Jamaica Archives - Energy Analytics Institute (EAI)

ANALYSIS: PetroCaribe 2.0? Venezuela, Delcy and the future of oil diplomacy in the Caribbean

HOUSTON, TEXAS (By Pietro D. Pitts, Energy Analytics Institute, 12.May.2026, Words: 2087) — As Caracas courts Caribbean partners again — signaled most recently by a new deal with Barbados — Venezuela’s interim leader Delcy Rodríguez appears to be testing the waters for a PetroCaribe reboot. But any “PetroCaribe 2.0” will operate […]

LAC region to be impacted by uncertainty permeating from Trump’s US [tables]

HOUSTON, TEXAS (By Ofelia Paredes, Energy Analytics Institute, 6.Aug.2025, Words: 527) — “Rising trade barriers and heightened uncertainty globally are weighing on activity in Latin America and the Caribbean (LAC), particularly through exports, investment, remittances, and confidence channels,” the World Bank Group announced in a recent report. Other highlights from […]

Excelerate ups EBITDA guidance related to New Fortress Energy Jamaica deal [pdf download]

BATON ROUGE, LOUISIANA (By Steve Stewart, Energy Analytics Institute, 29.Jul.2025, Words: 230) — Excelerate Energy, Inc. raised its full year 2025 adjusted EBITDA guidance range related to the acquisition of New Fortress Energy Inc.‘s business in Jamaica. “Our recent acquisition in Jamaica marks a significant milestone in Excelerate’s strategic vision […]

Excelerate Energy closes $1.055bn acquisition of NFE’s business Jamaica

BELIZE CITY, BELIZE (Aaron Simonsky, Energy Analytics Institute, 14.May.2025, Words: 335) — Excelerate Energy, Inc. closed its $1.055bn acquisition of New Fortress Energy Inc.‘s business in Jamaica. Per the purchase agreement, Excelerate acquired the assets and operations of the Montego Bay LNG Terminal, the Old Harbour LNG Terminal, and the […]

Excelerate Energy announces proposed $700mn offering of senior notes due 2030

HOUSTON, TEXAS (Ian Silverman, Energy Analytics Institute, 21.Apr.2025) — Excelerate Energy, Inc. announced that its subsidiary Excelerate Energy Limited Partnership commenced an offering of $700mn in aggregate principal amount of unsecured senior notes due 2030. Net proceeds from the note offering as well as an equity offering previously consummated by […]

EAI’s 1Q:25 “NRG Prospector” full version [183-pg emag download]

HOUSTON, TEXAS (Editors at Energy Analytics Institute, 3.Apr.2025, Words: 20,000) — Download Energy Analytics Institute‘s 183-page full version of the 1Q:25 NRG Prospector, which is only available to paying subscribers. And, this special price break ends soon. The 1Q:25 full version includes updates, analysis, features, commentaries and coverage from exclusive coverage […]

Excelerate to acquire New Fortress Energy’s Jamaica business for $1.1bn [PDF download]

HOUSTON, TEXAS (By Excelerate, 27.Mar.2025, Words: 865) — Excelerate Energy, Inc. entered into a definitive agreement with New Fortress Energy Inc. (NFE) to acquire NFE’s business in Jamaica for $1.055bn in cash. Per the agreement, Excelerate will acquire the assets and operations of the Montego Bay LNG Terminal, the Old […]

US Secretary of State Marco Rubio Meets with High-level Caribbean Officials in Jamaica

PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 26.Mar.2025) — US Secretary of State Marco Rubio met with numerous Caribbean officials in Kingston, Jamaica as part of a US mission to strengthen its hemisphere’s security and counter transnational crime. “We’ll work together to crack down on illegal immigration, violence and […]

BMR Energy Divests Operating Plants in the Caribbean and Guatemala to InterEnergy

(Editors at Energy Analytics Institute, 13.Jan.2025) — BMR Energy LLC completed its reorganization and divestiture plan. The company has ﬁnalized the sale of its British Virgin Islands affiliate and holdings in 5 operating renewable energy projects across Jamaica, the US Virgin Islands, the Cayman Islands, and Guatemala to InterEnergy Group […]

Trinidad and Tobago Energy Conference 23-25 January 2023

(Trinidad and Tobago Energy Chamber, 15.Dec.2022) — The Trinidad and Tobago Energy Conference takes place at the Hyatt Regency in Port of Spain from 23-25 January 2023. Background The oil and gas industry has a central role to play in the energy transition globally, regionally and locally. Over the past […]

NRGBriefs: Caribbean Monthly Economic Report June 2022

(Energy Analytics Institute, 24.Jun.2022) — Energy briefs including economic details not limited to inflation reaching 11.2% y/y in 1Q:22 in the Cayman Islands, Hurricane Agatha causing severe flooding in Cuba in June 2022; Guyana’s Natural Resource Fund hitting $643.98mn in May 2022; Suriname’s real GDP growth is expected to reach […]

Cuba Exceeds Fuel Import Budget: April 2022 Caribbean Monthly Economic Report

(Energy Analytics Institute, 25.Apr.2022) — Cuba exceeded its fuel import budget in the first quarter due to higher fuel prices while Trinidad & Tobago is expected to experience a “balance of payments crisis this year “absent significant reforms and economic recovery,” Caribbean Region Economist Marla Dukharan wrote 25 April 2022 […]

Shell Among Companies Chasing Ecuadorian Oil After Russia Sanctions

(Bloomberg, 16.Mar.2022) — U.S. refiners Valero Energy Corp and Marathon Petroleum Corp., along with Shell Plc’s trading unit Shell Western Supply and Trading, are rushing to secure Ecuadorian barrels after America banned imports of Russian crude. Ecuador’s state oil company EP Petroecuador held back-to-back meetings this week in Louisiana with several refiners and […]

Geophyxs’s Search for Gold Continues

(Jamaica Observer, 2.Jan.2022) — Mineral exploration company Geophysx Jamaica Limited following preliminary findings from a series of exploration activities done locally has moved to roll-out phase three of the project, through which it seeks to confirm commercial finds in gold, copper and rare earth minerals. “We have now completed the first […]

Record Gas Prices in Jamaica

(Jamaica Observer, 30.Dec.2021) — Pump prices touch a new record today after jumping by the most in two months. Petrojam on Wednesday hiked the price of a litre of both grades of gasoline by $3. That was the most those prices have gone up since October 28. The increase takes […]

Banks Express Belief in Caribbean Renewable Energy Future

(Jamaica Observer, 29.Dec.2021) — Even with Jamaica not having any new request for proposal (RFP) since early 2016, more banks and other lenders have begun to embrace their role in de-carbonising the grid and facilitating the growth of renewable energy projects. This comes after CIBC FirstCaribbean International Bank (CIBC FCIB) […]

NRGBriefs: CFIUS Approves Pemex’s Deer Park Refinery Purchase

(Energy Analytics Institute, 22.Dec.2021) — Energy briefs including Chile being chosen for the 2nd consecutive yr as the most attractive emerging mkt to invest in renewable energies in the LatAm region; AkerSolutions crossing the 36% mark in terms women among all hired personnel in Brazil; the Committee on Foreign Investment […]

West Indies Petroleum Wins in Lime Tree Refinery Auction

(Jamaica Observer, 22.Dec.2021) — News portal, the Virgin Islands Consortium, reports that Jamaica-based West Indies Petroleum (WIP) won an auction for the Lime Tree Bay Refinery with its bid of US$62 million on Saturday, December 18, 2021. Lime Tree Bay Refinery is located on the south shore of St Croix in […]

NRGBriefs: Renewable Energy Ops In The Caribbean

(Energy Analytics Institute, 15.Oct.2021) — Energy briefs including details of four renewable energy-exporting opportunities in the Caribbean in Barbados, Jamaica, Trinidad and Tobago and Guyana; TotalEnergies extending the contract for the Maersk Voyager in Angola for Ondjaba-1; and more. EVENTS — The Caribbean Renewable Energy Forum 2021 takes place from […]

Sagicor Group Jamaica Finances Leaseback

(Sagicor, 17.Jun.2021) — Sagicor Group Jamaica will be structuring a $285mn sale and leaseback of the combined heat and power plant in Clarendon owned by New Fortress Energy Inc. (NASDAQ: NFE). The transaction will be the largest corporate financing in Jamaica’s history. As anchor investors in the transaction, Sagicor Group […]

Petrol Retailers Warn Of ‘Mobile’ Gas Stations

(Jamaica Observer, 29.Jul.2020) — The Jamaica Gasoline Retailers Association (JGRA) on Monday last warned a parliamentary committee reviewing the proposed Occupational Safety & Health (OSH) Act, 2017 at Gordon House, to consider a developing trend of “mobile” petrol stations. According to JGRA President Gregory Chung, the association is aware of […]

Tullow Writes Off Jamaican Oil Exploration Licence

(Jamaica Gleaner, 20.Mar.2020) — Tullow Oil Plc has fully written off its oil exploration licence for the Walton-Morant Basin offshore Jamaica, on which it has taken a US$36-million hit. The write-off relates to what the company indicated in its most recent earnings report was the relinquishment of the Walton-Morant licence […]

Fallout From Sweet Oil Deal For Venezuela’s Neighbors

(NPR, 20.Jul.2019) — It sounded like such a good idea at the time. The year was 2005. Global oil prices were climbing dramatically. Countries in the Caribbean were facing major fuel shortages. Venezuela, one of the world’s largest producers of crude, offered to ease the staggering fuel costs faced by […]

Ad Hoc PDVSA Board Suggest Jamaica Suspending Petrojam Takeover

(Energy Analytics Institute, Piero Stewart, 16.Jun.2019) — The ad hoc administrative board of Petróleos de Venezuela (PDVSA) appointed by interim Venezuelan president Juan Guaidó requested that the government of Jamaica suspend the “illegal expropriation” of the shares of PDVSA Caribe in Petrojam, approved by the Jamaican parliament in February 2019, […]

JPS To Get Tax Break On Lithium Batteries

(Jamaica Gleaner, Neville Graham, 9.Jun.2019) — Light and power supplier Jamaica Public Service Company (JPS) is in line for a tax break as it follows through on plans to add storage capacity to the national grid. Last week, State Minister in the Ministry of Industry, Commerce, Agriculture and Fisheries Floyd […]

LSC Expanding Rockfort Lubricants Facility

(Jamaica Gleaner, 5.Jun.2019) — Lubricating Specialties Company (LSC) is adding another 500,000 gallons in capacity at its facility in Rockfort, Kingston, for which it already has the green light from regulator National Environment and Planning Agency, NEPA. LSC operates the former Shell lubricants facility, a 1.2-million capacity plant at Rockfort, […]

Wigton Windfarm Shares To Be Listed Soon On Jamaica Stock Exchange (JSE)

(Jamaica Observer, Balford Henry, 17.May.2019) — The Petroleum Corporation of Jamaica (PCJ) says that the Wigton Windfarm IPO shares will be listed and begin trading on the main market of the Jamaica Stock Exchange (JSE) on Wednesday, May 22. In an update on the developments since the massive Wigton Windfarm […]

SOL Petroleum To Shutter Businesses In Jamaica

(Jamaica Observer, Karena Bennett, 8.May.2019) — SOL Petroleum Jamaica Limited will shutter its lubricant and bunkering business across the island, effective June 30. The announcement comes six years after Simpson Oil Limited (SOL) launched its business in Jamaica following the acquisition of Shell’s marketing and service station operations by French […]

Wigton Has Saved Jamaica $54 Million In Oil Imports

(JIS News, Serena Grant, 15.Apr.2019) — Minister of Science, Energy and Technology, Hon. Fayval Williams, says that Wigton Windfarm Limited has saved the Government expenditure of over US$54 million in oil imports. The production of clean energy from the facility has enabled the country to avoid the purchase of 800,000 […]

JPS Invests $25m In Storage Facility To Address Power Fluctuations

(Jamaica Gleaner, Steven Jackson, 14.Apr.2019) — Power utility Jamaica Public Service Company, JPS, will commission a US$25 million storage facility in phases this year as a safeguard against power outages. The 24.5 megawatt plant, the first of its kind for Jamaica, will be installed at the company’s Hunt’s Bay power […]

$4b Energy Deal – Inter-Energy Acquires JPPC From I Squared Capital

OPEC Releases MOMR With Data Thru Feb. 2019

(Energy Analytics Institute, Piero Stewart, 14.Mar.2019) — OPEC announced publication of its Monthly Oil Market Report (MOMR) as of 14 March 2019 with details on producers in Latin America and the Caribbean from Venezuela, Ecuador, Brazil, Colombia, and Mexico. *** © Energy Analytics Institute (EAI)