Petrotrin refinery shut down

[Pointman-IA]

The writing has been on the wall for the last 10 years.

Some individuals did not care if Monday fall on a Thursday.

Alot of systems had deteriorated over the years due to the politics.

[Mr President]

Petrotrin exec:

While there was an ex­pec­ta­tion of a launch of the two new com­pa­nies last week­end, the T&T Guardian was in­formed that there will be no launch un­til both com­pa­nies are ful­ly out­fit­ted with the man­pow­er re­quired. Ac­cord­ing to our source, the com­pa­nies will not just be “lean and mean, with a new cul­ture which does not in­clude nepo­tism and waste,” but will al­so be “fun­da­men­tal­ly dif­fer­ent” to Petrotrin, which was an in­te­grat­ed com­pa­ny pro­duc­ing crude, re­fin­ing the prod­uct and then sell­ing it.

In the case of the two new com­pa­nies, Her­itage will pro­duce the crude for ex­port while Paria will have the re­spon­si­bil­i­ty of im­port­ing re­fined prod­ucts to sell lo­cal­ly and in the Caribbean.

As for LPG, the T&T Guardian was told the source of sup­ply will be Phoenix Park Gas Proces­sors Lim­it­ed (PPG­PL), but there may be a need for some kind of sub­sidy from the Gov­ern­ment. Cur­rent­ly, Petrotrin sub­si­dized the cost of LPG to the tune of $200 mil­lion.

Petrotrin chair­man Wil­fred Es­pinet was un­avail­able for com­ment on the new com­pa­nies yes­ter­day, as he was said to be in meet­ings. Calls to his mo­bile phone al­so went unan­swered.

Ef­forts to reach En­er­gy Min­is­ter Franklin Khan on the is­sue were al­so un­suc­cess­ful.
http://www.guardian.co.tt/news/petrotri ... c965ee5140

[MG Man]

Again.. I'm aware of how it's done ...

So the market has been so bad in 18 years that ...anyhow never mind ... Carry on

You won't understand unless you're in the situation... anyhow never mind....Carry on

an 18 year situation?
Agree to terms and conditions because it suits your plans, but when you are now held to those terms and conditions, now you crying?

[sMASH]

[neilsingh100]

No mention of JP Morgan and Honeywell.

OWTU makes Petrotrin bid

The Oilfield Workers’ Trade Union (OWTU) has apparently had a change of heart and taken up the Prime Minister’s offer to make a bid for the Pointe-a-Pierre refinery.

The union will present its proposal—a lease to own arrangement— to state oil company Petrotrin’s board at a time to be determined, but OWTU’s president general Ancel Roget said that the move is “the greatest act of patriotism in recent time.”

The union has partnered with Caribbean investment bank SunStone Equity, based in Suriname, and MAK England, a commodities trading firm with operations in the UK, the US and UAE.

SunStone helped the union come up with the proposal, while MAK will provide the crude oil necessary to sustain the refinery as well as the managerial expertise.

Roget said the union’s plan will save all the jobs currently on the line as Petrotrin continues with its planned shut-down of the 101-year-old refinery. He declined to give more details of the proposal until the union meets with Petrotrin

Source: https://newsday.co.tt/2018/10/17/owtu-m ... otrin-bid/

[Pointman-IA]

An interesting development.
However, one can assume that corporation sole is already bent on creating a playing field that does not involve the labour movement.

[Numb3r4]

Can anyone shed any details of the make up of the new companies?

[pugboy]

Those "equity" partner companies can be very hit and miss
They have long history esp with hedge fund backing

https://edition.cnn.com/2018/10/16/inve ... index.html

[abducted]

Reynold Ajodhasingh is a Director in Trinidad & Tobago IFC and Minister Stuart Young's father is the Chairman of Trinidad & Tobago IFC

https://www.ttifc.co.tt/index.php/meet- ... -directors

[De Dragon]

Jealousy! The small man from Sea Lots make he way and ollour jealous!
When he bring in Burkie as head ah security ollour go see!

[Joshie23]

Can anyone shed any details of the make up of the new companies?

When we find out, we'll let you know. The whole country (well most of us..looking at you, Willie, Rennie and Keith) is in the dark bro. Talking to some Petrotrin people and they're lost. Anyone have Willie's number? How do those reporters get their numbers??

Reynold Ajodhasingh is a Director in Trinidad & Tobago IFC and Minister Stuart Young's father is the Chairman of Trinidad & Tobago IFC

https://www.ttifc.co.tt/index.php/meet- ... -directors

Meh. Conspiracy, coincidence or otherwise, I'm waiting on neilsingh100 et al. to denounce any relevance.

[The_Honourable]

This country stands to benefit tremendously if the latest proposal by the Oilfields Workers' Trade Union is accepted.

Financier John Van Dyke, who is the CEO of Sunstone Equity, says the refinery is not only viable but very profitable.

He was speaking at a media presentation at the Radisson Hotel, where the OWTU revealed the proposal.

[matr1x]

Red and ready

[rspann]

Jealousy! The small man from Sea Lots make he way and ollour jealous!
When he bring in Burkie as head ah security ollour go see!

What is AeroMarine address?

[gastly369]

Reynold Ajodhasingh is a Director in Trinidad & Tobago IFC and Minister Stuart Young's father is the Chairman of Trinidad & Tobago IFC

https://www.ttifc.co.tt/index.php/meet- ... -directors

Ohh yes Kaka Pon kaka .....

[sMASH]

To all the marlene, espinet , goebbels, Hinds, smiley,
Allyuh more loyal than allll penal man.

Allyuh gt. Congratulations

[shake d livin wake d dead]

Espinet gt yes

[Redress10]

This country stands to benefit tremendously if the latest proposal by the Oilfields Workers' Trade Union is accepted.

Financier John Van Dyke, who is the CEO of Sunstone Equity, says the refinery is not only viable but very profitable.

He was speaking at a media presentation at the Radisson Hotel, where the OWTU revealed the proposal.

I thought Massa days done?

So OWTU had to begging to the white man for relief....lmao

I thought Rouget had a cheque he was ready to write.

[rspann]

Aye look Aeromarine have the same address as Heritage director. Who own Aeromarine?

[rspann]

Espinet gt yes

He gt long time now.

[The_Honourable]

Leaked documents show Wilfred Espinet and Reynold Ajodhasingh as directors of heritage petroleum company. But what does this mean for the company and future of the industry?

[shake d livin wake d dead]

Same faith as petrochin?

[tr1ad]

This country stands to benefit tremendously if the latest proposal by the Oilfields Workers' Trade Union is accepted.

Financier John Van Dyke, who is the CEO of Sunstone Equity, says the refinery is not only viable but very profitable.

He was speaking at a media presentation at the Radisson Hotel, where the OWTU revealed the proposal.

but... what is their experience in oil and gas / refining ?
just dump money and wait for returns?

[Redman]

I would surprised if that guy can get anything done.

[Numb3r4]

Does anyone have any information of the theory going about that this entire Petrotrin saga was a deliberate plan to shelter certain folks from investigation regarding a particular scandal?

Refinery is profitable now???

Why has the union not picked up on the theory being circulated, would that mean it is false?

[The_Honourable]

The fake oil scandal? I don't think they will shut down a company like that just to save A&V, have other ways you can do that...BUT... as sMASH put it...

Closing down the refinery killing multiple birds with one big stone. From removal of the forensic accounting evidence, to non non accountability of the board, to getting kickback to sell off the assets to the 1%...

Simple. Elegant. Catastrophic

[sMASH]

Does anyone have any information of the theory going about that this entire Petrotrin saga was a deliberate plan to shelter certain folks from investigation regarding a particular scandal?

Refinery is profitable now???

Why has the union not picked up on the theory being circulated, would that mean it is false?

u cant accuse someone of stealing from petrotrin, when there is no petrotrin.

[gastly369]

Does anyone have any information of the theory going about that this entire Petrotrin saga was a deliberate plan to shelter certain folks from investigation regarding a particular scandal?

Refinery is profitable now???

Why has the union not picked up on the theory being circulated, would that mean it is false?

u cant accuse someone of stealing from petrotrin, when there is no petrotrin.

#hammernail

[Mr President]

According to the union's "analyst", 4600 refinery jobs ($100M) would be saved whilst 400 managerial jobs ($700M) would be potentially expatriated per year in salaries alone.

[The_Honourable]

Educational Officer of the OWTU Ozzi Warwick said nobody was being held to account at Petrotrin and moving forward this will be implemented. Financier John Van Dyke, who is the CEO of Sunstone Equity, says the refinery is not only viable but very profitable.