Petrotrin refinery shut down

[nervewrecker]

I like how a man say salaries are 50% of operating costs yes.

Talk about wrong info.

Last I read was just over 10%

[nos_specialist]

Things feeling reall grim in here right now... but no information to Operations Staff yet.

[rspann]

I like how a man say salaries are 50% of operating costs yes.

Talk about wrong info.

Last I read was just over 10%

It went from 6...to 7....to 9.... to 11% and that is taking overtime, pensions ,management salaries and perks according to the last audit. Roget was on a programme earlier in the week discussing it.

[airuma]

Refinery staff came to work this morning and are reeling in shock here....apparently 3pm yesterday decision was made by government to shut down the refinery and terminate the employees...confirmation that it is true... we have enough oil to refine for two weeks...they are not making provisions to buy more oil...so looking like 1900 refinery workers are now out of a job.

if they lock out refining staff....then whats the relevance of how much oil they have to refine??
no staff=no refining.

Something eh adding up

Since when things “adding up” when it comes to petrotrin?

[neilsingh100]

I like how a man say salaries are 50% of operating costs yes.

Talk about wrong info.

Last I read was just over 10%

It went from 6...to 7....to 9.... to 11% and that is taking overtime, pensions ,management salaries and perks according to the last audit. Roget was on a programme earlier in the week discussing it.

Makes no difference what the actual figure as long as Petrotrin running at a loss. Petrotrin is a net user of foreign exchange and is not in a position to pay taxes/royalties or its debt when it becomes due so it is close to insolvency. How it got here is clearly mis-management and what is clear government running an integrated oil company is a bad idea. Employees would have benefited from Petrotrin is the past so need to make some sacrifice now if not the government could let the company go bankrupt and let the creditors liquidate it similar to what happened to Mittal.

[nervewrecker]

Government bail out other places that contributed nothing to Trinidad and Tobago and they screwed up themselves.

Government is the reason Petrotrin in debt, they should clean their own mess up. Instead they choose to preach doom and gloom so they can shut it down and give it to financiers.

[EFFECTIC DESIGNS]

The Rowley PNM might be even more dotish than the Manning PNM. But even with that if you look at the world globally more and more countries are pushing renewable energy harder and harder. Hybrid cars right here in Trinidad are exploding in popularity, if something isn't done soon to diversify our economy we will end up like Haiti one day.

Trinidad is too corrupt to get anything done, I keep hearing PNM supporters at my work saying that oil can't done sell because big oil companies won't allow renewable energy to take over but what these cacaholes don't realize is that these same big oil companies has the resources to invest in the same renewable energy if push come to shove.

[nervewrecker]

Diversity into what though?

Tourism?

[Gladiator]

The Rowley PNM might be even more dotish than the Manning PNM. But even with that if you look at the world globally more and more countries are pushing renewable energy harder and harder. Hybrid cars right here in Trinidad are exploding in popularity, if something isn't done soon to diversify our economy we will end up like Haiti one day.

Trinidad is too corrupt to get anything done, I keep hearing PNM supporters at my work saying that oil can't done sell because big oil companies won't allow renewable energy to take over but what these cacaholes don't realize is that these same big oil companies has the resources to invest in the same renewable energy if push come to shove.

Why do these dum dums think that to diversify they need to shut down the refinery which is our major source of income. I feel this is just an elaborate plot to dismantle their biggest threat, Roget and the OWTU and sell out as usual to the 1%.

[EFFECTIC DESIGNS]

Diversity into what though?

Tourism?

Nah this place too stink for Tourism, Trinis can't even use a trash can.
We need to think bigger than that

It is probably more along the lines of things like the Cocoa industry, legalizing cannabis and brewing cannabis beer for export like what Canada is currently doing.

Unfortunately the PNM isn't smart enough so we are letting this opportunity slip by while Canada is taking full advantage of it.

https://money.cnn.com/2018/08/15/news/c ... index.html

Corona owner makes $4 billion bet on cannabis

There are things we can do to bring in some more foreign exchange but our leaders are not smart enough.

Canada isn't legalizing Cannabis because they think that it will free up the jail, they are doing it because of the money making potential involved a $38 Billion Industry. The Rowley government is too ignorant and incompetent in Trinidad to take advantage of this.

[eurotuner]

Real pd series van gine be up for sale / repo'd. Sad.

[wickedtuna]

This may b the logic ......to make flower pot and official beach lol

[pugboy]

so apart from the gas it refines for local consumption and np oils sold locally
what else does petrotrin make to sell and where ?

[stroke]

It is rumored that a major international oil/ gas company has its eye on petrotrin.

[ScHoolboySoloQ]

PNM wanted to sell this for years now.

[Redman]

I like how a man say salaries are 50% of operating costs yes.

Talk about wrong info.

Last I read was just over 10%

Nerve,what are the numbers?

Petrotrin accounts
https://www.petrotrin.com/~/media/Files ... une30.ashx

[hydroep]

The uncertainty about their future must be killing some of those workers...don't envy their position at all.

I wonder...when many of them stained their finger for the balisier if they ever thought things would come to this?

No matter, they'll probably have a lot of time to think about their decision...sooner than later...

[nervewrecker]

Refinery workers will be asked to reapply for their jobs. There will be massive job cuts across support groups. This is happening as early as Friday.
So the refinery is to be closed and a new company has been incorporated into a legal entity. What is left is the transfer of assets. The army has been brought in to be trained to run the refinery and learn the
running of the LLFP line to Caroni (diesel and aviation fuel). The coast guard is on their way to manage the bond.

Saw that on whatsapp

[sMASH]

that sent out by late o clock owah... regiment cant spell their own name too good, they going to run a plant?

[shake d livin wake d dead]

So bachannal today??

[EFFECTIC DESIGNS]

that sent out by late o clock owah... regiment cant spell their own name too good, they going to run a plant?

HAHA

[alfa]

Refinery workers will be asked to reapply for their jobs. There will be massive job cuts across support groups. This is happening as early as Friday.
So the refinery is to be closed and a new company has been incorporated into a legal entity. What is left is the transfer of assets. The army has been brought in to be trained to run the refinery and learn the
running of the LLFP line to Caroni (diesel and aviation fuel). The coast guard is on their way to manage the bond.

Saw that on whatsapp

I work petrotrin and haven't heard anything about army and all that. Even if the refinery is sold the only people who can operate it are the petrotrin refinery operators. Outsiders won't even know what valve controls what as most of the infrastructure are decades old and not computer program controlled. If it is sold it will take months for the new owners to familiarize themselves to operations. And there's no army presence currently as far as I know and no the army cannot run a refinery
Update. Just spoke to a friend in the refinery. All baseless rumors

[nismo1325]

sounds like they gna get a mittal special.

[hydroep]

Has anyone seen ropehead lately? All this bacchanal going on and the Minister of Labour/ former Trade Union Leader like she gone into hiding yes...

[kstt]

Refinery workers will be asked to reapply for their jobs. There will be massive job cuts across support groups. This is happening as early as Friday.
So the refinery is to be closed and a new company has been incorporated into a legal entity. What is left is the transfer of assets. The army has been brought in to be trained to run the refinery and learn the
running of the LLFP line to Caroni (diesel and aviation fuel). The coast guard is on their way to manage the bond.

Saw that on whatsapp

So we bringing people with the mental capacity and qualification of a police officer to run a refinery?

[Redman]

Refinery workers will be asked to reapply for their jobs. There will be massive job cuts across support groups. This is happening as early as Friday.
So the refinery is to be closed and a new company has been incorporated into a legal entity. What is left is the transfer of assets. The army has been brought in to be trained to run the refinery and learn the
running of the LLFP line to Caroni (diesel and aviation fuel). The coast guard is on their way to manage the bond.

Saw that on whatsapp

I work petrotrin and haven't heard anything about army and all that. Even if the refinery is sold the only people who can operate it are the petrotrin refinery operators. Outsiders won't even know what valve controls what as most of the infrastructure are decades old and not computer program controlled. If it is sold it will take months for the new owners to familiarize themselves to operations. And there's no army presence currently as far as I know and no the army cannot run a refinery
Update. Just spoke to a friend in the refinery. All baseless rumors

People prefer to deal in scandal.
Not in facts.

How can it make sense to bring in TTDF to RUN the most complicated operation we have to run?
While anything is possible....that seems so far out...it eh worth taking seriously
We all have a responsibility to sift sheeeit from shinola
better to stay quiet.

[The_Honourable]

We shall overcome... we shall overcome...

Oh deep in my heart... i do believe...

We shall overcome sooomedaaaaay...

[Redman]

https://newsday.co.tt/2018/07/30/petrot ... -finances/

The ad said that as of June 30, salaries and wages were 52.8 per cent of Petrotrin’s operating cost-- $2.19 billion out of $4.15 billion. Its 3,437 permanent employees cost $1.87 billion annually, an average of $544,370 per employee, or $45,000 a month. Its 1,229 on-permanent employees cost $320 million— $260,374 per employee or about $21,000 a month. Its overtime bill for 2016 and 2017 averaged $22.7 million per month.

You would notice that the financials posted by Petrotrin do not disclose any of the numbers that the ad used.

We all know the 3 types of lies: 1)lies,2)damn lies and 3)statistics.

[sMASH]

out of curiosity, what does petrotrin/np supply that trinidad needs? say like the top 5 or 10 things that come from petrotrin/np that the country uses, and would be way more tedious to import outright from another country or for locals to buy from a foreign company?

[neilsingh100]

out of curiosity, what does petrotrin/np supply that trinidad needs? say like the top 5 or 10 things that come from petrotrin/np that the country uses, and would be way more tedious to import outright from another country or for locals to buy from a foreign company?

If we import the products that Petrotrin produce (e.g. gasoline, diesel, jet fuel etc) it would cost us less and we would get higher quality products. We can sell the 60,000 barrels of oil we produce each day to offset the cost of imports and still may be able to earn a couple 100million USD profit annually. Petrotrin really does not add much value to our economy anymore despite what the union leads people to believe. Imagine the government is using our foreign reserves so that Petrotrin can import oil that they refine at a loss.