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Petrotrin refinery shut down

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sMASH
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Re: Petrotrin refinery shut down

Postby sMASH » September 20th, 2019, 9:33 pm

the spanish company is an operations company. are there any additional investors into this venture?

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Re: Petrotrin refinery shut down

Postby De Dragon » September 20th, 2019, 11:11 pm

PT dead now.

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Re: Petrotrin refinery shut down

Postby zoom rader » September 20th, 2019, 11:40 pm

De Dragon wrote:PT dead now.
Nope its non 99%

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Re: Petrotrin refinery shut down

Postby De Dragon » September 20th, 2019, 11:54 pm

zoom rader wrote:
De Dragon wrote:PT dead now.
Nope its non 99%

Much as you may despise them, they know how to make money. Who is going to ensure that PT is disciplined enough now to do that? Roget? Warwick?

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Re: Petrotrin refinery shut down

Postby zoom rader » September 21st, 2019, 12:20 am

De Dragon wrote:
zoom rader wrote:
De Dragon wrote:PT dead now.
Nope its non 99%

Much as you may despise them, they know how to make money. Who is going to ensure that PT is disciplined enough now to do that? Roget? Warwick?
They will be puppets

Remember they are a PNM trade union

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Re: Petrotrin refinery shut down

Postby pugboy » September 21st, 2019, 7:54 am

so they gonna upgrade the refinery to produce fuel of similar quality to what we getting now
or back to the old dirty diesel ?

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Re: Petrotrin refinery shut down

Postby vaiostation » September 21st, 2019, 7:58 am

Hopefully when de refinery start back up, Monkey Man will be able to get back his job, and would now be able to buy internet, and soon return to 2ner...

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Re: Petrotrin refinery shut down

Postby Curtms » September 21st, 2019, 9:09 am

In line with gtl start up ?

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Re: Petrotrin refinery shut down

Postby shake d livin wake d dead » September 21st, 2019, 9:17 am

So OWTU have 700mili usd in an account stashed away...nice nice

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Re: Petrotrin refinery shut down

Postby zoom rader » September 21st, 2019, 9:25 am

shake d livin wake d dead wrote:So OWTU have 700mili usd in an account stashed away...nice nice
Well its not 99% money

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Re: Petrotrin refinery shut down

Postby toyolink » September 21st, 2019, 10:29 am

The restart of a viable refinery operation is more than welcomed.
Reconciliation of the values and culture of a trade union with those of a profit oriented business is extremely difficult to manifest and this venture's success possibilities is subject to the resultant risks.
One can only be hopeful for the benefit of many.

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Re: Petrotrin refinery shut down

Postby sMASH » September 21st, 2019, 10:39 am

shake d livin wake d dead wrote:So OWTU have 700mili usd in an account stashed away...nice nice

probably they found some lying around in a starbucks, or a massey stores somewhere.
i want them to state who their backers are..

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Re: Petrotrin refinery shut down

Postby The_Honourable » September 21st, 2019, 11:00 am

The country is truly in a state of shock with this decision to accept the offer of the OWTU for both the refinery and Paria Fuel trading. The questions I will ask are as follows:

1. Was this a political decision or an economic decision?

2. Where is the OWTU sourcing $US700 million and who is going to supply that money to them?

3. Why the need for a 3 year moratorium on payments ? So our plant and equipment will be utilized for three years and depreciated before we get a red cent ?

4. What is the cost of starting the refinery after it's been down for a year and neglected since 2015?

5. How is the refinery going to compete against US refineries which are getting cheap shale gas and cheaper crude oil and are in their golden age.

6. What is the role of Trafigura in this entire deal ? They were mentioned by the Minister of Finance in his statement.

7. Will the refinery be subject to the same rates of corporation tax that Petrotrin paid ?

8. Are we saying that the OWTU will now have the sole right to supply the country with fuel? How does that affect out energy security?

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Re: Petrotrin refinery shut down

Postby Redman » September 21st, 2019, 11:47 am

If the justification for the union getting the nod is that they offered 700M to buy-then how is there a moratorium???

And not just a moratorium-but one that leads to a financed pay off?

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Re: Petrotrin refinery shut down

Postby Rovin » September 21st, 2019, 11:50 am

what d govt gonna build with that huge windfall - ah next stadium ? , wonder how much kickbacks some of dem getting from this

i dont trust d owtu at all too .......

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Re: Petrotrin refinery shut down

Postby teems1 » September 21st, 2019, 12:16 pm

Rovin wrote:what d govt gonna build with that huge windfall - ah next stadium ? , wonder how much kickbacks some of dem getting from this

i dont trust d owtu at all too .......


Windfall?

That should go back to paying off the GTL fiasco loan.

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Re: Petrotrin refinery shut down

Postby zoom rader » September 21st, 2019, 12:19 pm

Why don't you all connect the dots

Its not 99% money

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Re: Petrotrin refinery shut down

Postby pugboy » September 21st, 2019, 1:15 pm

I read owtu getting Paris fuel trading in the deal,
So owtu in charge of fuel supply to the country?
A scary thought.

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Re: Petrotrin refinery shut down

Postby rspann » September 21st, 2019, 1:25 pm

The voice that would have strongly opposed shitkickers will now be silent.

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Re: Petrotrin refinery shut down

Postby speedmelter » September 21st, 2019, 1:32 pm

This country is on the brink of collapse.. I don’t think most people are noticing it

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Re: Petrotrin refinery shut down

Postby zoom rader » September 21st, 2019, 1:35 pm

rspann wrote:The voice that would have strongly opposed shitkickers will now be silent.
They were always a PNM trade union since Mc left.

Nearly all trade unions are sub divisions of PNM

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Re: Petrotrin refinery shut down

Postby zoom rader » September 21st, 2019, 1:37 pm

speedmelter wrote:This country is on the brink of collapse.. I don’t think most people are noticing it
The following people don't think so

One eye
Randolphinshan
Redman
Mero
Eliteauto
Dwane

And Rohan spann

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Re: Petrotrin refinery shut down

Postby pugboy » September 21st, 2019, 1:42 pm

yuh put spann separate,
like he is a 1%

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Re: Petrotrin refinery shut down

Postby rspann » September 21st, 2019, 1:44 pm

Nah. Growlers doing a good job. The country happppy.

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Re: Petrotrin refinery shut down

Postby rspann » September 21st, 2019, 1:48 pm

pugboy wrote:yuh put spann separate,
like he is a 1%


Ent you know ah 1percenter adopt mih?

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Re: Petrotrin refinery shut down

Postby zoom rader » September 21st, 2019, 1:49 pm

rspann wrote:Nah. Growlers doing a good job. The country happppy.
Refinery safe and PNM victory thanks to the non 99%

In the stock market they call this shorting a share with insider trading

A win win while you loose

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Re: Petrotrin refinery shut down

Postby rspann » September 21st, 2019, 1:52 pm

zoom rader wrote:
speedmelter wrote:This country is on the brink of collapse.. I don’t think most people are noticing it
The following people don't think so

One eye
Randolphinshan
Redman
Mero
Eliteauto
Dwane

And Rohan spann



You only fraid that if Growlers run the country for one more year, people go hadda eat grass and yuh cows going to suffer for food.

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Re: Petrotrin refinery shut down

Postby zoom rader » September 21st, 2019, 1:55 pm

rspann wrote:
zoom rader wrote:
speedmelter wrote:This country is on the brink of collapse.. I don’t think most people are noticing it
The following people don't think so

One eye
Randolphinshan
Redman
Mero
Eliteauto
Dwane

And Rohan spann



You only fraid that if Growlers run the country for one more year, people go hadda eat grass and yuh cows going to suffer for food.
I have a venny seeing about dem cow now and so dem PNM ppl vex

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Re: Petrotrin refinery shut down

Postby bluefete » September 21st, 2019, 7:54 pm

I hope you are ready to read this.


GR Rampersad
5 hrs

In October,2018 it was reported that the Oilfield Workers’ Trade Union (OWTU) has had a change of heart. And will do so with foreign partners.

The union’s partners in this new proposal are Suriname-based investment bank SunStone Equity and MAK England LLC, a commodities trader with operations in the US, UK and UAE.

SunStone was reportedly responsible for creating a financial model for the acquisition of Petrotrin that was “acceptable to the government and the people of TT.” MAK will provide the crude oil needed to run the refinery as well as provide management.

Given the Rowley led PNM government decision to sell the Petrotrin refinery to Patriotic Energies and Technologies Company Limited, one must wonder if SunStone is involved in the deal.

I would like to ask if SunStone Equity is directly or indirectly involved in the contract arrangement.

SunStone Equity Nv (SunStone) is a Caribbean private investment Fund platform chartered in the Republic of Suriname, South America. Surinam is an independent Dutch speaking country located between Guyana (west), French Guiana (East) and Brazil ( to the South) and a full member of Caricom.

☆☆☆SunStone was established in January, 2015 under Suriname law.

SunStone provides private investment fund platforms. Our services are to sovereign, private and corporate clients worldwide in a protected environment supervised by a Trustee. SunStone maintains offices in both Surinam and Trinidad & Tobago.

Trinidad Acquisition done by SunStone Equities 2015

​SunStone Equities NV the acquired 35%equity in Zircon Minerals Ltd, a sales and Marketing company specializing in silica & Aggregate distribution in Trinidad & Tobago. It is "guesstimated" that CAD will sell over 1.2 million tons of Silica and 500,000 tons of aggregate by the end of 2018-19.

SunStone recently announced the formation of a daughter concern, United Merchant Services Ltd, a Trinidad & Tobago company, that will provide affordable merchant processing services for merchants both in the Caribbean and beyond Annual sales are anticipated above 600 million annually, which will give UMS a volume price advantage in needs to extend savings to its clients and enhance the performance of the fund

☆☆☆The Chinese connection.

SunStone CEO, John E. van Dyke has joined the Unison group of Trinidad & Tobago. Unison is a consulting firm whom through strategic relationships helps guide large scale infrastructure and social housing projects to success in the region. It acts as a liaison group between government, private enterprise and two of China's largest companies, China Railroad and China Harbor. At present projects in Grenada, Tobago, Trinidad and Suriname are being evaluated.

Chinese companies have been the centre of questionable ethics behaviour Bangladesh which blacklisted a top Chinese construction firm for allegedly trying to bribe a senior government official and stopped its work in the country.

In 2018, China Harbour Engineering was publicly accused of offering a bribe to a government official in connection with a highway construction project in Bangladesh.

The World Bank debarred China Railway Construction Corporation and its wholly owned subsidiaries, China Railway 23rd Bureau Group Co and China Railway Construction (International), for nine months recently, citing misconduct during the procurement process for the ‘East-West Highway Corridor Improvement Project’ in Georgia.

In August 2019 the World Bank blacklisted six Chinese companies currently operating in Nigeria over alleged fraud and corruption.

The companies, according to an announcement published on the World Bank’s website, are CCECC Nigeria Railway Company Limited, CRCC Petroleum and Gas Company Limited and CCECC Nigeria Company Limited.

Others are China Railway Construction (International) Nigeria Company Limited, China Railway 18th Bureau Nigeria Engineering Company Limited and CCECC Nigeria Lekki (FTA) Company Limited.

Companies involved in World Bank projects including contracts are obliged to adhere strictly to the guidelines, which stipulate a high level of ethics and frowns on all manner of fraud and corruption including bribery and misappropriation of funds.

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Re: Petrotrin refinery shut down

Postby zoom rader » September 21st, 2019, 9:26 pm

^^^ its called shorting a share and its a form of insider trading with no legal repercussions.

Was a set up ever since PNM stole the last election. Owtu played with the devil and PNM won elections

US and UK watching this very closely

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