Jamaica has moved a step closer to forcibly taking back the 49 per cent stake in Petrojam that is held by Venezuelan state-owned oil company, PDVSA Caribe SA.
The development follows the approval of a Bill in the House of Representatives Tuesday night, after a more than five-hour-long debate along partisan lines that was at times contentious.
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If this Bill is approved in Jamaica, I hope all international investors will take note of the risk posed by investing in Jamaica. Will jamaica do this to investments owned by the US. and UK governments? What are the implications for future relations with Venezuela 10, 20 , 30 years from now?
DNO could you ask Papa skerrit if we will be able to buy PetroCaribe oil once the USA puts santions on Venezuela. How will USA santions affext Dominica, will we be able to seamlessly transition to another oil seller. Thanks.
This is a welcome good move by Jamaica, our sister island. I am that this initiative resonates with the poor people and everyone of Jamaica.
Venezuela is a failed sate and has been since Papa Chavez. This government then abused the resources of Venezuela and now there is a du=bud driver just like Skerrit who are immature to what it takes to run and manage a country so challenged.
Mudora nd Skerrit must Go.
If this Bill is approved in Jamaica, I hope all international investors will take note of the risk posed by investing in Jamaica. Will jamaica do this to investments owned by the US. and UK governments? What are the implications for future relations with Venezuela 10, 20 , 30 years from now?
Are we now about to see the final days of Maduro? Jamaica was one of Maduro’s strongest Caribbean ally and to see them vote to take back the 49 per cent stake in Petrojam that is held by Venezuelan state-owned oil company, is no doubt a punch in the face of Maduro as pressure from the US, is no doubt the main reason for this. I know Dominica has no shares but I wonder if Skerrit himself has any. If so he better move it, if he can before Trump blows his trumpet on him
Good move Jamaica .When the Americans take over Venezuela’s oil wealth and foreign investments the J A investment will be safe at home. Jamaica has historic experience with its buxite resources.