Petrotrin refinery shut down

[rspann]

They saying Roshit not on the board . So how come he was always in front during the negoseeaytions and was speaking as though the deal was his?

[De Dragon]

They saying Roshit not on the board . So how come he was always in front during the negoseeaytions and was speaking as though the deal was his?

Guy Smiley, like all the other PNM retards like Arse-Wari, Goebbels Young, Fake Rasta and Roundabout Rohan, only jumping to JUHN Scarfy defense to lick arse.

[The_Honourable]

Patriotic explains 'delay' in refinery talks



Patriotic Energies and Technologies Company Limited is again seeking to set the record straight on reported delays in its acquisition of the Pointe-a-Pierre refinery.

Prime Minister Dr Keith Rowley in Parliament last Wednesday indicated that Patriotic had requested an extension on its bid for the refinery adding that Patriotic wanted to see the refinery and would do so this week with technical experts.

Then, Energy Minister Franklin Khan said Patriotic requested additional information, delaying talks.

In a statement on Sunday, Patriotic acknowledged that it was not uncommon for parties involved in a complex acquisition to have divergent perspectives in early negotiation.

Patriotic offered a chronology of each step in the acquisition process from June 2019 to present.

1. In June 2019, Patriotic submitted over 200 questions to the agents acting on behalf of the Government of the Republic of Trinidad and Tobago during the RFP process.

2. In August 2019, the Government’s agents communicated to Patriotic that many of its inquiries would be addressed during the confirmatory due diligence process, which will begin next week.

3. On October 4, 2019 and again on November 4, 2019 in meetings with the Cabinet-appointed Evaluation Committee, Patriotic recommended that the following Working Groups be constituted to aid in the efficient advancement and completion of the acquisition process: i. Commercial - this group would treat with all issues of finance, and the corporate readiness of both parties for pre, during and post-acquisition integration; ii. Legal - this group would attend to all issues relating to the finalisation and execution of the Stock Purchase Agreement in addition to all title and contract related work to be done. iii. Technical - this group would collaborate on all engineering, logistics and environmental matters, etc.

4. In November 2019, Patriotic demonstrated its readiness by the timely, thorough and successful response to the ten areas of concern of the Government of the Republic of Trinidad and Tobago. Patriotic has been ready to enter into the confirmatory due diligence exercise for at least eight months, since its original submission of inquiries in June 2019.

5. On January 15, 2020, Patriotic met with the Cabinet Sub-Committee of the Government of Trinidad and Tobago comprising of: Stuart Young, Minister in the Office of the Prime Minister and Minister of National Security, Franklin Khan, Minister of Energy and Energy Industries, Robert Le Hunte, Minister of Public Utilities and the Mr Vishnu Dhanpaul lead Cabinet appointed Evaluation Committee.

At that meeting, Patriotic discovered that the Sub-Committees were unaware of its communication with their agents made since June 2019 and again in August 2019 nor were arrangements made for the aforementioned Working Groups to be constituted by the Evaluation Committee.

6. On January 15, 2020, The Ministry of Energy and Energy Affairs on that day issued a press release expressing their satisfaction with the meeting held and their optimism moving forward.

7. On January 17, 2020, Patriotic forwarded the June 2019 inquiries along with the recommendations of October 2019 and November 2019 to the abovementioned Cabinet Sub-Committee.

8. On February 12, 2020, Patriotic was advised by the Boards of Paria Fuel Trading Company Limited (‘Paria’) and Guaracara Refining Company Limited (‘Guaracara’) of the constitution of the recommended Working Groups recommended by Patriotic in October and November 2019.

9. On February 13, 2020, the Boards of Patriotic, Paria and Guaracara agreed to initiate a meeting with the Working Groups starting the week of February 17, 2020, and to collaborate on the creation of a detailed timeline for all residual requirements for the completion of the acquisition process.

Patriotic added that it remains focused on its mission to provide positive stimulus to the economy of Trinidad and Tobago via the creation of up to 4000 jobs during the refurbishment and restart exercise of the refinery and terminal.

“This will inject hundreds of millions of dollars in foreign exchange into our country and billions more when fully operational. As a net foreign exchange earner, Patriotic will have a positive impact on the nation’s balance of payments accounts contributing to the ease of doing business in Trinidad and Tobago,” the company said.

Source: http://www.looptt.com/content/patriotic ... nery-talks

[gastly369]

[The_Honourable]

Economist: T&T could have taken advantage of oil prices with an efficient refinery

An efficient, well managed refinery would have been useful to T&T during the current global downturn in oil prices, according to an economist.

Earlier today, the price of Brent crude, which this country uses for the most part, dropped under $20 to its lowest price since 2002.

Dr Vaalmikki Arjoon, speaking with 103.1FM News says the reduced cost is a development T&T could have taken advantage of with a refinery.

"We would have been able to purchase oil for almost next to nothing on the global markets and we would have been able to store it for refining when prices go up. Now this would have allowed us to hedge against the price risk, price risk meaning when prices go very very low because refined oil would obviously fetch a higher price and even without a refinery, if we had a well managed tank farm beyond the capacity of Heritage then we could have stockpiled some of this oil for resale when prices improved. These are opportunities that we would have lost out on because of past failures in managing the energy sector and its associated revenues."

The refinery in Pointe-a-Pierre was shut down on November 30th 2018 with Government citing massive losses.

A company owned by the OWTU has since won the bid to run its operations but the facility remains closed.

https://www.103fm.tt/news/economist-tt- ... -refinery/

[Redman]

Sadly in the real world over the last few years LATAM has been flooded with refined product out of the US.

Refining margins have been compressed as a result.

Valmiki should do a thorough analysis, because in order to theoretically benefit from this situation
we would have need to survive then till now.


Whats refined oil?

[The_Honourable]

Will the refinery be restarted?

Saw Roget on TV tonight complaining. Eight months have gone since the Government announced Patriotic Energies aka OWTU had been selected to run the Refinery. To date we have no idea when or if the refinery will restart under the Patriotic arrangement. Given that eight months have elapsed since the announcement it is necessary for the country to be given a time table for the restart. If Patriotic Energies cannot restart the refinery we need to know and we need to move on. It has been 18 months since the refinery has been down. Every day it stays down, it becomes more expensive to restart.

Kevin Ramnarine.

https://www.facebook.com/kevinramnarinr ... 7796711830

[Numb3r4]

Maybe just maybe after all this the refinery may end up in the hands of A&V, as management, with generous terms of course, the OWTU will provide labour, cheap labour that is we are under private management after all, we need to tighten our belts you know, and they will be buying and refining Venezuelan oil and subsequently selling it.

Watching some old Family Guy and the though came to mind.

[zoom rader]

Maybe just maybe after all this the refinery may end up in the hands of A&V, as management, with generous terms of course, the OWTU will provide labour, cheap labour that is we are under private management after all, we need to tighten our belts you know, and they will be buying and refining Venezuelan oil and subsequently selling it.

Watching some old Family Guy and the though came to mind.

Nope 1% will get it

[De Dragon]

Will the refinery be restarted?

Saw Roget on TV tonight complaining. Eight months have gone since the Government announced Patriotic Energies aka OWTU had been selected to run the Refinery. To date we have no idea when or if the refinery will restart under the Patriotic arrangement. Given that eight months have elapsed since the announcement it is necessary for the country to be given a time table for the restart. If Patriotic Energies cannot restart the refinery we need to know and we need to move on. It has been 18 months since the refinery has been down. Every day it stays down, it becomes more expensive to restart.

Kevin Ramnarine.

https://www.facebook.com/kevinramnarinr ... 7796711830

Roget's kant only seems to come unsewn when it is time to blame Kamla. Imagine this colossal waste of space put away his balls when the PNM, through hatchet man Espinet, was riding roughshod all over PT, eventually shuttering the refinery, which still cannot re-open more than a year and a half later.
Lo and behold Kamla mentions reopening the refinery, and JUHN Scarfy lend him back said balls to talk sheit, and show people empty files. Of course, like a smart pet owner with an obedient dog, essential services was bestowed upon the unions at the first opportunity by JUHN Scarfy, right after Roget's bluster, and empty talk.

[The_Honourable]

Patriotic deal for refinery purchase almost complete:

Roget promises 4,500 jobs



Promising 4,500 new jobs soon, president general of the Oilfields Workers’ Trade Union Ancel Roget says Patriotic Energies and Technologies Company Limited is close to finalising its deal with the Government for the purchase of the Pointe-a-Pierre refinery.

Delivering his Labour Day speech at the historic Charlie King Junction in Fyzabad yesterday, Roget said when the union takes over the refinery there will be a thrust to increase profitability.

“With the highest degree of operational reliability and efficiency, Patriotic is going to guarantee a reliable supply of fuel for the local consumption and for foreign exports, Patriotic will bring back regular gasoline for the fishermen. Patriotic will contribute to arts, culture, the sports and to youth development,” Roget said.

He also praised the Government for respecting the sovereignty of Venezuela in the face of oppression from the United States.

“I am no friend or supporter of this Government, but right is right and principle is principle, and therefore we insist that the Government’s foreign policy on the sovereign Republic of Venezuela is correct and therefore we totally support it,” Roget said.

He added, “It cannot be that we support a foreign power to remove a democratically elected government and illegally install an opposition in its place. We denounce and condemn regime change by coup or by any surreptitious means or effort to remove a democratically elected government in any part of the world.”

Roget also said he was concerned about the loss of jobs, high crime, the failure of the Government to implement labour legislation, the mismanagement of the economy and corruption.

“The Government ignored Labour’s Economic Alternative Plan and even their own Economic Advisory Board. The Minister of Finance raised the price of fuel, not once, not twice but three times,” Roget said.

He also called on the Finance Minister Colm Imbert to begin discussions with various trade unions to settle outstanding negotiations.

More: http://www.guardian.co.tt/news/patrioti ... aa7ecbe77f

[Gladiator]

One has to wonder if Roget intentionally make sure Petrotrin crash and he support the Govt shutting it down just so that he can benefit from future ownership...

[Lou Screuz]

Patriotic will contribute to arts, culture, the sports and to youth development,” Roget said.

He also praised the Government for respecting the sovereignty of Venezuela in the face of oppression from the United States.

they fail before they start

[gastly369]

Oh these mfkrs never fails to amaze me

[zoom rader]

Labour day is national disgrace.

All these trades unions have sold out and are nothing more than members of the PNM

All tun tuns fillied with dumb arse PNM ppl

[antlind]

If this ‘deal’ ever materializes and that refinery happens to restart I wouldn’t want to be living anywhere close.

[Country_Bookie]

Seems like the message from Roget to trade union members is vote PNM or risk the deal being scrapped if the opposition gets into power. Deal will be "close to completion right up until elections".

[zoom rader]

Seems like the message from Roget to trade union members is vote PNM or risk the deal being scrapped if the opposition gets into power. Deal will be "close to completion right up until elections".

Yup

PNM trade unions

[alfa]

Seems like the message from Roget to trade union members is vote PNM or risk the deal being scrapped if the opposition gets into power. Deal will be "close to completion right up until elections".

That could have been the plan all along. Remember the union signed a non disclosure agreement. Who's to say they didn't strike a deal for him to get the refinery and in exchange keep the masses quiet and free from industrial action. But if course he had to through a lil jab at Rowley every now and then to make it look real

[m@x]

Patriotic deal for refinery purchase almost complete:

Roget promises 4,500 jobs



Promising 4,500 new jobs soon, president general of the Oilfields Workers’ Trade Union Ancel Roget says Patriotic Energies and Technologies Company Limited is close to finalising its deal with the Government for the purchase of the Pointe-a-Pierre refinery.

Delivering his Labour Day speech at the historic Charlie King Junction in Fyzabad yesterday, Roget said when the union takes over the refinery there will be a thrust to increase profitability.

“With the highest degree of operational reliability and efficiency, Patriotic is going to guarantee a reliable supply of fuel for the local consumption and for foreign exports, Patriotic will bring back regular gasoline for the fishermen. Patriotic will contribute to arts, culture, the sports and to youth development,” Roget said.

He also praised the Government for respecting the sovereignty of Venezuela in the face of oppression from the United States.

“I am no friend or supporter of this Government, but right is right and principle is principle, and therefore we insist that the Government’s foreign policy on the sovereign Republic of Venezuela is correct and therefore we totally support it,” Roget said.

He added, “It cannot be that we support a foreign power to remove a democratically elected government and illegally install an opposition in its place. We denounce and condemn regime change by coup or by any surreptitious means or effort to remove a democratically elected government in any part of the world.”

Roget also said he was concerned about the loss of jobs, high crime, the failure of the Government to implement labour legislation, the mismanagement of the economy and corruption.

“The Government ignored Labour’s Economic Alternative Plan and even their own Economic Advisory Board. The Minister of Finance raised the price of fuel, not once, not twice but three times,” Roget said.

He also called on the Finance Minister Colm Imbert to begin discussions with various trade unions to settle outstanding negotiations.

More: http://www.guardian.co.tt/news/patrioti ... aa7ecbe77f

Hopes and dreams......mamaguyin citizens / ex-petrotrin workers

[tr1ad]

I thought the report said no need to have a workforce of that magnitude to operate the refinery?

What kinda pipedream selling here?

[alfa]

I thought the report said no need to have a workforce of that magnitude to operate the refinery?

What kinda pipedream selling here?

The whole of petrotrin including refinery and exploration as well as offshore and associated midstream operations was 5000. He go hire 4500 for refinery

[Redman]

Different when you running the refinery.

[rebound]

Doh blame the seller.......laugh at the buyers.....there are many of them out there, believe it or not.

[wing]

Election gimmick?

[alfa]

Election gimmick?IMG-0a680042301ad5c61e0d9f7184a728c9-V.jpeg

Correct is right. What the public sees is that the govt didn't forget workers and is giving them land. The workers who are the only people to read the fine print will see that if you have a house or land in your name your are not eligible. Which is most former workers

[De Dragon]

Election gimmick?IMG-0a680042301ad5c61e0d9f7184a728c9-V.jpeg

Correct is right. What the public sees is that the govt didn't forget workers and is giving them land. The workers who are the only people to read the fine print will see that if you have a house or land in your name your are not eligible. Which is most former workers

But, the ultimate aim, which is to hoodwink dim witted PNM diehards like Tokesy, one eye etc, will be achieved without fail.

[The_Honourable]

oh lardo

The Pointe a Pierre refinery will be state operated once again, if the UNC is elected into office.

This comes from the party's Pointe a Pierre MP who says they will not allow the government to complete any deal with Patriotic Energies this close to the election.

Source: https://www.tv6tnt.com/news/7pmnews/unc ... 47b0f.html

[The_Honourable]

He says UNC Candidate David Lee has been spreading false rumours.

[wing]

https://newsday.co.tt/2020/07/15/pm-wan ... -election/