Petrotrin update

[Numb3r4]

When Petrotrin becomes profitable just before the next election you all will see why this sacrifice was needed?

The PNM cares.....

[zoom rader]

When Petrotrin becomes profitable just before the next election you all will see why this sacrifice was needed?

The PNM cares.....

PNM will say they turn around Petrotrin
And the economy.

Then you have the HNs that will tell PNM ppl that kamala theef billions and billions.

[randolphinshan]

When Petrotrin becomes profitable just before the next election you all will see why this sacrifice was needed?

The PNM cares.....

PNM will say they turn around Petrotrin
And the economy.

Then you have the HNs that will tell PNM ppl that kamala theef billions and billions.

She DID thief billions and billions

[matix]

^^^^^
On a serious note, aren’t you tired of saying the same thing over and over. It’s the party that you support in charge for the past 4 years. Look at the state of the country, you truly are a brainwashed idiot

[zoom rader]

When Petrotrin becomes profitable just before the next election you all will see why this sacrifice was needed?

The PNM cares.....

PNM will say they turn around Petrotrin
And the economy.

Then you have the HNs that will tell PNM ppl that kamala theef billions and billions.

She DID thief billions and billions

Perfect example,

Yet still the PNM HNs on tuner stay silent.

[Pointman-IA]

So which entity you all think would acquire the assets in the refinery?

I wonder if it could be Shell.

[gastly369]

So which entity you all think would acquire the assets in the refinery?

I wonder if it could be Shell.

martillo en la una

[kstt]

So which entity you all think would acquire the assets in the refinery?

I wonder if it could be Shell.

yuh think?

Google how many trips were made to meet Shell.



We watch news but don't pay attention.

[Numb3r4]

Well if the conspiracy theories of old are to be believed, then this is NOT the first time we've sabotaged ourselves for foreign interests.....**cough cough** East Coast **cough cough** drill ahead...drill ahead....**cough cough**.

Remember Shell does have sizable acreage off the east coast of Trinidad though not oil but gas.

However I will say this, when the refinery (Pointe-A-Pierre) was built by Texaco it was done to service the needs of Texaco fields in Venezuela in addition to our fields. When Texaco left we were advised to not keep it and build a smaller refinery in Point Fortin to service out needs, we kept it.

That refinery can still process a quantity of crude that exceeds our production, also it can as it was built to refine heavier more sulfurous crudes common to both Trinidad and Venezuela.

Shell and Chevron, have interests in Venezuelan oil reserves, I do believe they had operations up to 2017 (Shell), who knows if they are eyeing the refinery so as to capitalize on oil exported from Venezuela to be refined nearby in Trinidad.
This would allows them to have assets close but have them not be too affected by Venezuelan interference.

[tr1ad]

the short jabs should stop by now honestly...

honestly

[zoom rader]

If men had listen to me back in 2015 they would have known Petrotrin was in the making to be sold.

[Pointman-IA]

Lol.
Oh great one, what sayeth thy prophet?

If men had listen to me back in 2015 they would have known Petrotrin was in the making to be sold.

[zoom rader]

Lol.
Oh great one, what sayeth thy prophet?

If men had listen to me back in 2015 they would have known Petrotrin was in the making to be sold.

It was pure manipulation, painting was on the wall

[Pointman-IA]

Lol.
Oh great one, what sayeth thy prophet?

If men had listen to me back in 2015 they would have known Petrotrin was in the making to be sold.

It was pure manipulation, painting was on the wall

I think it goes back to 2010.
Some of the deciding factors were the plants under construction in the refinery, aging assets in the producing fields that impacted on crude oil production output.

[TurboSingh12]

I saw Kenson took on workers back on Trinmar. They working four days on four days off with 12 hr shifts.Wonder whats the pay like?

[wing]

It's 50% of the former salary.

[wing]

https://www.tv6tnt.com/news/7pmnews/gov ... eca85.html

[Redman]

Well if the conspiracy theories of old are to be believed, then this is NOT the first time we've sabotaged ourselves for foreign interests.....**cough cough** East Coast **cough cough** drill ahead...drill ahead....**cough cough**.

Remember Shell does have sizable acreage off the east coast of Trinidad though not oil but gas.

However I will say this, when the refinery (Pointe-A-Pierre) was built by Texaco it was done to service the needs of Texaco fields in Venezuela in addition to our fields. When Texaco left we were advised to not keep it and build a smaller refinery in Point Fortin to service out needs, we kept it.

That refinery can still process a quantity of crude that exceeds our production, also it can as it was built to refine heavier more sulfurous crudes common to both Trinidad and Venezuela.

Shell and Chevron, have interests in Venezuelan oil reserves, I do believe they had operations up to 2017 (Shell), who knows if they are eyeing the refinery so as to capitalize on oil exported from Venezuela to be refined nearby in Trinidad.
This would allows them to have assets close but have them not be too affected by Venezuelan interference.

Properly run the refinery is an attractive asset to own and operate.
As its unfolding-Guyana and Vene crude should be sources of feed stock and to some extent Guyana should be interested in refine products coming back in.

Local demand is about60% on average of the output of that refinery......having that market literally on your doorstep is also a big leg up.

[zoom rader]

Well if the conspiracy theories of old are to be believed, then this is NOT the first time we've sabotaged ourselves for foreign interests.....**cough cough** East Coast **cough cough** drill ahead...drill ahead....**cough cough**.

Remember Shell does have sizable acreage off the east coast of Trinidad though not oil but gas.

However I will say this, when the refinery (Pointe-A-Pierre) was built by Texaco it was done to service the needs of Texaco fields in Venezuela in addition to our fields. When Texaco left we were advised to not keep it and build a smaller refinery in Point Fortin to service out needs, we kept it.

That refinery can still process a quantity of crude that exceeds our production, also it can as it was built to refine heavier more sulfurous crudes common to both Trinidad and Venezuela.

Shell and Chevron, have interests in Venezuelan oil reserves, I do believe they had operations up to 2017 (Shell), who knows if they are eyeing the refinery so as to capitalize on oil exported from Venezuela to be refined nearby in Trinidad.
This would allows them to have assets close but have them not be too affected by Venezuelan interference.

Properly run the refinery is an attractive asset to own and operate.
As its unfolding-Guyana and Vene crude should be sources of feed stock and to some extent Guyana should be interested in refine products coming back in.

Local demand is about60% on average of the output of that refinery......having that market literally on your doorstep is also a big leg up.

Perfect, run down Petrotrin and over staff it , Stave it for oil then say it's not making money.

After all of this then sell it, some one collected ah money

It the same strategy that they used with trinidad rail

[kstt]

http://www.guardian.co.tt/news/one-dead ... d059380c86

[hydroep]

Activist takes action against Petrotrin
Camille Moreno

OPPOSITION activist Ravi Balgobin Maharaj is taking additional legal action to obtain two witness statements from Petrotrin.

In a statement, Maharaj said he advised his attorney Anand Ramlogan SC to file a claim for judicial review against Petrotrin after the Privy Council ruling granting him leave to do so. Maharaj said this has become necessary because the 14 day period to file the claim would have expired on Tuesday.

He said the reason for the delay was based on a promise by the Prime Minister that the witness statements of Charmaine Baptiste and Anthony Chan Tack would be released without any further litigation. At a post-Cabinet news conference at the Diplomatic Centre on May 23, Dr Rowley said he instructed Energy Minister Franklin Khan to direct Petrotrin to make the two statements "available and public."

Rowley added, "The public will read them and determine whether (former Petrotrin executive chairman) Malcolm Jones can rest in peace."

He also said the Privy Council "did not make any finding of fact on this matter" as to whether or not there was any alleged political interference in the discontinuation of legal action against Jones. Rowley added, "All the Privy Council did was say the man is asking for a review, give him a review."

Maharaj said Rowley and Attorney General Faris Al-Rawi have both said there is nothing incriminating or conspiratorial in the witness statements. He questioned why the statements have not been released. Maharaj also claimed the law firm representing Petrotrin, JD Sellier and Company, refused to accept service of the claim. He alleged the firm said it had no instructions on the matter.

As such, Maharaj said he now has to serve the claim directly on Petrotrin.

https://newsday.co.tt/2019/06/05/activist-takes-action-against-petrotrin/

[De Dragon]

Activist takes action against Petrotrin
Camille Moreno

OPPOSITION activist Ravi Balgobin Maharaj is taking additional legal action to obtain two witness statements from Petrotrin.

In a statement, Maharaj said he advised his attorney Anand Ramlogan SC to file a claim for judicial review against Petrotrin after the Privy Council ruling granting him leave to do so. Maharaj said this has become necessary because the 14 day period to file the claim would have expired on Tuesday.

He said the reason for the delay was based on a promise by the Prime Minister that the witness statements of Charmaine Baptiste and Anthony Chan Tack would be released without any further litigation. At a post-Cabinet news conference at the Diplomatic Centre on May 23, Dr Rowley said he instructed Energy Minister Franklin Khan to direct Petrotrin to make the two statements "available and public."

Rowley added, "The public will read them and determine whether (former Petrotrin executive chairman) Malcolm Jones can rest in peace."

He also said the Privy Council "did not make any finding of fact on this matter" as to whether or not there was any alleged political interference in the discontinuation of legal action against Jones. Rowley added, "All the Privy Council did was say the man is asking for a review, give him a review."

Maharaj said Rowley and Attorney General Faris Al-Rawi have both said there is nothing incriminating or conspiratorial in the witness statements. He questioned why the statements have not been released. Maharaj also claimed the law firm representing Petrotrin, JD Sellier and Company, refused to accept service of the claim. He alleged the firm said it had no instructions on the matter.

As such, Maharaj said he now has to serve the claim directly on Petrotrin.

https://newsday.co.tt/2019/06/05/activist-takes-action-against-petrotrin/

So the big, bad "meet me on the pavement" "sh*tkickers", "too black for PM" issued an order and no one took him on? Invoking Malcolm Jones eternal rest to not be disturbed, also doesn't lessen the absolute and utter fackery that took place under his watch. It is also a bald-faced lie to say that the PC did not find bias against Arse-Wari and the PNM Government. Of course there was no " finding as fact", that wasn't the matter before them! It is made abundantly clear in their summary of the award to Balgobin though.
The alternative, is that JUHN Scarfy really feels/felt, that a man would take all that time and effort to take a case all the way to the PC, and then be outmanoeuvred by a delay in filing, so the case will be dismissed on procedural grounds? Balgobin is probably well acquainted with JUHN Scarfy's past including EMail Gate, Two Plate, Bamsee Squeezer, where he promised much, but NEVER delivered on the truth.

[The_Honourable]

^^^ good point.

Dr Rowley said he instructed Energy Minister Franklin Khan to direct Petrotrin to make the two statements "available and public."

We waiting Growlers...

[De Dragon]

^^^ good point.

Dr Rowley said he instructed Energy Minister Franklin Khan to direct Petrotrin to make the two statements "available and public."

We waiting Growlers...

Don't hold your breath, the liars in the PNM seem to include every one of them.

[Ben_spanna]

people got a billion dollaz split between them, the man who had the fake oil laughing he arse off, he fren who large and in charge dont care.... allyuh petro- trins ex employees tuh catch..... dem aint care.

[zoom rader]

people got a billion dollaz split between them, the man who had the fake oil laughing he arse off, he fren who large and in charge dont care.... allyuh petro- trins ex employees tuh catch..... dem aint care.

Kamala and she cabal theef out de money, massa ppl know it tobe true

[Ben_spanna]

people got a billion dollaz split between them, the man who had the fake oil laughing he arse off, he fren who large and in charge dont care.... allyuh petro- trins ex employees tuh catch..... dem aint care.

Kamala and she cabal theef out de money, massa ppl know it tobe true

and all of YOU still argue and defend each of your partys!

Has the country improved? has your current living conditions gotten any better? do you see your tax payers dollars improving your quality of life?


Wake up all of you fools and get both of them out of power for good!

[gastly369]

Let that soak een

[hydroep]

Bondholders support amended offer
Newsday

TRINIDAD Petroleum Holdings Ltd’s (TPHL) decision to amend the terms of its exchange offer for its bonds due this year and 2022, has been welcomed by bondholders. The bondholders established a committee which comprises a large group of international investment firms who are holders of the existing bonds and additional significant holders (the supporting holders).

Together, these people hold an outstanding aggregate principal amount of US$273.9 million of the existing bonds. In a statement, the committee said it has entered into an exchange support agreement with TPHL to participate in the amended exchange offer.

This amount does not include the US$152.6 million of existing bonds which have already been tendered as per TPHL’s announcement last month. Together with the holdings of supporting holders, this amounts to a total of $426.5 million. In deciding to support the amended offer, the supporting holders considered favourable changes to commercial terms, information made public by TPHL related to its conditional term loan commitments and results of extensive discussions with the company related to the legal review of matters such as transaction structure and inter-creditor matters.

The committee said the supporting holders welcomed the collaborative efforts made by TPHL, its legal and financial advisors. Supporting holders also welcomed TPHL’s intention to communicate with market participants in a frequent and transparent manner going forward. The committee urged all bondholders to carefully consider all the terms of the amended offer, when making their own independent appraisal of the risks and merits in participating in the offer. In May, TPHL announced that it has received loan commitments of up to U.S.$720 million in term loans from a syndicate of banks led by Credit Suisse AG, Cayman Islands Branch as global coordinator. Finance Minister Colm Imbert has congratulated TPHL for securing conditional commitments to refinance Petrotrin’s US$850 million bond issue. In a tweet, Imbert said the repayment of the bond issue is due in August. “This Petrotrin debt was not guaranteed by the Government.” Imbert also said the refinancing “is also not guaranteed by Government.” Responding to questions in the Senate on Tuesday, Imbert indicated that some aspects of this agreement could be made public.

https://newsday.co.tt/2019/06/07/bondholders-support-amended-offer/

[kstt]

https://www.trinidadexpress.com/opinion/columnists/tphl-loan-nothing-to-celebrate/article_e08dc89a-872a-11e9-922b-4b3a8b050dec.html