or Visa credit cards for fuel sales. However, it said traditional debit cards will be accepted. In August, members of the association agreed to stop accepting credit cards as part of cost saving measures. The JGRA has [...]

By | 2012-09-27T13:38:43+00:00 September 27th, 2012|

State Cancels Oil Driller’s Licence

FOLLOWING THE revocation of an exploration licence, which was granted to Rainville Energy Corp, a subsidiary of Sagres Energy, to drill for oil, Energy Minister Phillip Paulwell has signalled that another company that was granted a licence could have it cancelled if they don't begin drilling soon. The Petroleum Corporation of Jamaica yesterday said the [...]

By | 2012-09-27T13:35:39+00:00 September 27th, 2012|

PCJ yanks oil exploration licence

THE Petroleum Corporation of Jamaica (PCJ) has pulled oil exploration rights from Rainville Energy. The Canadian outfit's licence was revoked due to its failure to meet its financial obligations.

By | 2012-09-27T13:26:49+00:00 September 27th, 2012|

JPS To Stick With LNG Plant

Kelly Tomblin, president of Jamaica Public Service Company. - Ian Allen / Photographer Power distributor Jamaica Public Service Company (JPS) remains committed to using liquefied natural gas (LNG) for its planned 360-megawatt power plant despite Government's expected plan to scrap the supply of gas for the project, according to the utility's boss. The private sector [...]

By | 2012-09-26T15:56:02+00:00 September 26th, 2012|

EXIM Lowers Energy Loan Rates

EXIM Bank Jamaica has again cut lending rates on its renewable energy loans for investment in energy-efficient equipment. The new rate on offer to small and medium enterprises in the productive sector is 8.5 per cent for Jamaican dollar loans, down from 9.75 per cent last September. The USD rate 5.75 per cent. "We know [...]

By | 2012-09-26T12:19:30+00:00 September 26th, 2012|

Oil Drops Below US$92

Worries about weaker economic growth dragged down oil prices Monday. Oil has now fallen five of the last six trading days. It fell more than six per cent last week. Benchmark crude fell 96 cents, or one per cent, to finish at US$91.93 a barrel on the New York Mercantile Exchange. Prices for other petroleum [...]

By | 2012-09-25T15:16:07+00:00 September 25th, 2012|

Opposition concerned over gov’t plans to abandon LNG

Opposition Spokesman for Industry, Commerce and Energy, Gregory Mair says he's seriously concerned with reports that the government has abandoned plans to introduce Liquefied Natural Gas. In a statement today, Mr. Mair said Energy Minister, Phillip Paulwell needs to address the country forthwith on what he calls a disturbing development and state clearly the government

By | 2012-09-25T15:05:02+00:00 September 25th, 2012|

Cancellation of LNG project could cause fallout in investment community

Gregory Mair There's a warning that Jamaica could suffer some fallout in the international investment community arising from the Government's decision to change plans for the implementation of the multi-billion dollar liquefied natural gas, LNG project. According to Opposition Spokesman on Energy, Gregory Mair, the country's image will be tarnished in light of the fact [...]

By | 2012-09-25T14:56:56+00:00 September 25th, 2012|

EDITORIAL – Gov’t Must Come Clean On LNG

It is high time the Simpson Miller administration end the pussyfooting and come clean on the liquefied natural gas (LNG) project. For its policy-by-dribble is both confusing and confidence-draining and risks doing grave damage to the Jamaican economy. First, let us place things into perspective. It is our view that alongside credible fiscal policies - [...]

By | 2012-09-25T13:02:23+00:00 September 25th, 2012|