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Petrotrin update

this is how we do it.......

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Re: Petrotrin update

Postby De Dragon » February 28th, 2018, 9:00 pm

^^
Wonder if his good friend from Tobago called him to empathise..............

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Re: Petrotrin update

Postby Triniak47 » February 28th, 2018, 9:07 pm

Image

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Re: Petrotrin update

Postby The_Honourable » February 28th, 2018, 9:56 pm

Union gearsing up for friday morning at point a pierre roundabout 6.30 am sharp

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Re: Petrotrin update

Postby Numb3r4 » March 3rd, 2018, 3:12 am

Any word on that Union action?

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Re: Petrotrin update

Postby jcrew » March 3rd, 2018, 1:03 pm

Numb3r4 wrote:Any word on that Union action?

What action? It was a union meeting with its members.

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Re: Petrotrin update

Postby The_Honourable » March 3rd, 2018, 2:31 pm

Numb3r4 wrote:Any word on that Union action?


We want Petrotrin to survive

WHILE saying he does not trust Petrotrin chairman Wilfred Espinet, OWTU president general Ancel Roget says the union wants to see the continued survival of the company and is committed to working with its Board of Directors.

Addressing a large contingent of workers at the Pointe-a-Pierre roundabout yesterday, Roget said the Board has agreed to split the company into four operational areas: Refining and marketing; Land; Trinmar Operations and the Augustus Long Hospital. He said the Board was expected to have a proposal confirmed in writing to the union sometime yesterday.

“We said to Espinet two days ago, we don’t trust you. The experience we have with you at TCL (Trinidad Cement Ltd) we don’t trust you but for Petrotrin’s sake, we will work with you,” Roget said. The union’s proposal to split the company into four as opposed to two divisions was agreed to at a meeting on Wednesday.

He said the union is insisting that every single asset given to friends of the company’s management in the form of lease operators and farm-outs, must be returned to Petrotrin. “If is one thing we are resolving here this morning, is that we will fight like hell to make sure we get back all that is due to Petrotrin and the people of Trinidad and Tobago,” he said.

He said the board was told they could either choose to hold discussions about the company’s restructuring in a civilised way or fight on the street. “Is either we talk in a civilised and rational way or we fight the blasted thing out in the streets, all over the country. Choose which one you want and we are prepared to walk out and abandon the process if they are not prepared to listen and respond properly to workers and the union,” Roget said.

Roget said the labour movement is still mobilising workers for a “day of resistance” as the country is experiencing unprecedented levels of crime, unemployment and high food prices.

“We are building to a point where we are going to shut this country down in the interest of the poor people, the oppressed, the unemployed, the underemployed, the marginalised, those who are without a voice in their interest against the interest of the one percent who feel it is their time to claim everything else in the country,” he said.

Source: http://newsday.co.tt/2018/03/03/we-want ... o-survive/

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Re: Petrotrin update

Postby Numb3r4 » March 3rd, 2018, 8:43 pm

Headlines stated that Roget wanted to split the company into 4. What 4 parts he thinking of exactly?

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Re: Petrotrin update

Postby Numb3r4 » March 3rd, 2018, 8:44 pm

Parenco here and operating TSP.....formerly NGC.....Parenco might be operating Trinmar formerly Petrotrin.

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Re: Petrotrin update

Postby The_Honourable » March 3rd, 2018, 9:47 pm

Numb3r4 wrote:Headlines stated that Roget wanted to split the company into 4. What 4 parts he thinking of exactly?


- Land, North and East (LNE)
- Trinmar Offshore Operations
- Exploration and Production (E&P)
- Augustus Long Hospital

The OWTU restructuring plan calls for each entity to be headed by a general manager who will report to a board of directors. Under the LNE general manager will be a manager of treasury and risk management, manager of production and operations, manager of finance and accounting, senior medical officer, legal advisor, chief security officer, manager of exploration and development and a head of custody and transfer.

The management at Trinmar will include a manager of production and operations, manager of finance and accounting, manager of administration overseeing human resource and public relations, legal advisor, head of health, safety and environment and senior medical officer.

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Re: Petrotrin update

Postby Cantmis » March 3rd, 2018, 9:48 pm

Land ?

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Re: Petrotrin update

Postby nervewrecker » March 3rd, 2018, 10:02 pm

Curtms wrote:Land ?


Yea, LNE. Some things I just don't question

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Re: Petrotrin update

Postby Allergic2BunnyEars » March 3rd, 2018, 11:44 pm

Numb3r4 wrote:Headlines stated that Roget wanted to split the company into 4. What 4 parts he thinking of exactly?


E&P
Trinmar
Refining
Medical

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Re: Petrotrin update

Postby Numb3r4 » March 4th, 2018, 12:29 am

Wait aren't the functions of E&P the same as that of Trinmar, why the separation? That doesn't solve anything you're just duplicating everything. You don't need multiple Drilling and Workover Depts. just one to work across the range of environments.

R&M Okay that would need its own thing....

Medical....well boy...that....that may very well need to be cut drastically......and to be quite frank I think this might get cut right up front because let's face it retirees don't really have seat at the table...Union isn't in a good position and they have little else to offer if anything at all. To be honest if splitting Trinmar and E&P is the height their ideas then I'm sorry for the workers who are following them.

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Petrotrin update

Postby Allergic2BunnyEars » March 4th, 2018, 8:35 am

Numb3r4 wrote:Wait aren't the functions of E&P the same as that of Trinmar, why the separation? That doesn't solve anything you're just duplicating everything. You don't need multiple Drilling and Workover Depts. just one to work across the range of environments.

R&M Okay that would need its own thing....

Medical....well boy...that....that may very well need to be cut drastically......and to be quite frank I think this might get cut right up front because let's face it retirees don't really have seat at the table...Union isn't in a good position and they have little else to offer if anything at all. To be honest if splitting Trinmar and E&P is the height their ideas then I'm sorry for the workers who are following them.


Need more details to know what makes sense or what the intended logic is. Before the mergers trinmar was considered different from E&P I believe. Maybe an older head can chime in.

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Re: Petrotrin update

Postby nervewrecker » March 4th, 2018, 8:42 am

Trinmar was always different. Something to do with the history, group of companies that petro comprised of and the agreement. Their medical and pension plan is different afaik. I not sure if petro E&P men can go across Trinmar either.

E&P in this instance seem to mean onshore and Trinmar means offshore. Afaik, E&P has been spinning a profit as of late.

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Re: Petrotrin update

Postby Numb3r4 » March 4th, 2018, 12:06 pm

If they are splitting the company would those original agreements be valid or even applicable in these times, isn't there a case to be made that these are "exceptional times"? Serious question.....

Agree Trinmar was always special.....stil don't know why though, is it just because of the offshore nature of the work?

Still don't know why they can't be merged, the employes can be separate but operations and activitis managed centrally, seems to be a bit much to have spun off into 2 entities.

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Re: Petrotrin update

Postby jcrew » March 8th, 2018, 4:56 pm

kstt wrote:
vaiostation wrote:
nervewrecker wrote:Field police telling me there is talk of contracting out the work to a private security firm.

Hearing that for years now, but just recently they hired a bunch of Estate Police...

Remember Petrotrin has a union, so they can't just make a decision to contract out an entire department just so...


It is being rumoured that Amalgamated will be manning the gates.

Lol. Yeah. What else?

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Re: Petrotrin update

Postby hydroep » March 13th, 2018, 7:15 am

Small money fuh he...

A&V boss on obstructing justice charge
$150,000 bail for Baksh

Kevon Felmine
Published:
Tuesday, March 13, 2018
A&V Oil and Gas Ltd CEO Hanif Nazim Baksh makes his way to the San Fernando Magistrates’ Court yesterday. PICTURE RISHI RAGOONATH

Embattled A&V Oil and Gas Ltd CEO Hanif Nazim Baksh appeared in the San Fernando Magistrate’s Court yesterday, charged with attempting to obstruct the course of justice.

The matter is related to the alleged assault case involving Guardian Media Ltd’s senior photographer Kristian De Silva on September 15 last year.

Presiding in the San Fernando First Court yesterday, Senior Magistrate Cherril-Anne Antoine read the charge that on November 9, 2017, at Penal, Baksh, knowingly or reasonably believing Khusial Motiram was a potential witness in a criminal investigation into the assault of De Silva and the malicious damage of property belonging to De Silva, for which Baksh was a suspect, used threats to influence Motiram to give false evidence and withhold true evidence.

Baksh was represented by former attorney general Ramesh Lawrence Maharaj SC and former deputy chairman of the Environmental Management Authority (EMA) Michael Rooplal.

Baksh, the father of former government senator Allyson Baksh, was not called upon to plead as the charge was laid indictably.

He was arrested on Thursday at his home along Nazim Avenue, San Francique, following an investigation by the Police Complaints Division. Following an identification parade at the San Fernando Police Station on Saturday, Ag ASP Joseph Chandool laid the charge. He was able to secure bail of $150,000 at the police station ahead of his appearance yesterday.

Although Antoine granted that the bail continued, Baksh remained at the court for several hours seeking approval from the Clerk of the Peace.

Baksh is jointly charged along with his son-law Cpl Billy Ramsundar, a police officer with 25 years service with the the assault on De Silva and malicious damage while outside A&V Oil and Gas Ltd at Nazim Avenue, San Francique.


http://www.guardian.co.tt/news/2018-03-12/150000-bail-baksh

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Re: Petrotrin update

Postby hydroep » March 19th, 2018, 6:17 am

After all the old talk it seems reality is finally setting in for Roget and the OWTU: either allyuh take something or end up with nothing...

Moves to privatise Petrotrin

CARLA BRIDGLAL

AS PETROTRIN restructures in an attempt to return to profitability, the state oil company needs to manage and in some cases mitigate the power and influence of two of its biggest stakeholders: government and the Oilfield Workers Trade Union.

“We have a number of stakeholders very visible in Petrotrin’s direction and life. One is the government, another is the union. And these two very visible entities have not clearly been able to find a comfortable spot in Petrotrin’s future,” company chairman Wilfred Espinet told Newsday, during an interview on the weekend.

Espinet is head of a new transition team that took over management of the compnay from March 1, upon the exit of former top executives. Because of this, observers — in particular creditors, whom the company desperately need to assuage — will be looking to see how the board manages its transition period and if the board can manage relationships to bring about harmony, stability, and ultimately, growth and profitability.

As a 100 percent state-owned company, government is inevitably entangled in the affairs of the company. The board itself is appointed by the President at the discretion of the Prime Minister and Cabinet. It is also implicitly understood that government is a 100 percent guarantor of Petrotrin’s debt, estimated to be over $10 billion.

TIME TO WEAN GOVT OFF

The government is also, ironically, a creditor: the company owes it about $3 billion, including royalty payments. Any disruption in Petrotrin’s ability to service its debts then, can have a ripple effect on the country’s own credit rating. “I think a lot of people will question if it can be done, not from the perspective that it couldn’t but because some of the stakeholders’ involvement and influence in the process,” Espinet said. Regarding the government, Espinet said, the challenge comes from the fact that culturally and historically, government’s involvement in Petrotrin has been very deep. “We are trying to discourage that kind of closeness to allow us to come out of it,” Espinet said. The company recognizes the need to wean itself off government.

Regarding the company’s debt in relation to the government’s capacity for borrowing and the country’s credit rating, Espinet said the board is now trying to convince government to consider a process that will separate that. “We would like to believe that one day, Petrotrin should be able to stand on its own,” Espinet said.

The way the board sees it, he said, Petrotrin isn’t owned by government — it’s owned by the State...that is, the people. That dichotomy often gets muddled. “I don’t think the platform of any government is that they want to run Petrotrin. The question is how can we discourage it from happening,” Espinet said.

Last year, a committee headed by Ministry of Energy Permanent Secretary Selwyn Lashley, reviewed the company’s operations. Among its findings, aside from the suggestion that the company should be split into separate operational entities, was the need to ring-fence government from a state asset that is operating in a commercial productive sector.

PETROTRIN, OWTU IN DEEP TALKS

Our system does not work well with a government interfering in that process. A government is inevitably a temporary position and they may do things with the asset that may be in their interest but not necessarily the State’s,” Espinet said.

There’s a bigger end game than just fixing the company’s problems in the short term, he said, and inherent in the restructuring process is to protect the company for future involvement, and bring about a measure of continuity.

With every new government, a new board is installed, along with new members of senior management, stymieing the transfer of critical institutional knowledge, that is ultimately not in the best interest of the company, even if it is politically expedient.

Key to the company’s transformation though, is the human capital, and Espinet diplomatically noted there was some “sensitivity around negotiations” with the majority union, the Oilfield Workers’ Trade Union (OWTU). “We have to be practical about what we can say without having the other party upset,” he said. Public commentary has to be “extremely careful”, but Espinet acknowledged that both parties are in “deep discussion.”

The good news, he said, is that both Petrotrin and the union have been able to find common ground. “That makes the situation salvageable,” he said.

Asked about the nature of the conversation, whether it includes wage and personnel cuts, for example, Espinet said it was “total negotiation happening.” Efficiency inevitably brings up the concept of privatization, something the union especially has been adamantly against.


Citing the Lashley Report, Espinet noted that Petrotrin needs two things: money and technical expertise—neither of which has been readily available in the current operating environment. Among the permutations for privatization (or at least reduced to no government control, Espinet suggested some sort of public offering, partnerships or even some sort of employee ownership. “But you can’t go to the stock exchange if you’re not profitable,” he said.


http://newsday.co.tt/2018/03/19/moves-to-privatise-petrotrin/

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Re: Petrotrin update

Postby TriP » March 22nd, 2018, 6:13 pm

are u being lied to..?
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Re: Petrotrin update

Postby neilsingh100 » March 22nd, 2018, 7:35 pm

The union needs to educate their members about reading a financial statement.

EBIDTA is not profit.

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Re: Petrotrin update

Postby hydroep » April 5th, 2018, 7:15 am

OWTU, Petrotrin sign MOA on restructuring

Kevon Felmine
Published:
Thursday, April 5, 2018

A Memorandum of Agreement (MOA) has been established by the Oilfields Workers’ Trade Union (OWTU) and Petrotrin to establish a working committee to oversee the restructuring of the struggling oil company over the next 18 months.

At the OWTU’s Public Policy Breakfast Forum at Paramount Building, San Fernando, yesterday, the union’s president general Ancel Roget gave an assurance to Petrotrin workers and the public that the restructuring exercise will now be in good hands due to the union’s involvement.

The MOA paves the way for the establishment of the division of Petrotrin into four entities that would form the foundation for a hopeful return to profitability.

The four entities the union proposed were: Land: North and East (LNE), Trinmar Offshore Operations, Exploration and Production and the Augustus Long Hospital.

Following a 13-hour meeting between the OWTU and representatives of Petrotrin’s Board of Directors at Paramount Building on Tuesday, an agreement was signed by Robert Riley, advisor to Petrotrin’s Board and Roget.

In the memorandum, Petrotrin and the OWTU agreed to establish a working committee comprising representatives of both parties that will work over the next 18 months to “address, resolve and agree on the four organisational structures, work processes and skills/competencies and manpower requirements which will make the company internationally competitive, thus ensuring its survival, sustainability and profitability.

“The parties agree to a timetable for these meetings commencing in the month of April 2018 with the enhancement of operational efficiencies, reduction of waste and the promotion of the business of the company.”

Roget told the audience, comprising of trade unionists of the Joint Trade Union Movement, that the OWTU will be ensuring the viability, sustainability and profitability of the company.

“We were able to sign a Memorandum of Agreement detailing how this company is going to be divided, the work that is going to be done and the time-frame which we have to complete the reorganising of the company. Rest assured, you the public of T&T, that the Petroleum Company of Trinidad and Tobago is in good hands and we will ensure that this company is here to stay for the benefit of all,” Roget said.

But while there were high hopes for Petrotrin, Roget criticised the Government for the state of labour relations and unemployment, saying that it had failed at regulating multinational companies. Roget said many foreign companies operating in T&T were filling positions with foreigners while there were qualified and competent citizens being overlooked.

“Our Government stands idly by and allows that to happen like everything else. We have no choice but to understand the environment which we are operating in and to prepare ourselves to call it as we see it and of course, most importantly, take action to defend those assets and to defend our labour and invaluable contributions,” Roget said.

Petrotin officials did not respond to queries on the details of the MOA.


http://www.guardian.co.tt/business/2018-04-05/owtu-petrotrin-sign-moa-restructuring

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Re: Petrotrin update

Postby tr1ad » April 5th, 2018, 7:21 am

"Good hands due to union involvement" some really just want to be included yes

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Re: Petrotrin update

Postby Mark007 » April 5th, 2018, 9:00 am

I wonder if they will have a Graduate Trainee Programme this year :?

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Re: Petrotrin update

Postby Specialist Baboons » April 7th, 2018, 3:59 pm

Numb3r4 wrote:Wait aren't the functions of E&P the same as that of Trinmar, why the separation? That doesn't solve anything you're just duplicating everything. You don't need multiple Drilling and Workover Depts. just one to work across the range of environments.

R&M Okay that would need its own thing....

Medical....well boy...that....that may very well need to be cut drastically......and to be quite frank I think this might get cut right up front because let's face it retirees don't really have seat at the table...Union isn't in a good position and they have little else to offer if anything at all. To be honest if splitting Trinmar and E&P is the height their ideas then I'm sorry for the workers who are following them.


So presently it’s:-
1. LN&E which is the onshore exploration
2. TRINMAR which is offshore exploration
3. R&M which is Refining & Marketing at Pointe a Pierre.

The four SBU’s are:-
1. E&P which was LN&E
2. TRINMAR still the marine exploration
3. Refining which is R&M
4. Medical which is the Augustus Long Hospital and the Medical Center at Guaracara Park

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Re: Petrotrin update

Postby Pointman-IA » April 8th, 2018, 2:54 pm

Specialist Baboons wrote:
Numb3r4 wrote:Wait aren't the functions of E&P the same as that of Trinmar, why the separation? That doesn't solve anything you're just duplicating everything. You don't need multiple Drilling and Workover Depts. just one to work across the range of environments.

R&M Okay that would need its own thing....

Medical....well boy...that....that may very well need to be cut drastically......and to be quite frank I think this might get cut right up front because let's face it retirees don't really have seat at the table...Union isn't in a good position and they have little else to offer if anything at all. To be honest if splitting Trinmar and E&P is the height their ideas then I'm sorry for the workers who are following them.


So presently it’s:-
1. LN&E which is the onshore exploration
2. TRINMAR which is offshore exploration
3. R&M which is Refining & Marketing at Pointe a Pierre.

The four SBU’s are:-
1. E&P which was LN&E
2. TRINMAR still the marine exploration
3. Refining which is R&M
4. Medical which is the Augustus Long Hospital and the Medical Center at Guaracara Park
Do not forget HRCS, which is a business entity by itself.

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Re: Petrotrin update

Postby The_Honourable » May 17th, 2018, 9:07 pm

20% price reduction to Petrotrin almost impossible


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Re: Petrotrin update

Postby Cantmis » May 21st, 2018, 5:59 pm

What's with all that smoke ?

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Re: Petrotrin update

Postby Redman » May 21st, 2018, 9:28 pm

So Mr Drivers comment on Petrotrin labor is accurate?

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Re: Petrotrin update

Postby kstt » May 21st, 2018, 10:32 pm

Contractors bid for contracts at Petrotrin at the rate but pay the workers considerably less. Pocketing the difference.

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