Petrotrin refinery shut down

[zoom rader]

Owtu post out N hour long explainer ... They need to sort out the the security deposit issue that pnm blaming them fir

Owtu is full of , they paired with PNM and now facing the music.

This is what you get used & abused by PNM.

Trade unions are nothing more than PNM arms.

I don't give two fvcks about these PNM unions

[The_Honourable]

Chairman of Heritage Petroleum, Senior Counsel Michael Quamina, says some potential buyers for the Pointe-a-Pierre Refinery seemed to be interested in the deal only for the purchase of Paria Fuel Trading Company.

Speaking during a Public Accounts Committee of Parliament on Wednesday, he said: "We would actually be very clear that Paria is not part of the deal, and people were putting proposals with Paria included in the deal. And in fact, I would tell you, there were some prospective persons that actually, you could tell that they were actually after Paria and not the Refinery."

[hover11]

Chairman of Heritage Petroleum, Senior Counsel Michael Quamina, says some potential buyers for the Pointe-a-Pierre Refinery seemed to be interested in the deal only for the purchase of Paria Fuel Trading Company.

Speaking during a Public Accounts Committee of Parliament on Wednesday, he said: "We would actually be very clear that Paria is not part of the deal, and people were putting proposals with Paria included in the deal. And in fact, I would tell you, there were some prospective persons that actually, you could tell that they were actually after Paria and not the Refinery."

In essence nobody want our scrap iron

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[alfa]

They could have just given the union then rather than leave it to slowly rust to pieces. Let the union work it on a lease

[hover11]

They could have just given the union then rather than leave it to slowly rust to pieces. Let the union work it on a lease

PNM rather cut off their nose and spoil their face , imagine shutting down petrotrin with no clear cut plan to prop the economy

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[sMASH]

https://www.facebook.com/julien.vargas. ... tid=9drbnH



Soooo, our country is now the laffing stock of the region and the regional energy sector.

Simple maths : buy crude at $80/barrel , add value, sell product at $180/barrel.
Rowley shut diwn the refinery to save nazim Baksh , and crash the forex sector and south economy


Brain scan alllll dem Lefffff foot ritttttte foot

[theview868]

Yes I saw the same thing and agreed crash the economy so save av drilling and friends ..I hope Trump hold him dealing with Maduro

[paid_influencer]

https://www.facebook.com/julien.vargas.984/videos/490942580719770/?idorvanity=348333290646415&ref=share&mibextid=9drbnH



Soooo, our country is now the laffing stock of the region and the regional energy sector.

Simple maths : buy crude at $80/barrel , add value, sell product at $180/barrel.
Rowley shut diwn the refinery to save nazim Baksh , and crash the forex sector and south economy


Brain scan alllll dem Lefffff foot ritttttte foot

what is great about the pnm in 2025

[theview868]

https://www.facebook.com/julien.vargas.984/videos/490942580719770/?idorvanity=348333290646415&ref=share&mibextid=9drbnH



Soooo, our country is now the laffing stock of the region and the regional energy sector.

Simple maths : buy crude at $80/barrel , add value, sell product at $180/barrel.
Rowley shut diwn the refinery to save nazim Baksh , and crash the forex sector and south economy


Brain scan alllll dem Lefffff foot ritttttte foot

what is great about the pnm in 2025

Failure and taxing ppl

[The_Honourable]

Refinery bids to be completed by month-end

Prime Minister Dr Keith Rowley anticipates that the bids for the Guaracara refinery and its ancillary assets (Petrotrin) will be completed by the end of the month, “hopefully with an announcement of the selected company, shortly thereafter”.

He said this yesterday at the annual Trinidad and Tobago Energy Conference, Hyatt Regency (Trinidad), Wrightson Road, Port of Spain. The three-day conference is themed Investing in the Future.

Rowley said the first offers were found to be less than satisfactory and were aborted and after a review expressions of interest were re-invited for the sale or lease of the Guaracara refinery and its ancillary assets.

“The expressions of interest were evaluated by an Evaluation Committee comprising industry professionals from whose recommendation, three companies were shortlisted. The next phase of the process comprises the submission by the companies of firm proposals and negotiations with the Evaluation Committee for the selection of the most suitable company. It is anticipated that the negotiations will be completed before the end of February 2025, hopefully with an announcement of the selected company, shortly thereafter,” he said.

“Given the careful detailed work that has been concluded on our efforts to restart refinery operations it is the expectation that Cabinet could soon be in a position to receive and sign off on the recommendations from the Technical Evaluation Committee which has been hard at work for the last few months,” Rowley said.

Petrotrin was restructured in 2018, leading to its closure and the creation of Trinidad Petroleum Holdings Limited (TPHL) as the parent holding company.

Under TPHL, three key subsidiaries were established: Heritage Petroleum Company Ltd, Paria Fuel Trading Company Ltd, and Guaracara Refining Company Ltd.

Its exploration and production operations were restructured into Heritage Petroleum Company Ltd while its provision of refined fuel products was taken on by Paria Fuel Trading Company Ltd (Paria).

The refinery was placed into Guaracara Refining Company Ltd, a subsidiary formed to preserve the refinery and to provide utility services to Paria.

Rowley further explained the reason for the restructuring, saying that when he took office in 2015, the sector was declining and industry confidence was low. He said this was coupled with Petrotrin’s plummeting production levels in its mature fields and accumulated debts.

“However, all was not well with the State Energy Company, Petrotrin. Its production levels in its mature fields were plummeting, it was overburdened by huge, accumulated debts and the most favourable forecasts were for ongoing billion-dollar losses in an environment where the national treasury could not assist further without great peril to the whole economy. Based on the advice of the then board of directors and a Government-appointed technical committee, the company was restructured into separate business units and the refinery was put up for sale or lease as the Government continued to keep and service upwards of US$450 million of Petrotrin debt,” said Rowley.

Rowley added that it is anticipated that the increase in upstream activity will arrest the decline and significantly improve the production of oil and gas.

https://trinidadexpress.com/business/lo ... 2992f.html

[sMASH]

https://www.facebook.com/julien.vargas.984/videos/490942580719770/?idorvanity=348333290646415&ref=share&mibextid=9drbnH



Soooo, our country is now the laffing stock of the region and the regional energy sector.

Simple maths : buy crude at $80/barrel , add value, sell product at $180/barrel.
Rowley shut diwn the refinery to save nazim Baksh , and crash the forex sector and south economy


Brain scan alllll dem Lefffff foot ritttttte foot

what is great about the pnm in 2025

Failure and taxing ppl

I notice that media questioned them about tnt being a laffing stock.... I wonder if they follow me on tuner ... Lol.

[K74T]

[The_Honourable]

Cabinet recommends Nigeria's Oando Trading to restart refinery

Cabinet has today taken a decision with respect to the refinery at Pointe a Pierre.

Acting Prime Minister Stuart Young announced that an Evaluation Committee recommended to Cabinet that Oando Trading be the preferred bidder for the Petrotrin refinery.

Cabinet has accepted this recommendation.

Cabinet also took a decision to inform Trinidad Petroleum Holdings Limited (TPHL) to the non-objection of the Evaluation Committee's recommendation for the sale or the lease of the refinery.

Young said the ball is now in TPHL's court to pursue the deal with Oando which has the money to restart the refinery and operationalise it.

He made the disclosure at a post-Cabinet press conference in Port of Spain on Thursday, and warned the population about those who may want to "scuttle" the deal.

Oando PLC is one of Africa’s leading energy solutions providers and has a primary listing on the Nigeria Stock Exchange and a secondary listing on the Johannesburg Stock Exchange.

The three companies whose proposals were evaluated were CRO Consortium, a locally based consortium; INCA Energy LLC, which is based in USA, and Oando PLC, which is based in Nigeria.

Prime Minister Dr Ketih Rowley said earlier this year that the Petrotrin refinery was closed because of an insufficient supply of oil and because the importing of oil was costing the country billions of dollars in losses. He said when the accounting rules changed in either 2017 or 2018, and the company had to write off its debt in order to have its accounts certified and Petrotrin had to write off $15 billion. He said after that when one projected how much money Petrotrin was going to make in the years ahead, from 2019, the best expectation was that they would make a billion dollars a year in losses. Furthermore Petrotrin had US$850 million to pay by August 2018. He said it was against that background that the Government intervened and the company was restructured. “The Minister of Finance is now getting royalties which Petrotrin was not paying, taxes which Petrotrin wasn’t paying and we are getting the profits from being the owner of the company... Meanwhile Paria is making a profit,” he said.

He said the first entity that the Government gave the option to run the refinery was the Oilfields Workers’ Trade Union (OWTU) but the company, Patriotic Energies and Technologies, could not even pay its lawyer and its accountant, far less purchase or operate the refinery and in fact was asking the Government to give it $500 million to buy the refinery.

https://trinidadexpress.com/newsextra/c ... bf158.html

[gastly369]

Nigeria yes.... *hahahaii

[Cantmis]

Lol

[sMASH]

Cabinet recommends Nigeria's Oando Trading to restart refinery

Cabinet has today taken a decision with respect to the refinery at Pointe a Pierre.

Acting Prime Minister Stuart Young announced that an Evaluation Committee recommended to Cabinet that Oando Trading be the preferred bidder for the Petrotrin refinery.

Cabinet has accepted this recommendation.

Cabinet also took a decision to inform Trinidad Petroleum Holdings Limited (TPHL) to the non-objection of the Evaluation Committee's recommendation for the sale or the lease of the refinery.

Young said the ball is now in TPHL's court to pursue the deal with Oando which has the money to restart the refinery and operationalise it.

He made the disclosure at a post-Cabinet press conference in Port of Spain on Thursday, and warned the population about those who may want to "scuttle" the deal.

Oando PLC is one of Africa’s leading energy solutions providers and has a primary listing on the Nigeria Stock Exchange and a secondary listing on the Johannesburg Stock Exchange.

The three companies whose proposals were evaluated were CRO Consortium, a locally based consortium; INCA Energy LLC, which is based in USA, and Oando PLC, which is based in Nigeria.

Prime Minister Dr Ketih Rowley said earlier this year that the Petrotrin refinery was closed because of an insufficient supply of oil and because the importing of oil was costing the country billions of dollars in losses. He said when the accounting rules changed in either 2017 or 2018, and the company had to write off its debt in order to have its accounts certified and Petrotrin had to write off $15 billion. He said after that when one projected how much money Petrotrin was going to make in the years ahead, from 2019, the best expectation was that they would make a billion dollars a year in losses. Furthermore Petrotrin had US$850 million to pay by August 2018. He said it was against that background that the Government intervened and the company was restructured. “The Minister of Finance is now getting royalties which Petrotrin was not paying, taxes which Petrotrin wasn’t paying and we are getting the profits from being the owner of the company... Meanwhile Paria is making a profit,” he said.

He said the first entity that the Government gave the option to run the refinery was the Oilfields Workers’ Trade Union (OWTU) but the company, Patriotic Energies and Technologies, could not even pay its lawyer and its accountant, far less purchase or operate the refinery and in fact was asking the Government to give it $500 million to buy the refinery.

https://trinidadexpress.com/newsextra/c ... bf158.html

Offer for the refinery? General elections must be close ....

[hover11]

So PNM closed the refinery only to reopen it thus solving the problem that they inherently created......interesting

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[paid_influencer]

redlina was on davidsbeenhere and the man park up infront the refinery and almost in tears how he fadda loss he wok and siddongby the bar sad donno what to do. them kill the soul of south when they close petrotrin, south not the same after that

https://youtu.be/P0rEDBEt9Lc?t=1534

[sMASH]

Stuart and his Nigerian prince

[hover11]

While dumb conts like mero yapping.....petrotrin was turning profits unlike CAL. At least petrotrin was filing financial reports. The country doesn't have a clue if the airline making money , losing money or how it's being spent ...

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[Dizzy28]

While dumb conts like mero yapping.....petrotrin was turning profits unlike CAL. At least petrotrin was filing financial reports. The country doesn't have a clue if the airline making money , losing money or how it's being spent ...

FB_IMG_1740772164579.jpg

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Operating profit doesn't take into account interest and taxes

[hover11]

While dumb conts like mero yapping.....petrotrin was turning profits unlike CAL. At least petrotrin was filing financial reports. The country doesn't have a clue if the airline making money , losing money or how it's being spent ...

FB_IMG_1740772164579.jpg

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Operating profit doesn't take into account interest and taxes

Where are the financial reports for CAL.... if PNM saying we scrapping everything that not turning a profit, then why is CAL still operating? Nobody answering that? The government's justification for dissolving petrotrin was because it cannot turn a profit yet no state institution is turning any profit at the moment

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[The_Honourable]

From Stuart Young:

I am compelled to respond to another unfortunate attempt by Mrs Kamla Persad Bissessar, SC, leader of the UNC and Opposition Leader, to mislead the population with respect to the facts surrounding the financial standing of Petrotrin in 2018.

In today’s Guardian newspaper Mrs Persad Bissessar is quoted as saying that Petrotrin made a profit in 2018.

I have attached the relevant pages of the Consolidated Financial Statements for Petrotrin for 2018 which clearly show a $16.487 billion loss for 2018.

It is also concerning that a former Prime Minister aspiring to lead our country again would continually attempt to mislead the population and indicate to potential investors that she and her party would not honour legal agreements that may be entered into for the benefit of the citizens of Trinidad and Tobago.

The behaviour of the UNC leader is most unfortunate and unbecoming.

Make your choices very carefully.

Stuart R. Young, SC, MP
Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister
February 28, 2025

https://www.facebook.com/share/p/1CTLKAVexQ/

[sMASH]

Why restart a refinery that was crashing the country when it was running

[pugboy]

nigerian oil refinery, ghanaian yams
and giant african snails
we can’t go wrong

[hover11]

Why restart a refinery that was crashing the country when it was running

To come in like a hero and save the day

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[VexXx Dogg]

Why restart a refinery that was crashing the country when it was running

Because the refinery itself wasn’t the only issue.
The organizational structure was screwed and protected by arguably the most powerful union in TT at the time.

[hover11]

Why restart a refinery that was crashing the country when it was running

Because the refinery itself wasn’t the only issue.
The organizational structure was screwed and protected by arguably the most powerful union in TT at the time.

That didn't happen overnight though, anyway would love to see what they do to WASA

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[sMASH]

Why restart a refinery that was crashing the country when it was running

Because the refinery itself wasn’t the only issue.
The organizational structure was screwed and protected by arguably the most powerful union in TT at the time.

That didn't happen overnight though, anyway would love to see what they do to WASA

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They indicated they wanted to do the same ting wasa and ttec since before they pull the trigger on petrotrin.

If the problem was administrative/org, why not resume it via the govt and not sell it off?
Seeing as u got rid of what was deemed the problem...

[matr1x]

Wait until the giant African snail start to morph into Nigerian workers