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Try paying for oil in Dinars ( Libya was invaded) and bitcoin gold (more venezolanas coming closer to Petrotrin outlets).Redman wrote:All oil is purchased in USD...and paid for in USD.
Redman wrote:All oil is purchased in USD...and paid for in USD.
airuma wrote:Redman wrote:All oil is purchased in USD...and paid for in USD.
Since I was a teenager I was told that we can only own the top 6ft of soil of any land we purchase in Trinidad and Tobago. I was also told this by a university lecturer. I have never researched it myself, but the understanding is that individuals do not have the rights to oil.
Is this situation different with AV? Do they sell the oil or the service to extract it? If they sell the oil, do they own it?
I know WASA owns all of the water in Trinidad and Tobago, rain, drains, rivers etc. I'm thinking something similar may apply to petrotrin.
airuma wrote:"The GORTT owns all the resources sub surface and allows extraction by license"
So GORTT can be purchasing something that they own?
Is it unreasonable to "force" LOCAL lease operators to accept payment in TTD, even if the law needs to be changed to do this?
Certain fields were run down to make it favourable to friends and families of the political directorate.Redman wrote:airuma wrote:"The GORTT owns all the resources sub surface and allows extraction by license"
So GORTT can be purchasing something that they own?
Is it unreasonable to "force" LOCAL lease operators to accept payment in TTD, even if the law needs to be changed to do this?
There is nothing nefarious going on.
The govt owns the resource.
The govt pays a producer for the oil brought to surface, which Petrotrin has had issues doing in a cost effective manner.
So they say that Petrotrin buying the oil...when in fact what they are doing is paying an operator to bring it to surface and deliver it to their fiscalization point.
Follow the money and see where it leads you.Redman wrote:Well running down a field means that it needs significant upgrade or maintenance to get back to optimum state.
That's to the friends and family account.
Redman wrote:airuma wrote:"The GORTT owns all the resources sub surface and allows extraction by license"
So GORTT can be purchasing something that they own?
Is it unreasonable to "force" LOCAL lease operators to accept payment in TTD, even if the law needs to be changed to do this?
There is nothing nefarious going on.
The govt owns the resource.
The govt pays a producer for the oil brought to surface, which Petrotrin has had issues doing in a cost effective manner.
So they say that Petrotrin buying the oil...when in fact what they are doing is paying an operator to bring it to surface and deliver it to their fiscalization point.
airuma wrote:"The GORTT owns all the resources sub surface and allows extraction by license"
So GORTT can be purchasing something that they own?
Is it unreasonable to "force" LOCAL lease operators to accept payment in TTD, even if the law needs to be changed to do this?
Redman wrote:Examine,Assess.
No jurisdiction to implement or influence.
This is over site with zero authority over the operational decisions into the company
Information is gathered in a public forum
The way it is dealt with is that her shareholding would have been declared.-To the ICC,the JSC and Petrotrin would have been very aware since it would be in their possession.
And if in the eyes of the Board, or the JSC a conflict AROSE she would either be precluded from the deliberations, or step down.
I dont believe that her shareholding was a conflict in the JSC...and maybe she brought a level of experience to the JSC that would help with their understanding of the biz.
The JSC had NOTHING to do with the uncovering of the false production numbers.
So this blew up.
The company was following the right procedure here.
Internal Audit after the discrepancy was found(2016)-the employee was moved, production dropped.
Results submitted.
Legal Advice sought.(this is where KPB came in)
Second external audit to confirm first.
Action.
You are free to believe anything you want.
The system all over the world understand that people will have pre existing relationships that bring them into possible conflicts...as things change.There are procedures that manage this.
Especially in a population as small as ours.
to be clear-I am not defending HER.
I just think that her shareholding does not necessarily put her in a conflicted position with her position on the JSC.
The_Honourable wrote:1 billion? Ramesh wukking for sure.
But then again, he may not have to work that hard because the AG can always drop the case like what he did for Malcolm Jones. All the bad media Baksh get for the past few months, he will make it up in the end with taxpayers money and laughing to the bank.
zoom rader wrote:airuma wrote:"The GORTT owns all the resources sub surface and allows extraction by license"
So GORTT can be purchasing something that they own?
Is it unreasonable to "force" LOCAL lease operators to accept payment in TTD, even if the law needs to be changed to do this?
Not really true as there are cases where :
If you have lands that was brought under king George V and it was passed on from family to family and not sold where a new deed was made out you own all the mineral rights.
The deed has to state that the owner has the rights to minerals which includes water. Hence the government does not own the oil or water on your land.
Only if the land was sold then the rights reverts back to the government .
De Dragon wrote:JUHN Scarfy and Arse-Wari go make this all disappear, and Baksh with his nasty, disgusting attitude, similar to his friend, will laugh all the way to the bank.
Redman wrote:De Dragon wrote:JUHN Scarfy and Arse-Wari go make this all disappear, and Baksh with his nasty, disgusting attitude, similar to his friend, will laugh all the way to the bank.
That might be harder than you think.
This is now a aired issue.
So we know he was overpaid.
We know it was confirmed...or Petrotrin would not have terminated...ent they getting advised.
So somebody has to give up something.
If pressed properly...this is is tectonic.
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