Petrotrin refinery shut down

[hydroep]

Govt announces new company for refinery assets
Carla Bridglal 2 Hrs Ago

The government has announced a new state company, Guaracara Refining Company, into which the assets of the Pointe-a-Pierre refinery will be placed.

The refinery is scheduled to be shuttered by next month, and after the assets have been transferred to Guaracara, the company will advertise a “very broad” request for proposals (RFP), where any interested party can pitch their plan on how the refinery can be utilised.

“Everything will be open for discussion. At the end of the day, we feel we will get a proposal that is acceptable where we will no longer have this albatross around our neck called the refinery, but the assets can still be used in a productive way for the benefit of TT,” Energy Minster Franklin Khan said yesterday at the post-Cabinet media briefing.

Guaracara is one of five new companies created as part of the restructuring of state oil company Petrotrin, including Heritage Petroleum Company Ltd and Paria Fuel Trading Company, which will handle exploration and production and trading and marketing, respectively. Petrotrin as an entity will remain as a company to deal with legacy matters, and these will all be placed into one, Trinidad Petroleum Holdings Ltd.

Heritage and Paria were incorporated on October 5, but according to the Companies Registry, Guaracara is not yet listed.

Khan said a vesting order was being prepared to transfer Petrotrin’s exploration and production assets to Heritage and the terminal, port and pier assets to Paria. There will also be an assignment of exploration and production licences under the name of Petrotrin at the Ministry of Energy to Heritage.

“The transformation process is well on its way and going smoothly,” Khan said. The government hopes to have the new companies operationalized by the end of this year, he said. “All things being equal, 2019 will be a brand new year for the energy sector in TT,” he said. As it stands, all operations are still continuing under the name of Petrotrin. Khan added that all timelines are on schedule for the import and export of fuel and crude oil. The first shipment of fuel is expected around October 22-24 and the first crude export will be October 30-November 1. Neither Khan nor his Cabinet colleague Communications Minister Stuart Young could verify if Petrotrin had indeed retained a supplier for fuel. Khan said the company was “very close if not there already” when asked by reporters for the status, while Young said, given the information provided “I’m sure they have a supplier by now.”

Regardless, Khan said there would be a “seamless transition for the supply” of liquid fuel, liquid petroleum gas (LPG or cooking gas) and bitumen, and the country has a 20-day buffer supply should there be any lapse in delivery time.

Young also said that the price Petrotrin’s crude oil was fetching on the international market was well above the West Texas Intermediate price, the international benchmark price at which the TT budget is pegged. “We thought it would have been less than WTI. It’s even higher than we thought the crude was worth,” Young said.

https://newsday.co.tt/2018/10/19/govt-announces-new-company-for-refinery-assets/

[Redman]

Young said our crude selling above WTI?

I call BS.

[Pointman-IA]

Young said our crude selling above WTI?

I call BS.

Did he understood what WTI means? Lol.

He behaved like Imbert during the press conference.

[skylinechild]

Young said our crude selling above WTI?

I call BS.

Did he understood what WTI means? Lol.

He behaved like Imbert during the press conference.

he doesnt need to understand what WTI means..... he can simply use the scape goat=" i was informed" or "a consultation was held"

no real thinkers in the lot of them

[kstt]

Kamla fault again!!

Who tell she talk about Rowlee Fake Oil

[bluefete]

So dey shutdown a whole company to avoid the PM from getting further contaminated by his alleged association with AV Drilling.

Now dey telling us that dey don't know if dey have a confirmed supplier to sell us fuel.

Life in T&T.

[De Dragon]

Goebbels Young in full flight

[gastly369]

Young said our crude selling above WTI?

I call BS.

High sulphur crude... oh please....

[SR]

Ah yes best strategy to get rid of the union and roget and we still "own" the company. Now everybody has to reapply with new terms and conditions...and lets run it with the same team than closed down the original company as they are best suited to know what best for the hiring process ....... this was no surprise. Young was very inconvincing on tv last night as well. Bottom line. The public was hoodwinked and lapped it up. In 2 years time this will not affect the voters choice as they saved the jobs of many by rehiring them.

[Slartibartfast]

Ah yes best strategy to get rid of the union and roget and we still "own" the company. Now everybody has to reapply with new terms and conditions...and lets run it with the same team than closed down the original company as they are best suited to know what best for the hiring process ....... this was no surprise. Young was very inconvincing on tv last night as well. Bottom line. The public was hoodwinked and lapped it up. In 2 years time this will not affect the voters choice as they saved the jobs of many by rehiring them.

Are they trying to solve the mismanagement of Pertrotrin by hiring the same managers that mismanaged it into bankruptcy and debt? Or am I missing something? Honestly asking.

[sMASH]

if is one thing, the sentiment is that people are dissatisfied with the decisions of the government on this matter.

[Joshie23]

Ah yes best strategy to get rid of the union and roget and we still "own" the company. Now everybody has to reapply with new terms and conditions...and lets run it with the same team than closed down the original company as they are best suited to know what best for the hiring process ....... this was no surprise. Young was very inconvincing on tv last night as well. Bottom line. The public was hoodwinked and lapped it up. In 2 years time this will not affect the voters choice as they saved the jobs of many by rehiring them.

Are they trying to solve the mismanagement of Pertrotrin by hiring the same managers that mismanaged it into bankruptcy and debt? Or am I missing something? Honestly asking.

https://m.youtube.com/watch?v=0EExchABEek

It's only ~1:00 long. Listen from 0:25. I need to see the figures to corroborate but like a typical Trini, let's run with the bachannal. Just like we ran with $45,000. $800MM annually for ~5,000 non-managerial employees vs $700MM for the ~400 managerial ones? Again, I have great respect for Statistics, so simple mean isn't the best way to describe a population, but if these figures are legit, that works out to ~$13k per employee per month vs. ~$146k per 'manager' per month??

However to add to Slartibartfast's question, Heritage is advertising for a CFO. Petrotrin recently hired a CFO, Mr. Campbell. Mr. Campbell was previously employed, prior to joining Petrotrin. He wasn't chilling at home nor is he fresh out of university. Is it then that Mr. Campbell is going to be transferred over to Heritage/Paria, like Espinet and Ajodhasingh were or are they hiring a whole new CFO? If it's the former, is there really transparency? If it's the latter, why would Mr. Campbell have left his previous place of employment, (to come to a company that would no longer exist mere weeks after he joined) in the first place?

EDIT: I was just thinking. Most of these positions from Heritage and Paria are reporting to a CEO. However, no advertisement has been put our for said CEO position. Now I'm not too verse in Business Law and process of appointing executives and what not, but the conspiracy theorist in me wants to ask why. Has someone already been earmarked for this position as well?? If so, again.....where is the transparency?? Trinidadian silence (particularly in the southland) in this matter then tells me that most of the public's 'concern' and buy-in (as per Mr. Young yesterday) had less to do with Petrotrin's position and more to do with Petrotrin's people.

[Joshie23]

if is one thing, the sentiment is that people are dissatisfied with the decisions of the government on this matter.

This is going to piss off the 'Red-and-Ready' peeps, but of late, everytime one of their ministers speaks, I feel condescended and disrespected. Brings me back to when the current Minister of Sport said 'We are in charge of this House and you are going to have to deal with it..'

Reminds me of when Granny cooked something I didn't fancy, may she continue to RIP. When I complained, she simply responded with 'If you don't like it, lie dong by it..' Talk 'bout gas after!

[sMASH]

we dont have a democracy, or even a republic. we have a pseudo monoarchy.

[K74T]

[hydroep]

Taxpayers go pay fuh dat...

[De Dragon]

Ah yes best strategy to get rid of the union and roget and we still "own" the company. Now everybody has to reapply with new terms and conditions...and lets run it with the same team than closed down the original company as they are best suited to know what best for the hiring process ....... this was no surprise. Young was very inconvincing on tv last night as well. Bottom line. The public was hoodwinked and lapped it up. In 2 years time this will not affect the voters choice as they saved the jobs of many by rehiring them.

Are they trying to solve the mismanagement of Pertrotrin by hiring the same managers that mismanaged it into bankruptcy and debt? Or am I missing something? Honestly asking.

Espinet himself admitted that all previous Boards did tata with PT, yet he is placed in charge of its replacement?

[Monkey Man]

Aye all them positions jus for the stink ole bags and dutty mattresses that in petrotrin now

[Monkey Man]

Is aaa shame

[Pointman-IA]

So this is where my car ended up.

Oh well, let me go back to sleep. Zzzzzzz

[Monkey Man]

The mark of the devel

[kstt]

BTW with the rest of misinformation this goverment spread about Petrotrin to get their way.

The carpenter that got $70,000 a month was acting in a position and was not being paid for acting, so when he was finally paid he got a lumpsum and that is how he got the $70,000 but don't tell the haters or those wearing political blinders that.

[kstt]

Ah yes best strategy to get rid of the union and roget and we still "own" the company. Now everybody has to reapply with new terms and conditions...and lets run it with the same team than closed down the original company as they are best suited to know what best for the hiring process ....... this was no surprise. Young was very inconvincing on tv last night as well. Bottom line. The public was hoodwinked and lapped it up. In 2 years time this will not affect the voters choice as they saved the jobs of many by rehiring them.

Are they trying to solve the mismanagement of Pertrotrin by hiring the same managers that mismanaged it into bankruptcy and debt? Or am I missing something? Honestly asking.

https://m.youtube.com/watch?v=0EExchABEek

It's only ~1:00 long. Listen from 0:25. I need to see the figures to corroborate but like a typical Trini, let's run with the bachannal. Just like we ran with $45,000. $800MM annually for ~5,000 non-managerial employees vs $700MM for the ~400 managerial ones? Again, I have great respect for Statistics, so simple mean isn't the best way to describe a population, but if these figures are legit, that works out to ~$13k per employee per month vs. ~$146k per 'manager' per month??

However to add to Slartibartfast's question, Heritage is advertising for a CFO. Petrotrin recently hired a CFO, Mr. Campbell. Mr. Campbell was previously employed, prior to joining Petrotrin. He wasn't chilling at home nor is he fresh out of university. Is it then that Mr. Campbell is going to be transferred over to Heritage/Paria, like Espinet and Ajodhasingh were or are they hiring a whole new CFO? If it's the former, is there really transparency? If it's the latter, why would Mr. Campbell have left his previous place of employment, (to come to a company that would no longer exist mere weeks after he joined) in the first place?

EDIT: I was just thinking. Most of these positions from Heritage and Paria are reporting to a CEO. However, no advertisement has been put our for said CEO position. Now I'm not too verse in Business Law and process of appointing executives and what not, but the conspiracy theorist in me wants to ask why. Has someone already been earmarked for this position as well?? If so, again.....where is the transparency?? Trinidadian silence (particularly in the southland) in this matter then tells me that most of the public's 'concern' and buy-in (as per Mr. Young yesterday) had less to do with Petrotrin's position and more to do with Petrotrin's people.

I hearing Awah coming back too!

[Pointman-IA]

Ah yes best strategy to get rid of the union and roget and we still "own" the company. Now everybody has to reapply with new terms and conditions...and lets run it with the same team than closed down the original company as they are best suited to know what best for the hiring process ....... this was no surprise. Young was very inconvincing on tv last night as well. Bottom line. The public was hoodwinked and lapped it up. In 2 years time this will not affect the voters choice as they saved the jobs of many by rehiring them.

Are they trying to solve the mismanagement of Pertrotrin by hiring the same managers that mismanaged it into bankruptcy and debt? Or am I missing something? Honestly asking.

https://m.youtube.com/watch?v=0EExchABEek

It's only ~1:00 long. Listen from 0:25. I need to see the figures to corroborate but like a typical Trini, let's run with the bachannal. Just like we ran with $45,000. $800MM annually for ~5,000 non-managerial employees vs $700MM for the ~400 managerial ones? Again, I have great respect for Statistics, so simple mean isn't the best way to describe a population, but if these figures are legit, that works out to ~$13k per employee per month vs. ~$146k per 'manager' per month??

However to add to Slartibartfast's question, Heritage is advertising for a CFO. Petrotrin recently hired a CFO, Mr. Campbell. Mr. Campbell was previously employed, prior to joining Petrotrin. He wasn't chilling at home nor is he fresh out of university. Is it then that Mr. Campbell is going to be transferred over to Heritage/Paria, like Espinet and Ajodhasingh were or are they hiring a whole new CFO? If it's the former, is there really transparency? If it's the latter, why would Mr. Campbell have left his previous place of employment, (to come to a company that would no longer exist mere weeks after he joined) in the first place?

EDIT: I was just thinking. Most of these positions from Heritage and Paria are reporting to a CEO. However, no advertisement has been put our for said CEO position. Now I'm not too verse in Business Law and process of appointing executives and what not, but the conspiracy theorist in me wants to ask why. Has someone already been earmarked for this position as well?? If so, again.....where is the transparency?? Trinidadian silence (particularly in the southland) in this matter then tells me that most of the public's 'concern' and buy-in (as per Mr. Young yesterday) had less to do with Petrotrin's position and more to do with Petrotrin's people.

I hearing Awah coming back too!

You sounding like someone that drank with him down at Beach Camp.

[gastly369]

Ah yes best strategy to get rid of the union and roget and we still "own" the company. Now everybody has to reapply with new terms and conditions...and lets run it with the same team than closed down the original company as they are best suited to know what best for the hiring process ....... this was no surprise. Young was very inconvincing on tv last night as well. Bottom line. The public was hoodwinked and lapped it up. In 2 years time this will not affect the voters choice as they saved the jobs of many by rehiring them.

Are they trying to solve the mismanagement of Pertrotrin by hiring the same managers that mismanaged it into bankruptcy and debt? Or am I missing something? Honestly asking.

https://m.youtube.com/watch?v=0EExchABEek

It's only ~1:00 long. Listen from 0:25. I need to see the figures to corroborate but like a typical Trini, let's run with the bachannal. Just like we ran with $45,000. $800MM annually for ~5,000 non-managerial employees vs $700MM for the ~400 managerial ones? Again, I have great respect for Statistics, so simple mean isn't the best way to describe a population, but if these figures are legit, that works out to ~$13k per employee per month vs. ~$146k per 'manager' per month??

However to add to Slartibartfast's question, Heritage is advertising for a CFO. Petrotrin recently hired a CFO, Mr. Campbell. Mr. Campbell was previously employed, prior to joining Petrotrin. He wasn't chilling at home nor is he fresh out of university. Is it then that Mr. Campbell is going to be transferred over to Heritage/Paria, like Espinet and Ajodhasingh were or are they hiring a whole new CFO? If it's the former, is there really transparency? If it's the latter, why would Mr. Campbell have left his previous place of employment, (to come to a company that would no longer exist mere weeks after he joined) in the first place?

EDIT: I was just thinking. Most of these positions from Heritage and Paria are reporting to a CEO. However, no advertisement has been put our for said CEO position. Now I'm not too verse in Business Law and process of appointing executives and what not, but the conspiracy theorist in me wants to ask why. Has someone already been earmarked for this position as well?? If so, again.....where is the transparency?? Trinidadian silence (particularly in the southland) in this matter then tells me that most of the public's 'concern' and buy-in (as per Mr. Young yesterday) had less to do with Petrotrin's position and more to do with Petrotrin's people.

I hearing Awah coming back too!

You sounding like someone that drank with him down at Beach Camp.

[kstt]

It is alleged that Nigel Campbell was hired as the new Finance Manager of Petrotrin from next week?

Are they firing or hiring?

*crickets*

[Pointman-IA]

It is alleged that Nigel Campbell was hired as the new Finance Manager of Petrotrin from next week?

Are they firing or hiring?

*crickets*

Awah told you this as well?

[gastly369]

Awah pc ah ham for meh Christmas

[K74T]

[snypaz]

Who's leaking his compensation package though?