By McPherse Thompson, Assistant News EditorJAMAICA HAS enough fuel to last for another four to five weeks, and the country has put in place measures to secure adequate supplies of crude from Ecuador and other sources, says one senior government official.
Conroy Watson, energy director in the Ministry of Commerce, Science and Technology, also said that while Petrojam, the island's sole oil refinery, will not be processing crude for another three to four weeks as it undergoes a planned maintenance programme, processing should be back on stream before the current supplies run out.
Mr. Watson has also confirmed that there was a plan in place to buy 12,000 barrels per day of crude from Ecuador, which has been playing a greater role in supplying Jamaica since an oil strike began in Venezuela just over four months ago.
"We usually get crude from Mexico, Venezuela, Ecuador and in the open market, but with the crisis in Venezuela now, Ecuador is playing a greater role than it used to," said Mr. Watson.
Although he would not specifically say at what price Jamaica was buying from Ecuador, the energy director said "it changes everyday," largely because of the United States-led war on Iraq, but it bore some relationship to the price on the international market.
Yesterday, world oil prices shot up as Iraq resisted the United States military thrust towards its capital Baghdad, and tribal violence in Nigeria kept shut nearly 40 per cent of the country's crude output.
US light crude increased by 61 cents to $29.27 a barrel after a $1.75 increase on Monday, while Brent crude went up 45 cents to $26.54 a barrel.
The price of fuel on the local market has steadily increased during the past few months as countries stockpiled in anticipation of a long war with Iraq, but fell after the war started with hopes that the battle would be short. Last week, Petrojam itself reduced its billing prices in reaction to the reduction in international prices. However, world prices again started its upward climb on Monday as confidence in a quick war waned over the weekend when US and British forces suffered casualties and reported slower progress in taking Iraq.
Mr. Watson said Jamaica has continued to emphasise an energy conservation programme put in place a while back to assist in reducing the country's dependence on imported fuel. In addition, a task force comprising representatives of the Private Sector Organisation of Jamaica; Ministry of Commerce, Science and Technology; the Petroleum Corporation of Jamaica; Ministry and Land and Environment, and the Jamaica Public Service Company, came together to determine how the country could further conserve energy at this time.
"We have identified various sources from which we can get oil. It's just the price" about which Jamaica is concerned, said the energy director. Last year, Jamaica spent just over US$600 million to import its energy supplies. The bill is expected to exceed that amount by around US$200 million this year, but Mr. Watson said it was too early to give a more definitive figure.
