Petrotrin refinery shut down

[bluefete]

PNM looking for election money and that fellow was prolly looking to facilitate them.

But he got wind of something and pulled out.

No one is saying why Rowley favoured him above all others and dragged him into the spotlight.

There is plenty more in the mortar then the pestle.

[wing]

PNM looking for election money and that fellow was prolly looking to facilitate them.

But he got wind of something and pulled out.

No one is saying why Rowley favoured him above all others and dragged him into the spotlight.

There is plenty more in the mortar then the pestle.

You never worked in the refinery. Hush your Kant, you don't know what you talking about.

[zoom rader]

PNM looking for election money and that fellow was prolly looking to facilitate them.

But he got wind of something and pulled out.

No one is saying why Rowley favoured him above all others and dragged him into the spotlight.

There is plenty more in the mortar then the pestle.

You never worked in the refinery. Hush your Kant, you don't know what you talking about.

Nor have you worked in the oil & Gas sector, and cleaners dont count.

Bluefete is more verse in these matters than other tuners

[pugboy]

so this chap have some shady mining dealings back in india
sounds like rowlee tobago padna

[Mmoney607]

so this chap have some shady mining dealings back in india
sounds like rowlee tobago padna

Is it a coincidence that rowley used to be ceo of national quarries?

[pugboy]

he padna get charged for illegal mining
and apply to get a mining license and get approved in 2 weeks
a mining license harder to get than ful

so this chap have some shady mining dealings back in india
sounds like rowlee tobago padna

Is it a coincidence that rowley used to be ceo of national quarries?

[wing]

PNM looking for election money and that fellow was prolly looking to facilitate them.

But he got wind of something and pulled out.

No one is saying why Rowley favoured him above all others and dragged him into the spotlight.

There is plenty more in the mortar then the pestle.

You never worked in the refinery. Hush your Kant, you don't know what you talking about.

Nor have you worked in the oil & Gas sector, and cleaners dont count.

Bluefete is more verse in these matters than other tuners

He ever work in the refinery? Or you too coward and a kant to answer?

[sMASH]

PNM looking for election money and that fellow was prolly looking to facilitate them.

But he got wind of something and pulled out.

No one is saying why Rowley favoured him above all others and dragged him into the spotlight.

There is plenty more in the mortar then the pestle.

You never worked in the refinery. Hush your Kant, you don't know what you talking about.

Nor have you worked in the oil & Gas sector, and cleaners dont count.

Bluefete is more verse in these matters than other tuners

He ever work in the refinery? Or you too coward and a kant to answer?

Blowing up niquan multiple times doesn't give u liberty to say u know bout plant , eh.

[zoom rader]

PNM looking for election money and that fellow was prolly looking to facilitate them.

But he got wind of something and pulled out.

No one is saying why Rowley favoured him above all others and dragged him into the spotlight.

There is plenty more in the mortar then the pestle.

You never worked in the refinery. Hush your Kant, you don't know what you talking about.

Nor have you worked in the oil & Gas sector, and cleaners dont count.

Bluefete is more verse in these matters than other tuners

He ever work in the refinery? Or you too coward and a kant to answer?

Bluefete been on tuner very long and his reports has always been spot on. He knows more about what's going on than u forgetting or just been a lil boy kant as you are.

Try researching his past posts and see what is fact from fiction. Very few tuners bump their gumbs on fiction.

Tuners are put in their place when they bring fiction and other Tuners will expose them, its why kants like Habit7 & urself are a laughing stock on tuner

[The_Honourable]

Imbert: 3 bidders shortlisted for refinery takeover

CABINET has agreed to a shortlist of three bidders for the takeover of the former Petrotrin refinery in Pointe-a-Pierre, Finance Minister Colm Imbert announced in his 2024/2025 budget presentation.

The bidders are CRO Consortium (a TT-based consortium, comprising DR Commodities Ltd, Chemie-Tech and Ocala), US-based iNca Energy LLC and Nigeria-based Dando PLC, selected by Scotia Capital (USA) and an evaluation committee, from a list of ten interested parties.

Scotia Capital was hired to manage the government’s third procurement process for the takeover.

"A formal selective request for proposals process will now be initiated to determine the winner of these companies," Imbert announced.

He said an evaluation committee, "comprising knowledgeable and experienced persons" had been selected from the public and private sectors, "to evaluate a complex transaction of this nature."

Imbert said Scotia Capital required potential bidders to address specific requirements in its expressions of interest, including proof of qualification to own and operate the refinery assets, experience in operating a refinery and evidence of the potential source of financing, among several others.

Imbert noted that the government tried to sell or lease the refinery twice since its closure but was unsuccessful because the preferred bidders "could not show any tangible evidence of their ability to raise the necessary capital to open and operate the refinery."

Patriotic Energies and Technologies Co Ltd, a company owned by the Oilfields Workers' Trade Union (OWTU) submitted a bid in 2019 and was initially given the nod to acquire the refinery.

Their bid faced challenges, owing to financing concerns, and negotiations eventually fell through.

In July, Jindal Steel and Power Ltd (JSPL), an Indian multinational company expressed an interest in taking over the refinery but withdrew in early August.

The PM blamed the Opposition for engaging in personal attacks against the owners, chasing JSPL away from the bid.

Imbert said, "In pursuit of the overarching objective to attract private sector investment for the reopening of the refinery, Trinidad Petroleum Company – the company holding assets for the defunct Petrotrin – commenced a third procurement process in 2024, with the solicitation of expressions of interest from new potential bidders, and the parties who participated in the previous two attempts."

He said the former refinery was unprofitable because it was overstaffed, operating with as much as five times the number of workers required for efficiency and "would never have been profitable under its previous configuration.

"However, the government believes that if the refinery can be reopened without any burden on the treasury, this will provide a number of benefits in terms of employment, increased economic activity, availability of locally-produced fuel and reinvigoration of fenceline communities."

He said taxpayers will be protected.

"It must be stressed that in this process, the government has no intention of exposing taxpayers to the recurring billion-dollar losses that occurred previously in the operation of the refinery...The success of this venture is predicated on the principle that it be at no cost to the taxpayer."

https://newsday.co.tt/2024/09/30/imbert ... -takeover/

[zoom rader]

Imbert: 3 bidders shortlisted for refinery takeover

CABINET has agreed to a shortlist of three bidders for the takeover of the former Petrotrin refinery in Pointe-a-Pierre, Finance Minister Colm Imbert announced in his 2024/2025 budget presentation.

The bidders are CRO Consortium (a TT-based consortium, comprising DR Commodities Ltd, Chemie-Tech and Ocala), US-based iNca Energy LLC and Nigeria-based Dando PLC, selected by Scotia Capital (USA) and an evaluation committee, from a list of ten interested parties.

Scotia Capital was hired to manage the government’s third procurement process for the takeover.

"A formal selective request for proposals process will now be initiated to determine the winner of these companies," Imbert announced.

He said an evaluation committee, "comprising knowledgeable and experienced persons" had been selected from the public and private sectors, "to evaluate a complex transaction of this nature."

Imbert said Scotia Capital required potential bidders to address specific requirements in its expressions of interest, including proof of qualification to own and operate the refinery assets, experience in operating a refinery and evidence of the potential source of financing, among several others.

Imbert noted that the government tried to sell or lease the refinery twice since its closure but was unsuccessful because the preferred bidders "could not show any tangible evidence of their ability to raise the necessary capital to open and operate the refinery."

Patriotic Energies and Technologies Co Ltd, a company owned by the Oilfields Workers' Trade Union (OWTU) submitted a bid in 2019 and was initially given the nod to acquire the refinery.

Their bid faced challenges, owing to financing concerns, and negotiations eventually fell through.

In July, Jindal Steel and Power Ltd (JSPL), an Indian multinational company expressed an interest in taking over the refinery but withdrew in early August.

The PM blamed the Opposition for engaging in personal attacks against the owners, chasing JSPL away from the bid.

Imbert said, "In pursuit of the overarching objective to attract private sector investment for the reopening of the refinery, Trinidad Petroleum Company – the company holding assets for the defunct Petrotrin – commenced a third procurement process in 2024, with the solicitation of expressions of interest from new potential bidders, and the parties who participated in the previous two attempts."

He said the former refinery was unprofitable because it was overstaffed, operating with as much as five times the number of workers required for efficiency and "would never have been profitable under its previous configuration.

"However, the government believes that if the refinery can be reopened without any burden on the treasury, this will provide a number of benefits in terms of employment, increased economic activity, availability of locally-produced fuel and reinvigoration of fenceline communities."

He said taxpayers will be protected.

"It must be stressed that in this process, the government has no intention of exposing taxpayers to the recurring billion-dollar losses that occurred previously in the operation of the refinery...The success of this venture is predicated on the principle that it be at no cost to the taxpayer."

https://newsday.co.tt/2024/09/30/imbert ... -takeover/

Total bullśĥîýt

[sMASH]

Imbert: 3 bidders shortlisted for refinery takeover

CABINET has agreed to a shortlist of three bidders for the takeover of the former Petrotrin refinery in Pointe-a-Pierre, Finance Minister Colm Imbert announced in his 2024/2025 budget presentation.

The bidders are CRO Consortium (a TT-based consortium, comprising DR Commodities Ltd, Chemie-Tech and Ocala), US-based iNca Energy LLC and Nigeria-based Dando PLC, selected by Scotia Capital (USA) and an evaluation committee, from a list of ten interested parties.

Scotia Capital was hired to manage the government’s third procurement process for the takeover.

"A formal selective request for proposals process will now be initiated to determine the winner of these companies," Imbert announced.

He said an evaluation committee, "comprising knowledgeable and experienced persons" had been selected from the public and private sectors, "to evaluate a complex transaction of this nature."

Imbert said Scotia Capital required potential bidders to address specific requirements in its expressions of interest, including proof of qualification to own and operate the refinery assets, experience in operating a refinery and evidence of the potential source of financing, among several others.

Imbert noted that the government tried to sell or lease the refinery twice since its closure but was unsuccessful because the preferred bidders "could not show any tangible evidence of their ability to raise the necessary capital to open and operate the refinery."

Patriotic Energies and Technologies Co Ltd, a company owned by the Oilfields Workers' Trade Union (OWTU) submitted a bid in 2019 and was initially given the nod to acquire the refinery.

Their bid faced challenges, owing to financing concerns, and negotiations eventually fell through.

In July, Jindal Steel and Power Ltd (JSPL), an Indian multinational company expressed an interest in taking over the refinery but withdrew in early August.

The PM blamed the Opposition for engaging in personal attacks against the owners, chasing JSPL away from the bid.

Imbert said, "In pursuit of the overarching objective to attract private sector investment for the reopening of the refinery, Trinidad Petroleum Company – the company holding assets for the defunct Petrotrin – commenced a third procurement process in 2024, with the solicitation of expressions of interest from new potential bidders, and the parties who participated in the previous two attempts."

He said the former refinery was unprofitable because it was overstaffed, operating with as much as five times the number of workers required for efficiency and "would never have been profitable under its previous configuration.

"However, the government believes that if the refinery can be reopened without any burden on the treasury, this will provide a number of benefits in terms of employment, increased economic activity, availability of locally-produced fuel and reinvigoration of fenceline communities."

He said taxpayers will be protected.

"It must be stressed that in this process, the government has no intention of exposing taxpayers to the recurring billion-dollar losses that occurred previously in the operation of the refinery...The success of this venture is predicated on the principle that it be at no cost to the taxpayer."

https://newsday.co.tt/2024/09/30/imbert ... -takeover/

Total bullśĥîýt

One upon a time, 3 bidders came to petrotrin ....

[wing]

Roget is a billionaire now?

[zoom rader]

Roget is a billionaire now?

No but there are PNM minsters that have secured their family for years on Taxpayers monies

[wing]

Roget is a billionaire now?

No but there are PNM minsters that have secured their family for years on Taxpayers monies

UNC former ministers and present MPs too. Don't forget.

[zoom rader]

Roget is a billionaire now?

No but there are PNM minsters that have secured their family for years on Taxpayers monies

UNC former ministers and present MPs too. Don't forget.

No

I don't see rents for empty buildings paid and comments such as good value for tax payers monies on UNC MPs

UNC past and present MPs built their wealth via their profession and not from Tax payers monies.

[bluefete]

You take so long to say this? Allyuh real dotish, if true. All along you did not want Patriotic to get the refinery so you had to lie.

I am sure you not going outside of Parliament to repeat that.

Have you referred Roget to the fraud squad?

Why you don't talk about how much you making every month as Minister of Mining?

Refinery bombshell
Young claims Patriotic used fake documents for Petrotrin bid

In a shocking revelation in Parliament yesterday, Energy Minister Stuart Young claimed the Oilfields Workers’ Trade Union’s (OWTU) Patriotic Energies Company Limited failed to make the next round of bidding on the mothballed Petrotrin refinery because it lied about its financial standing by submitting a fake document to the evaluation committee tasked with receiving proposals.

https://www.guardian.co.tt/news/refiner ... 0affd89474

[The_Honourable]

Patriotic rejects claims of fake documents

Patriotic Energy Services Co Ltd has “rejected” Energy Minister Stuart Young’s “misleading” claim that the company used faked documents in its refinery bid.

In a five-point response on Saturday morning, Patriotic said the Minister’s statement made in parliament on Friday “was misleading and mischievous, as what he presented under parliamentary cover was not Patriotic’s financial partner that met with the Cabinet-appointed evaluation committee.”

The statement went further in saying the solely selected financier would have been submitted to the Evaluation Committee and Scotiabank International which both accepted as its preferred financier.

In fact, the Evaluation Committee would have interviewed and vetted Patriotic’s preferred financier and Scotiabank International nor the Evaluation Committee raised any concern about the preferred financier. “As a matter of fact, there was some level of comfort and satisfaction with the preferred financial partner. We remain confident that our preferred financier can stand the scrutiny of any due diligence process and invite the same,” the statement added.

Patriotic said it did not receive any communication or indication from either the Evaluation Committee or Scotiabank International as to the unsuitability of its preferred financial partner.

https://www.guardian.co.tt/news/patriot ... 3aaa2accfa

[The_Honourable]

Yesterday during my contribution to the National Budget debate I was very clear in what I said with respect to the bid for the refinery put in by Patriotic Energies & Technology Co Ltd (“Patriotic Energies”).

I stated, with the evidence in my hand, that Patriotic Energies, produced a fake document purporting to be wire transfer to a local bank for UD$1.5 billion.

Due diligence confirmed that no such wire transfer was received by the local bank to the account of Patriotic Energies.

Patriotic Energies has today issued a statement that does not refute the fact that they submitted a fake wire transfer document but instead they introduce the concept of having a “preferred financial partner”.

It is clear and obvious that Patriotic Energies is avoiding responding to the fact of the fake document that they submitted.

They should be asked whether there was a document submitted by them that indicated a purported wire transfer of US$1.5 billion and if so, where is the money, or was the document fake.

Stuart R. Young, SC, MP
Minister of Energy and Minister in the Office of the Prime Minister
October 5, 2024

https://www.facebook.com/share/p/uY3DuYaBdceyj9Y6/

[wing]

Everything in this country has to have some sort of bacchanal. Awaiting the inevitable Freedom Chambers application for judicial review.
I must commend Kamla on the proposal for a separate energy chamber with much greater OSHA oversight and powers. This chamber will focus on the small and medium firms who are effectively blocked by the big boys.

[sMASH]

Unless roget dem sue small pin for defamation , small pin word will remain the standard .

[AlphaMan]

This elections will be interesting. Who exactly will be voting for the PNM.

[zoom rader]

This elections will be interesting. Who exactly will be voting for the PNM.

Idiots

[pugboy]

doh forget frankie seeps will be the man on the bench in charge of hearing

Everything in this country has to have some sort of bacchanal. Awaiting the inevitable Freedom Chambers application for judicial review.
I must commend Kamla on the proposal for a separate energy chamber with much greater OSHA oversight and powers. This chamber will focus on the small and medium firms who are effectively blocked by the big boys.

[The_Honourable]

Patriotic wants refinery bid process scrapped

OILFIELD Workers’ Trade Union (OWTU)-owned Patriotic Services Co Ltd has called for the bidding process for the sale or lease of the former Petrotrin refinery to be scrapped and a new process restarted, free from government interference.

The company made this call in a statement on October 6, as it continued to dismiss statements made by Energy Minister Stuart Young that it continues to evade the question of a fake document it submitted in relation to its unsuccessful bid to acquire the former Petrotrin refinery in Pointe-a-Pierre.

Young made this statement on October 6, maintaining the position he took during his contribution to the budget debate in the House of Representatives on October 4.

He maintained this position despite Patriotic issuing statements on October 5 and 6, which respectively rejected his statements and insisted the evaluation committee never raised any concern about fraudulent documents with it or its preferred financial partner.

In its October 6 statement, Patriotic called "for the immediate scrapping and a complete redoing of the entire bidding process in the interest of fairness, transparency, equality in treatment and independence of governmental interference."

They claimed Young's statement on October 4 suggested there was "ministerial overreach and interference in what was supposed to be an independent selection process."

Patriotic challenged Young to say outside Parliament that Patriotic submitted fraudulent documents to the committee.

In none of its three statements, two issued on October 5 and one on October 6, did Patriotic say whether or not the US$1.5 billion payment Young mentioned was fraudulent or not.

In the House, Young produced what he claimed to be a fake document submitted by Patriotic as part of its second bid to acquire the refinery.

He said the document, which claimed to show Patriotic paid US$1.5 billion to a local bank as proof that it had the financial capability to acquire and run the refinery, seemed fraudulent.

On October 5, Young rejected a statement from Patriotic which claimed his comments in the House were misleading.

Young said he was very clear what he said in Parliament with respect to the bid.

“I stated, with the evidence in my hand, that Patriotic Energies produced a fake document purporting to be a wire transfer to a local bank for US$1.5 billion.

“Due diligence confirmed that no such wire transfer was received by the local bank to the account of Patriotic Energies.”

He said in its statement, Patriotic “does not refute the fact that they submitted a fake wire-transfer document.”

Young said what the company did instead was introduce the concept of a “preferred financial partner.”

“It is clear and obvious that Patriotic Energies is avoiding responding to the fact of the fake document that they submitted.

“They (Patriotic) should be asked whether there was a document submitted by them that indicated a purported wire transfer of US$1.5 billion and if so, where is the money, or was the document fake?”

On October 6, Young rejected a second statement issued by Patriotic on October 5 in which the company said it was committed to transparency and fair processes.

“Patriotic Energies has not answered nor have they addressed the issue of providing a fraudulent document purporting to be a wire transfer of US$1.5 billion. Consider the implications of such a fraudulent document in support of financial wherewithal and ask yourself what are the consequences of such an action and fake document. What would you do?”

In its first statement on October 5, Patriotic claimed the document Young referred to did not come from its financial partner.

“The solely selected financier would have been submitted to the (Cabinet-appointed) evaluation committee and Scotiabank International, which both accepted as our preferred financier.”

Patriotic said it remained confident that its “preferred financier can stand the scrutiny of any due diligence process and invite the same.”

The company added it had received no communication from either the committee or Scotiabank “as to the unsuitability of our preferred financial partner.”

Patriotic remains confident it has met all the requirements outlined for potential bidders and presented the best proposal for the sale or lease of the refinery.

In its second statement on October 5, Patriotic said if Young’s claims were the basis for its bid being rejected, “We therefore respectfully call for a reassessment of everything that was presented by our financial partner to the Cabinet-appointed committee on the 21 August, 2024 as we are assured that we already adhered to all the procedures and processes required.”

Patriotic said it welcomed open communication with all stakeholders, including Young, to address any concerns or questions and to facilitate a fact-based discussion.

On May 10, the company continued, it submitted a non-binding proposal identifying three potential financiers.

At a meeting on June 7, Patriotic said it and Scotiabank were still doing their due diligence and verification to substantiate the funding capabilities of the three potential financiers.

After its due diligence, the company continued, it could not substantiate the proof of funding from any of the three financiers.

These parties were eliminated and Patriotic submitted a new financier to Scotiabank International on August 3 for consideration by the evaluation committee.

“On August 21, 2024, our preferred financial partner, along with representatives of Patriotic, met with the Cabinet-appointed evaluation committee and presented their comprehensive details of the financing plan. All documentation provided was thoroughly reviewed, and no concerns were raised regarding their validity at the meeting.
“ At no time was any of the eliminated three potential financiers submitted to the evaluation committee or brought back into the process as they did not meet Patriotic’s requirement. Therefore, whatever document the minister was brandishing is totally irrelevant.”

In his budget presentation on September 30, Finance Minister Colm Imbert said proposals from a locally-based consortium, an American-based company and a Nigerian-based company for sale or lease of the refinery will be considered by the committee and Scotiabank.

The refinery was closed in November 2018, when Petrotrin was restructured into Trinidad Holdings Petroleum Ltd.

Those proposals came from locally-based Cro consortium, US-based Inca Energy LLC and Nigeria-based Oando PLC.

Imbert said, “A formal selective request for proposals process will now be initiated to determine the winner amongst these three companies, with a view to restarting the refinery, if found feasible.

“It must be stressed that in this process, the government has no intention of exposing taxpayers to the recurring billion-dollar losses that occurred previously in the operation of the refinery, and the success of this venture is predicated on the principle that it be at no cost to the taxpayer."

The committee and Scotia used five criteria to evaluate the proposals offered by potential bidders for the refinery.

These included a track record of refinery ownership and/or operation, a reasonable restart plan and timeline for the refinery and an arrangement with Paria Fuel Trading Company that did not prejudice the national interest of fuel security as well as the handling of Heritage Petroleum’s crude oil supply.

Paria and Heritage are two subsidiary companies under Trinidad Petroleum Holdings Ltd, which was formed in November 2018, when Petrotrin was restructured.

Since 2018, Imbert said there have been two attempts to sell or lease the refinery.

“Both efforts failed because the preferred bidders were unable to show any tangible evidence of their ability to raise the necessary capital to reopen and operate the refinery.”

On October 4, Young said when invitations were first issued in 2018-2019 for the sale or lease of the refinery, Patriotic Energy was the preferred bidder.

He added the evaluation committee told him Patriotic did not meet the requirements to show it had the financial capability to manage and run the refinery in its first bid.

The committee, Young continued, gave Patriotic another opportunity to show it did have this capability.

He said it was in its second bid that the questionable document surfaced alleging that Patriotic paid US$1.5 billion to a commercial bank as proof of its financial capability to manage and run the refinery.

https://newsday.co.tt/2024/10/07/update ... -scrapped/

[zoom rader]

^^^ they full of

[K74T]

[sMASH]

Unless roget dem sue small pin for defamation , small pin word will remain the standard .

This matter should go to court and the erroneous party face some kinda fraud charges .

[sMASH]

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

[sMASH]

https://www.facebook.com/share/v/19YJAtLG4x/




I want redman come back and tell me who right.. Stuart young or imburt ...