Petrojam is advancing its project to convert heavy fuel oil into asphalt with completion expected in the first quarter of the 2025-26 fiscal year.
The project includes new facilities that will increase asphalt production from 4,000 to 19,000 barrels per day for local use and export.
Energy Minister Daryl Vaz noted Petrojam plans to refine 8.2 million barrels of crude oil supplemented by imports to maintain a stable energy market.
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