Petrotrin update: now Trinidad Petroleum Holdings Ltd

[car]

I don't know of the salaries statement exactly (still believe they are over-compensated permanent anyway) but yes Petrotrin has a problem with retaining talent, many leave after 8-15yrs. to go abroad or to one of the foreign multi-nationals.

**Edited**

Oh and how about this one "dem boy doh stay here long, once dey get experience dey gone."

I feel I know who you talking about.

**Edited**

When that group go home it have just a handful of permanent men

So who gonna pay for there pension plan? Hmmm

Right now that's the question everybody asking....

Well ah sorry for the employees who has 10 to 15 years permanent employment an is like 45 years of age still have 15 years to go an nobody to continue paying the plan

I guess the taxpayers will foot that bill right....just like in every other oil and gas company.

This employee loss has been going on a while now and the company has not even though of running a small programme whereby they could ever year or so bring in a few graduates and train them for 2 years and the appraise them.

Continuous training or employment programmes were always a threat to union workers or permanent men "dey want to fyah we", "dem eh takin' my wuk", I don't know why no-one could figure that out, a simple programme, that was/is proof that there is no forward/future based thinking at the company. Not to mention things like these help keep the public image and persona of the company in good regard, no one really cared, the company was and always has been an entity on to itself.

The current group of middle aged workers may have it hard, but if we adopt a "Caroni mentality" well VSEP anyone.....then the company will be a company of primarily contract workers. The issue is with the kind on workers who get their jobs there. If it is good guys who are employed on merit then fine, but if the current hiring practises continue.....

From what I last heard there seems to be a lot of "has-beens" or select folks from the private sector who may have been specific appointees or so it is rumoured...who are back....still though don't know how long you could run a company on overpriced consultants and contractors.....

Another thing, the improper distribution of workers, is what I would like to find out about, oil and gas is a technical thing yet I can't understand why their HR dept. is so over-staffed (or so I hear, feel free to correct). The technical fields are quickly farmed out much to the detriment of company...the thing is why do they need a large HR dept. if you have so much contract workers, isn't there less to manage about such workers, there is little long term tracking so you should have a smaller HR dept. or am I missing something? (Fell free to add or comment)

Also does the company have a computerized personnel database or is it still pen and paper or something in between? Serious question.

Computerized.

Yeah as in a proper digital employee database, where they track employees from qualifications to service, work order tracking and performance.

In some departments I don't even know if the work order system is still working though. Anyone knows about this?

Performance reviews were a big thing but after they were filled out by the employee they sort of...well I can't really say what happened after that.

Yes. Proper employee database.
Performance tracked with a different system.
Used to get up to a 2% increase as merits from the performance reviews but they stop that years now. Had real unfairness and bobol in that.

[Specialist Baboons]

The section i acquainted with, almost everyone going home next 5 years.
Permanent men that is

Wah section is that
Looking for a wuk

[Specialist Baboons]

Newsday
Chairman: No stone unturned in Petrotrin probe
Canadian forensic investigators Kroll Consulting, on Tuesday last, began a probe into Petrotrin’s US$11 million ‘fake’ oil scandal and has been given an all-clear directive to report any employee who refuses to cooperate with them.

Petrotrin’s management is to be informed within 24 hours of any non-compliance with directives by Kroll Consulting, as the team of forensic experts review company records to investigate just how company personnel reported on the levels of oil produced by one of the company’s lease operators, the issuing of sales tickets and its fiscalisation (audit for payment), for the period January to June 2017.

Alleged erroneous figures supplied to Petrotrin from the lease operator, resulted in the already cash-strapped oil refinery which Finance Minister Colm Imbert said in his 2018 budget is owing the State $12 billion, having to pay to the private lease operator a whopping US$11.5 million for oil its Pointe-a-Pierre refinery never received.

Newsday learned that at a recent board meeting, a decision was taken to leave no stone unturned in giving Kroll Consulting Canada Company full leeway to find the perpetrators responsible for auditing the crude ‘ received’ at the Pointe-a-Pierre refinery from the lease operator and which according to Petrotrin’s August audit report into the allegations, smacks of a collusion between high-level employees of the company and the particular lease operator with the objective of having falsified the actual oil pumped from the field to its tanks.

Petrotrin chairman Wilfred Espinet declined to confirm to Newsday that a particular employee whom the Petrotrin audit report named as the key player in the fraud, has been sent on leave, or, any of the six senior employees who were named. Newsday was told by a high level Petrotrin source, that the employee has been sent on accumulated leave.

On September 26, Petrotrin’s board accepted its audit committee recommendations that based on its 30-page findings, the company should engage external consultants to investigate a number of anomalies it discovered including how the particular lease operator’s production shot up miraculously from a mere 28,628 barrels to 111,006 barrels in the January-July period.

Most alarming, is the audit committee’s complaint in its 30-page report headed, Internal Audit Department Memorandum, that several senior employees refused to cooperate with the committee. In fact, it made the bold contention, that the particular employees were more intent on seeking the interests of the private lease operator, rather than the interest of the company.

The six employee fingered in the audit report, Newsday learned from a high-placed Petrotrin source, were last week Friday handed letters from the company’s human resource department, in which they were informed that their cooperation would be needed by the Canadian experts.

Espinet said, “Work is progressing at the rate expected and we the board have set a course of action. We have put together all they would need to look at in terms of documentation. We have set up a structure in our organisation in which the head of the audit committee connects with the experts in the investigation and if anything is delayed for more than 24 hours, (Canadian experts) must notify the auditors.”

One specific item of investigation which Kroll Consulting intends to examine based on the audit, is the Global Positioning System (GPS) records installed in Petrotrin’s vehicles which the report stated, was used by the company’s Procurement Specialists. The objective of doing so, would be to determine why a certain employee did not use a Petrotrin GPS-equipped vehicle, but his private one, which contained no GPS, to visit the lease operator in question and take the level of oil- dip from his tank.

The auditors had found that the particular employee was not even present for the fiscalisation (determining the oil level for payment) of sale volumes which the audit report documented for the periods from January to June, 2017.

[Redman]

No stone unturned.....sounds good...until you are given a narrow set of terms of reference.

Any stone will be turned outside of the AV issue?

[Specialist Baboons]

As I was saying, one man alone couldn’t be involved in all the sheit, six of dem don’t want to talj

[De Dragon]

No stone unturned.....sounds good...until you are given a narrow set of terms of reference.

Any stone will be turned outside of the AV issue?

Are you familiar with the terms of the Kroll contract?

[Redman]

no-Hence the question.

[De Dragon]

no-Hence the question.

Doubt that it would be that narrow to limit it to AV. I'm sure that there are others who are robbing PT, and us of revenue.

[Redman]

Newsday learned that at a recent board meeting, a decision was taken to leave no stone unturned in giving Kroll Consulting Canada Company full leeway to find the perpetrators responsible for auditing the crude ‘ received’ at the Pointe-a-Pierre refinery from the lease operator and which according to Petrotrin’s August audit report into the allegations, smacks of a collusion between high-level employees of the company and the particular lease operator with the objective of having falsified the actual oil pumped from the field to its tanks.

Only ONE lease Operator
One audit report
one Company

Everything in that article is singular.
Nothing systemic, company ,or process oriented....

Objective of the GPS investigation is....ONE employee.

Full bore investigation into that one spot dey....nowhere else.

If they do it right and truthfully...they WILL bring down this party.

[De Dragon]

Newsday learned that at a recent board meeting, a decision was taken to leave no stone unturned in giving Kroll Consulting Canada Company full leeway to find the perpetrators responsible for auditing the crude ‘ received’ at the Pointe-a-Pierre refinery from the lease operator and which according to Petrotrin’s August audit report into the allegations, smacks of a collusion between high-level employees of the company and the particular lease operator with the objective of having falsified the actual oil pumped from the field to its tanks.

Only ONE lease Operator
One audit report
one Company

Everything in that article is singular.
Nothing systemic, company ,or process oriented....

Objective of the GPS investigation is....ONE employee.

Full bore investigation into that one spot dey....nowhere else.

If they do it right and truthfully...they WILL bring down this party.

Then PT Board is full of idiots. Are they so certain that only AV is/was allegedly robbing them?

[Redman]

No breds.
The board is following instructions.
just like the last 25 boards.

[RedVEVO]

Petrotrin will never turn a profit .

Rowley better ask Sandals to come take over .

[Pointman-IA]

Petrotrin will never turn a profit .

Rowley better ask Sandals to come take over .

PETROTRIN can indeed become profitable but good sense must prevail by all involved.

The company has its STRENGTHS, WEAKNESSES, OPPORTUNITIES AND THREATS.

The SINS OF THE PAST are haunting the company today.

Poor Management Decisions tops the list.

And the list goes on.

[Numb3r4]

I wish the company all the best.

[RedVEVO]

Petrotrin will never turn a profit .

Rowley better ask Sandals to come take over .

PETROTRIN can indeed become profitable but good sense must prevail by all involved.

The company has its STRENGTHS, WEAKNESSES, OPPORTUNITIES AND THREATS.

The SINS OF THE PAST are haunting the company today.

Poor Management Decisions tops the list.

And the list goes on.

Sell Petrotrin and it will be profitable.

Gov't cannot management it.

[Pointman-IA]

Petrotrin will never turn a profit .

Rowley better ask Sandals to come take over .

PETROTRIN can indeed become profitable but good sense must prevail by all involved.

The company has its STRENGTHS, WEAKNESSES, OPPORTUNITIES AND THREATS.

The SINS OF THE PAST are haunting the company today.

Poor Management Decisions tops the list.

And the list goes on.

Sell Petrotrin and it will be profitable.

Gov't cannot management it.

Are you working for the IMF? Lol.

[RedVEVO]

PNM Rowley wants to liquidate CLICO.

Why not liquidate Petrotrin ?

Sell it to Shell .

[Pointman-IA]

PNM Rowley wants to liquidate CLICO.

Why not liquidate Petrotrin ?

Sell it to Shell .

Or they can form ECOTT (Energy Company of Trinidad and Tobago) that incorporates TLA, NGC, NPMC, etc and operate a business model that is similar to PDVSA.

[The_Honourable]

PNM Rowley wants to liquidate CLICO.

Why not liquidate Petrotrin ?

Sell it to Shell .

For OWTU to be down Rowley throat?

I say put 51% of petrotrin for sale. Have local and international prospects take part in the bidding process. As a 49% participant you keep quiet and just collect some $$$.

But then again, rowley padna baksh from A&V might get the 51%

[RedVEVO]

^^^^

Petrotrin has wasted $$$$ so much Forex US$ US$ .

Billions and Billions $$$$$

We need to sell that broke foot goose to the highest bidder .

Bring in the Russians , Chinese, or Americans.

Sell, sell, sell .

Petrotrin will NEVER make a profit .

.
.
.
.
.

NEVER !

[Pointman-IA]

^^^^

Petrotrin has wasted $$$$ so much Forex US$ US$ .

Billions and Billions $$$$$

We need to sell that broke foot goose to the highest bidder .

Bring in the Russians , Chinese, or Americans.

Sell, sell, sell .

Petrotrin will NEVER make a profit .

.
.
.
.
.

NEVER !

Would you sell your home if your mistress stops cooking for you?

[airuma]

^^^^

Petrotrin has wasted $$$$ so much Forex US$ US$ .

Billions and Billions $$$$$

We need to sell that broke foot goose to the highest bidder .

Bring in the Russians , Chinese, or Americans.

Sell, sell, sell .

Petrotrin will NEVER make a profit .

.
.
.
.
.

NEVER !

Would you sell your home if your mistress stops cooking for you?

This sounding like a Rowley comment!
So lets analyze your analogy a little..... You are comparing petrotrin to a house, the GoRTT (specifically minister of energy) to the home owner, the mistress who is not performing her cooking duties to the petrotrin management (specifically the chairman)...... so what are the "cooking duties" of petrotrin because they seem to be "cooking books" quite competently.

[Pointman-IA]

^^^^

Petrotrin has wasted $$$$ so much Forex US$ US$ .

Billions and Billions $$$$$

We need to sell that broke foot goose to the highest bidder .

Bring in the Russians , Chinese, or Americans.

Sell, sell, sell .

Petrotrin will NEVER make a profit .

.
.
.
.
.

NEVER !

Would you sell your home if your mistress stops cooking for you?

This sounding like a Rowley comment!
So lets analyze your analogy a little..... You are comparing petrotrin to a house, the GoRTT (specifically minister of energy) to the home owner, the mistress who is not performing her cooking duties to the petrotrin management (specifically the chairman)...... so what are the "cooking duties" of petrotrin because they seem to be "cooking books" quite competently.

Where did I mentioned something that can be classed as derogatory?

[RedVEVO]

^^^^

Petrotrin has wasted $$$$ so much Forex US$ US$ .

Billions and Billions $$$$$

We need to sell that broke foot goose to the highest bidder .

Bring in the Russians , Chinese, or Americans.

Sell, sell, sell .

Petrotrin will NEVER make a profit .

.
.
.
.
.

NEVER !

Would you sell your home if your mistress stops cooking for you?

This sounding like a Rowley comment!
So lets analyze your analogy a little..... You are comparing petrotrin to a house, the GoRTT (specifically minister of energy) to the home owner, the mistress who is not performing her cooking duties to the petrotrin management (specifically the chairman)...... so what are the "cooking duties" of petrotrin because they seem to be "cooking books" quite competently.

Where did I mentioned something that can be classed as derogatory?

Look @ ting nah ? Man gone political ! Man ton lawyer ..

A Mistress .. You are basically calling a woman a "prostitute" or "deputy" = classed as derogatory .

[Pointman-IA]

^^^^

Petrotrin has wasted $$$$ so much Forex US$ US$ .

Billions and Billions $$$$$

We need to sell that broke foot goose to the highest bidder .

Bring in the Russians , Chinese, or Americans.

Sell, sell, sell .

Petrotrin will NEVER make a profit .

.
.
.
.
.

NEVER !

Would you sell your home if your mistress stops cooking for you?

This sounding like a Rowley comment!
So lets analyze your analogy a little..... You are comparing petrotrin to a house, the GoRTT (specifically minister of energy) to the home owner, the mistress who is not performing her cooking duties to the petrotrin management (specifically the chairman)...... so what are the "cooking duties" of petrotrin because they seem to be "cooking books" quite competently.

Where did I mentioned something that can be classed as derogatory?

Look @ ting nah ? Man gone political ! Man ton lawyer ..

A Mistress .. You are basically calling a woman a "prostitute" or "deputy" = classed as derogatory .

googling Mistresses then.

[The_Honourable]

Petrotrin bein ripped off by private/political interests

[Numb3r4]

Really???!!!!

Since when?????

Well boy you could have fooled me.

[Redman]

Union s and separately its members have made a strong contribution to the current situation.

[Specialist Baboons]

Management and politics fcuked up Petrotrin, no questions asked.

[The_Honourable]

Petrotrin contacts authorities over 'fake oil'

...after independent consultant confirms audit findings

PETROTRIN says it now has independent confirmation of the discrepancies between the oil production reported by a contractor and what was actually received by the company, which resulted in an over-payment of an estimated $80 million.

As a result, the company is moving to notify the “relevant authorities”.

The disclosure was made in a statement by Petrotrin on Friday afternoon.

In September, Petrotrin hired external consultants Kroll Consulting Canada Co. after an internal audit report found alleged collusion involving an employee and an oil supply contractor which resulted in the overpayment.

The audit report also found that the oil being supplied by the contractor from its Catshill Field wells increased by more than 150 per cent during a 10 month period, and that Petrotrin was billed for oil it never received.

Details of the internal report were disclosed on the political platform by Opposition Leader Kamla Persad-Bissessar. It led to threats of legal action by the contractor against Persad-Bissessar and Petrotrin.

Petrotrin said on Friday that its initial findings were confirmed in a report submitted by Kroll following the completion of the forensic audit commissioned by the Company's Board into the reported discrepancies.

An additional report, commissioned from global oil and gas consultants Gaffney Cline last week, also found that the reservoir was not capable of producing the volumes in question, the company stated.

“In addition to auditing the period January to July 2017, the Board has since commissioned Petrotrin's Internal Audit Department to widen the scope of its investigation into matters dating back to 2016”.

Following the Board's receipt and review of the Kroll and Gaffney Cline reports, Petrotrin's Chairman Wilfred Espinet has confirmed that the Company would now be moving to take the appropriate actions internally and to bring the matter to the attention of the relevant authorities.

The Chairman cautioned, however, that while the reports confirmed the discrepancy found by the internal audit, it was critical for the Board to continue to exercise due care and deliberation in how it proceeded.

Espinet stated in the release: “While we plan to take decisive action, we need to ensure that any claim or action we take is not impeded by a misstep. In this case, doing it right is more important than doing it quickly, and so it would be premature to articulate any specific actions at this time.”

Source: http://www.trinidadexpress.com/20171117 ... r-fake-oil