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Nah, stop trying so hard..Monkey Man wrote:Work orders are out
wickedtuna wrote:So um who bringing in the gas ...diesel and other products ....and could the vene deal b part of this ...(wishing a coulda buy ah boat )
Redman wrote:neilsingh100 wrote:Based on this statement and the negative refining margins seems like the decision to close the refinery is a good business decision.Board member Anthony Chan Tack said the refinery was unreliable and likened it to a taxi that was “more in the garage than on the road."
Source: http://www.guardian.co.tt/news/2018-08- ... r%E2%80%99
1)Minister of Energy says the refinery loses $3 per BOPD.
Also see August 10 2014 of President of Petrotrin
http://www.guardian.co.tt/business/2014 ... ussian-oilResponding to questions on Wednesday, Hassanali said that Petrotrin had spent US$1.3 billion importing crude oil between January and July.
7 months -210 days.
$1.3B over 210 days is 6.19 M USD per day spent importing oil in the first 7 months of 2014Information on the Ministry of Energy’s Web site (consolidated monthly bulletins of June 2014) indicates that Russia supplied Petrotrin with 1,440,812 barrels of crude oil between January and June, 2014, representing about 15.1 per cent of total imports for the six-month period, which amounted to 9,485,466 barrels. .
Jan to June 2014 we imported 9,485,466 BBls of oil.
180 Days or an average of 52,967 BOPD imported.
Hassanali says we spent 6.19 M USD per day importing Oil First 7 months
MOE says we imported 52,967 BOPD.
That gives a price per BBl of 113 USD.
WTI between Jan2 to July 31 2014 had an average cost of 101.
So Petrotrin was paying 13% more than the average reference price for oil.
Which is questionable at best.
When you add into the mix that the grades of oil we import are all lower priced than WTI-based on their quality/API/Sulphur content that 13% will creep up.
The refinery cannot work if they are importing oil in this manner.
The refinery will be restarted-and the quality staff rehired....and they will increase local production
Many of the workers will get very nice packages.
Some will be rehired.
Some will not.
Most will be cool when it settles.
will things change???
The_Honourable wrote:PETROTRIN'S PLIGHT
hydroep wrote:shake d livin wake d dead wrote:allyyuh hadda wait till Sunday...growlers would address the nation
The fate of one "big black hole" is going to be explained to the population by a "bigger black hole".
The irony...
Phone Surgeon wrote:He gonna blame kamla
janfar wrote:No government owned oil company could ever be efficient with unions involved.
It's unfortunate that so many have to be put on the breadline in this guava season but it has to be done. Petrotrin in it's current format is a drain on the economy and an embarrassment to the oilfield industry given that we are one of the oldest countries in the oil business.
Trinispougla wrote:janfar wrote:No government owned oil company could ever be efficient with unions involved.
It's unfortunate that so many have to be put on the breadline in this guava season but it has to be done. Petrotrin in it's current format is a drain on the economy and an embarrassment to the oilfield industry given that we are one of the oldest countries in the oil business.
Imagine PDVSA ranked as a better performing oil company that Petrotrin.....sad yes.
mero wrote:Nah, stop trying so hard..Monkey Man wrote:Work orders are out
Delete that entire library while you at it
Wt actual f!!!The_Honourable wrote:FLASHPOINT: The Challenge at Petrotrin – And OWTU’s Response
Recently, every commentator has published his or her opinion on the state of Petrotrin – even if they admit they have no experience or understanding of the state’s most valuable company.
This is very unfair to the people of Trinidad and Tobago. Special interests are attempting to dupe them into supporting the sale of an enterprise that has given this country over $16 billion in the past six years alone. In light of this, the OWTU will remind its members and the public of the recent history of mismanagement under three administrations and the Union’s efforts to improve the profitability and sustainability of our national inheritance.
The Manning Administration
September 2004: Kenneth Merrique, a contract worker, died of his injuries following a gas explosion at a Trinmar platform. Comrade Ancel Roget, then the President of the Trinmar Branch of OWTU, warned that the Company was negligent in Health and Safety and maintaining its infrastructure. The Union called for a plan to refurbish facilities and audit existing lines. Nothing was done.
2007: Three fatalities at Petrotrin. The Union reiterated its concern with HSE standards at Petrotrin. It also raised the issues of manpower problems and aging and failing infrastructure. What was needed then was more manpower in the productive areas of the Company not increases to an already bloated management structure. The workers held a 24-hour vigil opposite White Hall on October 24th and 25th. T&TEC workers, facing similar issues, joined Petrotrin workers in 3 days of action from October 31st to November 2nd.
2008: The Union wrote to the Company about its concerns for Health and Safety and infrastructure upgrades at Petrotrin.
2009: The Union expressed its concern about political patronage, mismanagement, malfeasance and graft. OWTU also warned about cost overruns on megaprojects like the now infamous WGTL, USLD and GOP. It advised that these projects would not lead to quality improvements in gasoline or other refined products and priority should instead be given to producing oil fields and Trinmar. Then the refinery’s profit margins would be improved. This investment should have been done when oil prices were high and the Company had more resources to invest. Commentators and experts had nothing to contribute at that time.
The Persad-Bissesar Adminsitration
2010: General Elections in May led to a change in government. The new Minister of Energey, Carolyn Seepersad Bachan, met with the Union who suggested a committee for increasing production. The Union wrote to Ken Allum, then the President of Petrotrin, to submit names for the committee. In December that year OWTU raised concerns about the delay in establishing the committee and about the lease and farm-out programme that was prone to corruption. These concerns turned out to be well-founded as recent revelations show. The Committee was established to reactivate wells and maximize production throughout Exploration and Production.
2011: The President General, Comrade Ancel Roget, wrote to Lyndsey Gillete to call for urgent restructuring at Petrotrin. He stated, “It is now well established and accepted fact that the Company’s colossal failure characterized by billions of dollars of cost overruns; precipitous fall in indigenous crude oil production; the failure to address critical Health, Safety and Environment issues; poor Human Resources and Industrial Relations Management; and the corrupt contract system are, inter alia, all manifestations of heavy political patronage and gross mismanagement. Another major contribution to this failure is the present governance model and organization’s structure.”
In March 2011, the committee to increase production began working. After 3 months, production increased by 6,000 barrels of oil per day. In June 2011, Carolyn Seepersad Bachan was replaced as replaced as Minister of Energy by Kevin Ramnarine. From then on it has been business as usual at Petrotrin. The analysts were silent.
2012: The Union advised the board and management to identify dialogue and consult with Petrotrin’s stakeholders. The lack of qualified manager and little to no succession planning have hindered the Company. Instead of investing in producing oilfields to increase production, they decided to spend $2.8 billion on the WGTL which eventually failed. In 2012 the Union was alsp raising the alarm about the lack of security and even made a presentation to the Company on the need for a “Crime Protocol Policy for Petrotrin”. Instead the Company cut back on security. There have been several major robberies in the fields since then, and even a member of the public found dead among the tanks.
2013: The workers became increasingly frustrated with the Company’s failures: the Fluid Catalytic Cracking Unit (FCCU or Catcracker) was down for 2 years; decreased oil production; lucrative fields lost through lease, farm out and joint ventures; the Chairman’s absence during crisis and the Minister of Energy’s failure to respond to the Union’s proposals for improving the Company. The Company’s response? Taking out an injunction against the workers In March 2013. No commentators supported the workers at that point. December 2013 gave us a major oil spill. The OWTU campaigned heavily to highlight the ongoing neglect of Petrotrin’s infrastructure and the cover-up of that environmental disaster. The Union met with Independent Senators and then Opposition Leader Dr Keith Rowley. It reiterated its call for restructuring Petrotrin.
2014: In January the Union wrote to then Prime Minister Kamla Persad-Bissesar, Opposition Leader Keith Rowley and even President Anthony Carmona. In February, President General Roget spoke out about twenty-one (21) plants in the refinery being down; he was sued by Petrotrin.
In March, President General Roget wrote to the Commissioner of Police to request an investigation into alleged corruption at South West Soldado. The Union met with the Anti-Corruption Investigations Bureau in April. It was alleged that Petrotrin breached its own rules to pay an upfront commissioning fee of US$1.23 million, of which US$750,000 found its way to two private bank accounts at Ellerslie Plaza.
The Union also tried to draw attention to bunkering services. If Petrotrin offered these services and sold refined products on the open sea, it would have been able to bring in significant foreign exchange. Instead, the board and management opted to contract out bunkering services to a private interest.
The Rowley Administration
2015: The Union and the workers maintained calls for restructuring.
2016: The Union met with the current Minister of Energy, Mr Franklin Khan.
2017: The Union met with Prime Minister Dr Keith Rowley to discuss Petrotrin’s future and its proposal for restructuring. The Prime Minister announced a special committee to develop recommendations to improve Petrotrin. The Union again presented its proposal which was incorporated into the Committees recommendations. Two vital recommendations, of the many made, were the need to correct asset integrity issues such as leaking pipes and storage tanks and to divide Petrotrin into three divisions: Trinmar Operations, Land Exploration and Production and Refining and Marketing.
2018: The current board of Petrotrin assumed office in September 2017 but neglected to meet with the Union until January 2018 when the Union again pressed for restructuring. In March 2018, OWTU held a mass meeting for members which led to a meeting with some members of the board. After a marathon session in April, the Union and the Company signed a Memorandum of Agreement that was welcomed by many and created hope that Petrotrin could be turned around. Since then, we are forced to ask, what has the board done to bring about change at Petrotrin?
Further to the Memorandum of Agreement, the Union nominated three representatives to the committee that would work for the improvement of Petrotrin. Instead the Company engaged McKinsey and Co, who were not included in the Prime Minister’s appointed committee nor were they part of the Memorandum of Agreement.
The Union has been at the forefront of the call for the restructuring of Petrotrin. When oil prices are high it is easy for governments, policy makers, and industry experts to ignore the Union. However, as soon as oil prices fall the only solution third parties can propose is to send workers home. This will not improve productivity or profitability; neither will it solve the fundamental problems at Petrotrin. Those who try to suggest that the Union is against restructuring are unaware of the facts. The Memorandum of Agreement of April 3, 2018 was an important step and it would be a disgrace and unpatriotic if the board and the government squander this opportunity. History shows that the Union and the workers are ready to make Petrotrin profitable. The question is, is the government ready to do so?
Ozzi Warwick
Chief Education and Research Officer
OWTU
daring dragoon wrote:it good. panday and manning close caroni and we hav more sugar now than before and the price not too bad. sweedrink and ting drop in price, a 2 liter is now $8. nobody missed a beat or missing caroni sugar. the only ting we missing is caroni rum.
let them close petrotrin and sell all the iron in the plant to china as scrap iron and we go get some money and then import oil from venezuela.
Roget cautioned that this move “will mark, it has already marked the end of Dr Rowley, if in fact the end of the PNM.
“I don’t know anyone who is in this crowd who believes that after hearing this, that you are all supportive of that party that does this great injustice. Injustice when there is an option to you the workers, that you will continue to support that.”
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