Press Release – Attorney General Advice to Guide Next Steps in Petrojam Share Acquisition Development

The Attorney General’s Chambers will advise on the next steps to address the legal developments in the compulsory shares acquisition of the local oil refinery, Petrojam Limited.

Minister of Science, Energy and Technology, the Honourable Fayval Williams confirms receipt of a letter dated June 10, 2019 from attorneys-at-law Hylton Powell.

The letter advised that the law firm acts for and on behalf of PDV Caribe, S.A. in the Claim to Compensation by PDV Caribe, S.A. This is in pursuant to the Compulsory Acquisition (Shares in Petrojam Limited) Act, 2019. PDV Caribe S.A., is a subsidiary of Petroleos de Venezuela (PDVSA).

The letter and accompanying attachments were submitted to the Attorney General’s Chambers for guidance.

Additionally, on June 6, 2019, Minister Williams received a letter dated June 1, 2019 from the Special Attorney General of the Bolivarian Republic of Venezuela, concerning the Compulsory Acquisition (Shares in Petrojam Limited) Act 2019. 

Similarly, this correspondence was forwarded to the Attorney General’s Chambers for advice.

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