Petrojam

What Petrojam does

Petrojam Limited is Jamaica's sole petroleum refinery and a state-owned enterprise fully owned by the Government of Jamaica. Founded in 1982 and headquartered at 78-96 Marcus Garvey Drive, Kingston, the company operates a 35,000 barrel-per-day hydroskimming refinery with an ISO 17025-accredited laboratory, producing gasoline (87 and 90 octane), auto diesel, ULSD, kerosene, propane, butane, asphalt, and heavy fuel oil (HFO). It also operates bunkering terminals at Kingston and Montego Bay for marine fuel supply and runs a minor export business selling surplus product to Trinidad and Tobago and historically receiving crude from Venezuela.

Petrojam serves three primary customer segments: the domestic distributive trade (wholesale fuel resellers), the Jamaican transportation sector, and residential/industrial end-markets (LPG for cooking, asphalt and HFO for industry), with the Government of Jamaica acting as both owner and policy-mandated energy security guarantor. The company sells ex-refinery at weekly prices indexed to US Gulf Coast Reference Prices under import parity principles, with published prices as of July 2026 ranging from J$76/litre (propane) to J$219/litre (ULSD). Ex-refinery direct sales, bunkering, exports, and accredited laboratory services constitute the four revenue streams.

The business operates under a regulatory monopoly position codified through multiple petroleum-specific Acts, and pursues incremental modernization through projects such as HFO-to-Asphalt conversion (completed 2023), feasibility studies for cleaner-fuels refinery upgrades (2025), and the Petrojam Refinery Expansion Project (PREP). With 242 high-skilled employees and over 30 years of safe operations, the company functions as a utility-like strategic asset for Jamaica's energy security rather than a commercially aggressive growth entity.

Name

Petrojam

Legal name

Petrojam Limited

Website

https://petrojam.com

Company type

Private

Founded year

1982

Operating status

Operating

Headcount range

101–250 employees

Short description

Petrojam Limited is Jamaica's sole state-owned petroleum refinery, operating a 35,000 bpd hydroskimming facility in Kingston that supplies gasoline, diesel, LPG, asphalt, and other refined products to the domestic distributive trade, transportation, industrial, and bunkering segments.

Ownership category

akta.pro rank

Product category

Petroleum Refining

NAICS

Petroleum Refineries (324110), Petroleum Refineries (32411), Petroleum and Coal Products Manufacturing (3241)

SIC

Petroleum Refining (2911), Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

Bunker Storage Terminals & Tank Farms (Onshore/Offshore) (TLAHAKAF)

akta.pro secondary industries

Liquid Bulk Petroleum Terminals (Crude, Refined Products) (TLAHABAH), Marine Bunkering & Port Fuel Supply (EUALAIAG), Conventional Marine Fuel Bunkering (HFO/VLSFO/MGO/ULSFO) (TLAHAKAA)

Keywords

• Petroleum refining
• Fuel supply
• Marine bunkering
• Asphalt production
• LPG distribution

Headquarters

HQ city

Kingston

HQ country

Jamaica

HQ region

Latin America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Petroleum Product Sales: Sale of refined petroleum products including gasoline, diesel, propane, butane, kerosene, asphalt, ULSD, and HFO to the domestic market. Products are competitively priced based on US Gulf Coast Reference Prices plus logistic costs, financing costs, and GOJ taxes.
2. Bunkering Operations: Marine fuel supply services at Kingston and Montego Bay terminals
3. Export Sales: Export of surplus petroleum products to regional markets including Trinidad and Tobago
4. Laboratory Services: ISO 17025 accredited testing services for petroleum products

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Petrojam operates a 35,000 barrel-per-day hydroskimming refinery that produces and supplies refined petroleum products including gasoline, auto diesel, ULSD, kerosene, propane, butane, asphalt, and heavy fuel oil to the Jamaican domestic market and regional export markets. The company also provides marine bunkering services at its Kingston and Montego Bay terminals and ISO 17025 accredited laboratory testing services for petroleum products.

Differentiator

Problem solved

Functional benefit

Products and services

• Gasoline 87 (Gasolene 87)

Quantifiable outcome

• 35,000 barrel per day production capacity
• +2 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered core and minor.

• MexicocoreStrategic or Co-development PartnerTrading partner that uses US Gulf Coast prices to determine value of petroleum products. Renews support for technical exchange programme with Petrojam.
• VenezuelacoreStrategic or Co-development PartnerTrading partner historically supplying crude oil to Petrojam under Petrocaribe Agreement. Uses US Gulf Coast prices for petroleum product valuation.
• TrinidadcoreStrategic or Co-development PartnerTrading partner that uses US Gulf Coast prices for petroleum product valuation. Petrojam has resumed fuel exports to Trinidad and Tobago.
• Petrojam Ethanol LimitedminorOthersSubsidiary company involved in ethanol operations, opened officially as part of Petrojam's portfolio.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Valero Energy: Valero is a large U.S. independent refiner with extensive Caribbean and Latin American product flows. It is a broad incumbent comparable as a refining industry benchmark for crack spreads, product mix, and operational efficiency vs. Petrojam's hydroskimming slate.
• PDVSA: PDVSA is Venezuela's state-owned integrated oil company with refining operations and historical crude supply ties to Petrojam via Petrocaribe. It is a broad incumbent comparable as a state-owned refining and crude supply counterparty in the Caribbean/Latin America region.
• Marathon Petroleum: Marathon Petroleum is one of the largest U.S. refiners with global refined product trading. It is a broad incumbent comparable as a refining industry peer used for benchmarking product yields, margin economics, and capex profiles relevant to Petrojam's operations.
• TotalEnergies Marketing Caribbean: TotalEnergies has significant Caribbean downstream and bunkering operations through its marketing affiliates. It is a broad incumbent comparable as a multinational refiner/marketer with bunkering and regional Caribbean distribution overlap with Petrojam.

Direct peers

• ARC Terminals: ARC Terminals operates petroleum and refined product storage terminals, including Caribbean facilities, providing bulk storage, blending, and throughput services. It is comparable to Petrojam's terminal and tank farm operations at Kingston and Montego Bay.
• Sol (formerly Hovensa): Sol is a Caribbean petroleum marketing and terminal group that acquired assets from the former Hovensa refinery in the U.S. Virgin Islands. It is a direct peer in Caribbean refined products distribution, terminal storage, and regional fuel supply.
• Petrotrin: Petrotrin was Trinidad and Tobago's state-owned petroleum refinery and is a historical regional peer to Petrojam as a Caribbean state-owned refiner serving domestic and export markets in the same trade flows.
• Buckeye Partners: Buckeye Partners operates a major network of refined petroleum product terminals and storage assets, including Caribbean exposure. It is a direct peer to Petrojam's bulk storage, terminaling, and refined product logistics operations.

Regional players

• Rubis SCA: Rubis is a French downstream group with significant Caribbean retail, fuel distribution, and bunkering operations. It is comparable to Petrojam as a Caribbean fuel distribution and marine bunkering peer, sharing similar end-markets and product slates.
• Puma Energy: Puma Energy is a major downstream fuel distributor with a large Caribbean footprint supplying refined products, bunkering, and bitumen. It is comparable to Petrojam as a regional fuel marketer and bunker operator serving overlapping Caribbean markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Petrojamjm
• Facebookfacebook.com/Petrojam-100262825786431
• LinkedInlinkedin.com/company/petrojam-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Petrojam