Guaido asks Jamaica not to seize PDVSA refinery shares

Monday, June 17, 2019

Print this page Email A Friend!

The ad-hoc board of Venezuela's State-run oil company, PDVSA, recently appointed by Opposition Leader Juan Guaido, says it has asked the Jamaican Government not to seize the company's shares in Petrojam, Reuters news agency has reported.

According to the Reuters report, the board made the request on Saturday and also warned the Andrew Holness Administration that “it cannot maintain any arrangements” with the Government of President Nicolas Maduro, whose legitimacy as Venezuela's leader is disputed“.

“We formally request the suspension of this expropriation process,” Reuters quoted the board as saying in a statement, adding that Guaido had made a similar request personally to Holness.

Reuters said that neither Holness's office nor Jamaica's foreign ministry immediately responded to requests for comment.

Jamaica owns 51 per cent of shares in the Petrojam refinery. In February, the Senate passed legislation clearing the way for the Government to acquire the 49 per cent stake in the refinery that PDVSA acquired in 2006.

In January, Guaido, the leader of Venezuela's Opposition-controlled National Assembly, declared himself interim president, arguing that Maduro's re-election last year had been “illegitimate”.

Guaido has since been recognised by more than 50 countries, including the United States and most of Latin America. But Maduro retains the loyalty of most of the military and important allies such as China and Russia.

Jamaica is not among the countries that have accepted Guaido's authority as interim president of Venezuela, but neither has the Government recognised the re-election of Maduro.

Guaido's representatives abroad have fought efforts by creditors of Venezuela's highly indebted Government to seize foreign assets belonging to PDVSA.

In January the US slapped sanctions on PDVSA as part of its bid to oust Maduro, which has contributed to a further drop in the OPEC nation's crude output following years of steady decline due to underinvestment and mismanagement.

Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at




1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed:

6. If readers wish to report offensive comments, suggest a correction or share a story then please email:

7. Lastly, read our Terms and Conditions and Privacy Policy

comments powered by Disqus



Today's Cartoon

Click image to view full size editorial cartoon