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JAMAICA | AG's Chambers to advise Gov't on PDVSA Share Seizure

Minister of Science, Energy and Technology, the Honourable Fayval Williams has confirmed receipt of a letter dated June 10, 2019 from attorneys-at-law Hylton Powell. Minister of Science, Energy and Technology, the Honourable Fayval Williams has confirmed receipt of a letter dated June 10, 2019 from attorneys-at-law Hylton Powell.
KINGSTON,  Jamaica June 18, 2019 - Following the request from Venezuela's Juan Guido for the Jamaican government to reconsider  seizure of  Venezuelan interest in Petrojam, Jamaica's Attorney General is to advise on the next steps to address the legal developments in the compulsory shares acquisition of the local oil refinery, Petrojam Limited. 

In a media release today, Minister of Science, Energy and Technology, Fayval Williams confirmed receipt of a letter dated June 10, 2019 from attorneys-at-law Hylton Powell.

The letter advised that the law firm acts for and on behalf of PDV Caribe, S.A. in the Claim to Compensation by PDV Caribe, S.A. This is in pursuant to the Compulsory Acquisition (Shares in Petrojam Limited) Act, 2019. PDV Caribe S.A., is a subsidiary of Petroleos de Venezuela (PDVSA).

The letter and accompanying attachments were submitted to the Attorney General’s Chambers for guidance.

Additionally, on June 6, 2019, Minister Williams received a letter dated June 1, 2019 from the Special Attorney General of the Bolivarian Republic of Venezuela, concerning the Compulsory Acquisition (Shares in Petrojam Limited) Act 2019. 

Similarly, this correspondence was forwarded to the Attorney General’s Chambers for advice.

A law was passed in February to re-take the 49 per cent shares in Petrojam previously owned by PDVCaribe.
 
Commenting on Twitter on Monday, Foreign Affairs Minister Kamina Johnson Smith said the Government anticipated that there would be a claim or claims for compensation.

A law was passed in February to re-take the 49 per cent shares in Petrojam previously owned by PDVCaribe.

Last modified onWednesday, 19 June 2019 00:17
  • Countries: Jamaica

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