Caribbean Journey
Jamaica Just Did The UNTHINKABLE To Trinidad's Oil Empire
For sixty years, Trinidad and Tobago was the undisputed energy superpower of the Caribbean the country every other island depended on for fuel. That changed in 2025, when Jamaica's state owned refinery, Petrojam, signed contracts worth more than $140 million USD to export refined oil products directly into Trinidad's own fuel supply chain.
Here's the part almost nobody is reporting properly: Trinidad's own century old refinery at Pointe-à-Pierre was shut down completely in 2018 after racking up billions of dollars in losses. Today, Trinidad imports 100% of its refined fuel domestically and Jamaica, a country with zero crude oil reserves of its own, is one of the suppliers now filling that gap.
This is verified, sourced analysis not hype. Every figure in this video is drawn from official government statements and reported financial disclosures, cited below.
WHAT YOU'LL LEARN IN THIS VIDEO:
• Why Jamaica built Petrojam in the 1980s and nearly shut it down multiple times
• The real reason Trinidad has no working domestic refinery today
• The exact structure and value of the two 2025 export contracts
• How Jamaica's foreign exchange reserves and currency stability are impacted
• What this means for diaspora remittances, investment, and job opportunities
• Where Caribbean energy trade is heading next including Guyana's rising role
If you're Jamaican, Trinidadian, Guyanese, or from anywhere else in the Caribbean and watching from overseas, we want to know: does this change how you think about investing back home? Drop a comment we read every one, and it shapes what we cover next.
FREQUENTLY ASKED QUESTIONS:
Does Trinidad and Tobago have a working oil refinery?
No. Trinidad's state refinery at Pointe-à-Pierre, formerly operated by Petrotrin, was shut down in November 2018 after accumulating billions of dollars in losses. The refinery remains mothballed, and Trinidad's state fuel distributor, Paria Fuel Trading Company, now imports 100% of the country's refined fuel needs from international and regional suppliers.
Why is Jamaica exporting oil to Trinidad if Jamaica has no crude oil reserves?
Jamaica has no domestic crude oil, but it operates a refinery, Petrojam, built in the 1980s in Kingston. Jamaica imports raw crude oil, refines it domestically into finished products like fuel oil, and exports the higher-value refined product. This is refining margin capture, not resale arbitrage.
How much are Jamaica's oil export contracts with Trinidad worth?
Petrojam signed a contract valued at approximately $90 million USD for nearly one million barrels of fuel oil, plus a six month agreement with Paria Fuel Trading worth roughly $50.2 million USD for 540,000 barrels, bringing the combined value of the 2025 contracts to more than $140 million USD.
What is Petrojam?
Petrojam is Jamaica's state-owned petroleum refinery, located in Kingston Harbor. Established in the 1980s, it has a processing capacity of approximately 35,000 barrels of crude oil per day and produces gasoline, diesel, jet fuel, LPG, and fuel oil.
How does this affect Jamaican and Caribbean diaspora abroad?
Increased foreign exchange earnings from oil exports help stabilize the Jamaican dollar, which directly affects the value of remittances sent from the UK, US, and Canada. It also strengthens Jamaica's international investment reputation and creates skilled technical employment opportunities in engineering, logistics, and refinery operations.
SOURCES CITED IN THIS VIDEO:
• Jamaica Observer "Petrojam lands US$90-m Trinidad fuel deal," February 2025
• Caribbean National Weekly / CNW Network "Jamaica's Petrojam to export oil to Trinidad," February 2025
• Caribbean Today "Petrojam Pleased With New Contract Arrangement With Trinidad and Tobago," May 2025 (Sectoral Debate, House of Representatives)
• Trinidad Express "Sagewan calls for transparency on Petrojam deal," February 2025
• RJR News / Radio Jamaica "Petrojam Signs US$90M Fuel Supply Deal With Trinidad & Tobago"
• NCB Capital Markets Ltd. Research Note: "Jamaica's Petrojam to Export Oil to Trinidad"
• Trinidad Express "OWTU buys 'Petrotrin refinery' with US$700m bid," 2019
• Oxford Business Group "Trinidad and Tobago restructures state oil firm," The Americas 2020 Report
• Wikipedia / Trinidad Petroleum Holdings corporate restructuring records
• Petrojam Limited official press release, "Petrojam Resumes Fuel Exports to Trinidad & Tobago"
#Jamaica #TrinidadAndTobago #CaribbeanEconomy #Petrojam #CaribbeanNews #OilAndGas #CaribbeanDiaspora #JamaicaNews #CaribbeanBusiness #KingstonJamaica #WestIndies #CaribbeanJourney #JamaicaEconomy #TrinidadEconomy #CaribbeanOil
Published Aug 7, 2026