Energy minister paints grim picture of challenges faced by Petrojam, due to sanctions imposed on Venezuela

by February 20th, 2019

Energy Minister Fayval Williams has painted a grim picture of the daily challenges faced by Petrojam, due to sanctions imposed on Venezuela by other countries, including the United States.

Speaking in Parliament yesterday (February 19), Mrs. Williams noted that these challenges have further prompted the government to act now, with regards to the compulsory acquisition of Venezuela’s shares in the oil refinery.

Mrs Williams pointed out that despite Petrojam not being a sanctioned entity, it is being treated as such.

In addition to issues with international banking, she informed that Petrojam has been left scrambling at the last minute to get oil off ships that have been blocked from coming in.