Petcom Archives - SolarBuzz Jamaica

Enterprise team to oversee Petcom’s divestment

April 26, 2013 Webmaster

THE Government, after more than 10 years trying to divest the Petroleum Company of Jamaica Limited (Petcom), has set up an enterprise team for the privatisation of the entity.

“Mr Erwin Jones, chairman of Petrojam, will lead this team. We are currently having a valuation of the company’s assets done and we will announce more as information becomes available,” Energy Minister Phillip Paulwell told Parliament yesterday during his contribution to the 2013/14 Budget Debate at Gordon House in Kingston.

Petcom has a service station network of some 28 stations in Jamaica

Paulwell, arguing that Petcom has been a strategic asset in the petroleum marketing sector, said he hoped that the entity would remain a strong player in the market. “Again, I encourage local investors to participate in the ownership of this important Jamaican asset,” the minister told the House.

Petcom

Petcom takes over prime gas station site

September 13, 2012 jrobinson

Petroleum Company of Jamaica (Petcom) has entered into a dealership arrangement with the family of the late Lloyd ‘LG’ Brown to operate a service station at the intersection of Dunrobin and Constant Spring roads in St Andrew.

It’s part of the state-owned gasoline retailer’s strategy to procure a greater share of the overall petroleum retail market of which it now controls only 12 per cent. Petcom increases its service station chain to 29 with the deal.

Acquisition of the former LG Service Station puts Petcom in a position to profit at one of the major intersections in St Andrew (Photo: Naphtali Junior)

“Petcom is currently on a drive to expand our service station network and therefore we have been actively looking for strategic locations, particularly in the Corporate Area,” said the company’s general manager, Courtney Lawes.

“Our new location, Petcom Dunrobin, is not only a popular service station but it has the additional advantage of being situated in a high-traffic area,” said Lawes.

Government figures show that three major multinational oil companies