00:00Seeing that this transaction we've negotiated with Jamaica is the fulfillment of a commitment
00:05that I made to Jamaica. We began discussing, Minister Vaz began discussing with me,
00:11for the last two years, how could we promote the bilateral relationship with Jamaica. A zero
00:18barrier was set up because PetroTrim's refining was making billions of dollars in losses. It had
00:25gone from a positive to a negative. By the time it was shut down, we had to write off over $12
00:32billion in losses. So PetroTrim was no longer refining in a manner that it could be profitable.
00:40PetroTrim's refinery is also 175,000 barrels a day. The PetroJam refinery is a much smaller
00:49refinery at 38,000 barrels of oil today. So all this transaction is, is we've agreed,
00:56currently finalizing the negotiation to purchase about 500,000 barrels of marine fuel, which
01:03Paria has been purchasing. So it is a promotion of our bilateral relationship with Jamaica,
01:09of which I'm very proud because they're a close partner of ours,
01:12as well as CARICOM. This is what CARICOM is meant to be.
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