The Government is reiterating its commitment to safeguarding the country’s energy security and assures that it has made the right decision to retake ownership of the 49 per cent shares in Petrojam held by the Venezuelan state-owned oil and natural gas company, PDV Caribe.First announced last week, the Government said it would be taking legislative action in furtherance of obtaining the shares and would begin the formal process in Parliament in short order.At a press conference at the Office of the Prime Minister today (January 14), Foreign Affairs and Foreign Trade Minister, Senator the Hon. Kamina Johnson Smith, emphasised that the decision taken was out of recognition of a number of important factors.These include the numerous efforts and need to upgrade the refinery from as far back as 2006, the Jamaica Public Service Company (JPS) decision to convert to liquefied natural gas (LNG) in 2019 as well as the fact that JPS makes up 50 per cent of Petrojam’s market.Additionally, new international regulations will make it difficult for Petrojam to sell heavy fuel oil and process it as it now does, which takes effect on January 1, 2020; and banking and operational risks caused by domestic and hemispheric issues and challenges experienced by Venezuela.“Accordingly, it is important and in the interest of the Jamaican people that the Government of Jamaica take decisive and clear action. We are, as a Government, committed to ensuring that we do our very best to make decisions that will secure our energy sector in the interest of the Jamaican people, notwithstanding our appreciation or work with third-party states,” she said.Senator Johnson Smith said the decision was not made without recognition and appreciation of the “space that the Petro Caribe arrangements gave us and the relationship between Venezuela and Jamaica that dates back to the days of Simón Bolívar seeking refuge in Jamaica”.She advised that the Government did make attempts to offer incentives to the Venezuelan Government in the hopes of them selling the shares. However, there has been no take-up.“We did not just offer fair market value, we offered three times that at the first instance and at the second instance. We then increased it further in November (2018),” she said.
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Company News Mortgage Contracting Services 2014-04-29 Colin Robins Mortgage Contracting Services’ (MCS) CEO, Caroline Reaves, and Louisiana Governor Bobby Jindal announced Tuesday the company will create 90 new jobs in Ruston, Louisiana, while doubling the size of its business process outsourcing center to more than 20,000 feet.The company’s expansion was originally slated to hire 90 new employees by 2017 to serve the mortgage industry but was able to begin hiring full-time in August 2012, hiring all 90 employees three years ahead of schedule.The company plans to expand further, creating 90 new jobs.Governor Jindal said, “We are proud that MCS is doubling its staff and continuing to invest in Louisiana. MCS joins a growing list of companies that are investing in Louisiana because we have fostered a positive business environment with a workforce that is second to none. Today’s announcement is great news for Lincoln Parish and our state as we continue to build an outstanding business climate, provide new career opportunities and establish Louisiana as the next great state for business opportunity.”Founded in 1986, MCS works with major mortgage servicing firms to maintain vacant properties and to protect and preserve neighborhoods from blight.”When we opened the Ruston center, we immediately knew that this community was a perfect fit for our company, but we still were a little surprised by the pace of growth,” Reaves said. “We are in a position where we have almost met our five-year business plan in less than two years. That doesn’t happen unless you have the support of the community and outstanding employees dedicated to client service.”The company began working with the State of Louisiana and the City of Ruston’s economic development office in January 2014. Louisiana assisted MCS in using the state’s Enterprise Zone incentive.”I would like to thank Caroline Reaves and the MCS family for the continued investment and job creation you have brought to Ruston,” Ruston Mayor Dan Hollingsworth said. “MCS is truly a great fit for our community.” April 29, 2014 496 Views Share MCS Announces Plans to Expand Process Center in Headlines, News, Uncategorized
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