Petrotrin refinery shut down

[death365]

hear what i think happening ,

Pnm tell he that id he should shut he big mouth before elections they go give him the refinery- now it seems they cant live up to it and he sour like a lime.

not only shut it but actively say nada against them, but then is u too stupid to listen to politicians

[rebound]

Roget probably watching his phone constantly hoping they call before Monday....thats psycological torture d man going tru......

Man does want to kill deyself if ah gyul offer them ah play and then change their mind.......you could imagine how Roget feeling after being promised ah whole refinery?????

[Redman]

Well if PNM signs- the union will not worry about if UNC win.

this way the PNM and the UNION have a common goal.

[zoom rader]

Well if PNM signs- the union will not worry about if UNC win.

this way the PNM and the UNION have a common goal.

All unions and PNM have a common goal.

PNM = Unions

[death365]

Well if PNM signs- the union will not worry about if UNC win.

this way the PNM and the UNION have a common goal.

All unions and PNM have a common goal.

PNM = Unions

na duke is ah equal opportunity offender but he 90 % politics now-

so i discounting he and saying yeah now CARRY ON !

[zoom rader]

Well if PNM signs- the union will not worry about if UNC win.

this way the PNM and the UNION have a common goal.

All unions and PNM have a common goal.

PNM = Unions

na duke is ah equal opportunity offender but he 90 % politics now-

so i discounting he and saying yeah now CARRY ON !

PSA tried hard to get rid of Duke

Wakanda forever

[Redman]

*sigh* Not with a 3 year test run option . 3 years with no SPT, means there are BILLIONS to thieve.

Expand on that please.

AGAIN, with no skin in the game, where is the accountability and sound , hardnosed business management going to come from?

Same place it came from in the past....elsewhere.
In order to get a financier to commit, owtu would have had to convince them and their advisors that Patriotic had the ability to run the biz.
To the extent that the financing is real....I not worried about that yet, they would have to source Human capital, suitably qualified.

The OWTU lucked out, pure and simple. They get to keep an unsustainable workforce quiet for years, reap BILLIONS, with ZERO risk. Don't even bother with funding, because any unethical financier/backer is also going to love a deal of this type.

These deal don’t happen without the borrower being able to come up with some % ....
But yes they lucked out big time.

We s

till don't know the source mind you, so any potential money launderer, narco-terrorist, or Russian prop up entity could be in the mix.

What like HSBC....point taken....but that applies to every single deal of this nature

[The_Honourable]

OWTU press conference on the Acquisition

[rebound]

What was said in the press conference? I am not on FB.

[Gladiator]

What was said in the press conference? I am not on FB.

They basically gone against the PNM now saying that their promises was an election gimmick, Rowley is a failure...etc etc

[sMASH]

pandemic leave is just a ploy to buy public sector votes.
the leave makes sense to have. but to suggest it, then dump it, then bring it back is blatant election goodie bag

[zoom rader]

What was said in the press conference? I am not on FB.

They basically gone against the PNM now saying that their promises was an election gimmick, Rowley is a failure...etc etc

Used abused and dumped.

[De Dragon]

*sigh* Not with a 3 year test run option . 3 years with no SPT, means there are BILLIONS to thieve.

Expand on that please.

AGAIN, with no skin in the game, where is the accountability and sound , hardnosed business management going to come from?

Same place it came from in the past....elsewhere.
In order to get a financier to commit, owtu would have had to convince them and their advisors that Patriotic had the ability to run the biz.
To the extent that the financing is real....I not worried about that yet, they would have to source Human capital, suitably qualified.

The OWTU lucked out, pure and simple. They get to keep an unsustainable workforce quiet for years, reap BILLIONS, with ZERO risk. Don't even bother with funding, because any unethical financier/backer is also going to love a deal of this type.

These deal don’t happen without the borrower being able to come up with some % ....
But yes they lucked out big time.

We s

till don't know the source mind you, so any potential money launderer, narco-terrorist, or Russian prop up entity could be in the mix.

What like HSBC....point taken....but that applies to every single deal of this nature

Can't see what you're still not sure about
The 3 year test run with NO MONEY upfront, plus the option to walk away at the end of the period WILL expose the OWTU, but it will be to only the detriment of the taxpayer, and the refinery itself.
Would you let someone drive a car that you're selling with no money down, pull bull/do sales/run Venes whatever, essentially make money off of your vehicle for THEMSELVES, then hand you it back after 3 years and say "thanks, but no thanks?"

[Redman]

*sigh* Not with a 3 year test run option . 3 years with no SPT, means there are BILLIONS to thieve. AGAIN,
Can't see what you're still not sure about

Well what was confusing is that I do not believe SPT is charged to refining operations-but to those that are in the business of PRODUCING oil..and is based on the oil prices.
Its calculated on the sale of a bbl.
So I asked you to clarify what you were referring to since Patriotic is a refiner and therefore SPT would not apply.


They not paying for the refinery.
But they supposed to be fixing it up and getting it refining.

So we would have a 3rd party upgrading and running the refinery....

Taxes, business, employment supposedly should be flowing from the getgo- with the culmination of full operations.

So if everything is as it is supposed to be..then GORTT should have it hand.

If it gets up and running and they buss-the refinery was upgraded- and we go next.

[De Dragon]

*sigh* Not with a 3 year test run option . 3 years with no SPT, means there are BILLIONS to thieve. AGAIN,
Can't see what you're still not sure about

Well what was confusing is that [b]I do not believe SPT is charged to refining operations-but to those that are in the business of PRODUCING oil..and is based on the oil prices.
Its calculated on the sale of a bbl.
So I asked you to clarify what you were referring to since Patriotic is a refiner and therefore SPT would not apply.

[/b]
They not paying for the refinery.
But they supposed to be fixing it up and getting it refining.

So we would have a 3rd party upgrading and running the refinery....

Taxes, business, employment supposedly should be flowing from the getgo- with the culmination of full operations.

So if everything is as it is supposed to be..then GORTT should have it hand.

If it gets up and running and they buss-the refinery was upgraded- and we go next.

Matters not what you "believe" Since the closure, they new entity was EXEMPT form SPT,(btw how do you 'believe" that you be exempt from a tax you did not qualify for?) hence the sudden profitability. There was of course the outcry from the other producers who are non-exempt, so once again Guy Smiley and JUHN Scarfy have put us in sheit.

[Redman]

SPT is not charged to refining operations -we talking about Patriotic.
Patriotic doesnt produce oil.
You should look up the Petroleum Act.

[De Dragon]

SPT is not charged to refining operations -we talking about Patriotic.
Patriotic doesnt produce oil.
You should look up the Petroleum Act.

PT as a company was artificially made to show a profit by exemption from SPT.

[Redman]

SPT is not charged to refining operations -we talking about Patriotic.
Patriotic doesnt produce oil.
You should look up the Petroleum Act.

PT as a company was artificially made to show a profit by exemption from SPT.

ZR....is that you?

If you gonna make up crap, we wasting time.

[De Dragon]

SPT is not charged to refining operations -we talking about Patriotic.
Patriotic doesnt produce oil.
You should look up the Petroleum Act.

PT as a company was artificially made to show a profit by exemption from SPT.

ZR....is that you?

If you gonna make up crap, we wasting time.

You know PT isn't /wasn't the refinery alone at the time right?

[Redman]

PT never had an exemption, they just did not pay it based on the fact that GORTT always paid subventions for the fuel subsidy very very long after they were due.

But the net result is the same....as you say Petrotrin was not viable the way it was.

[De Dragon]

PT never had an exemption, they just did not pay it based on the fact that GORTT always paid subventions for the fuel subsidy very very long after they were due.

But the net result is the same....as you say Petrotrin was not viable the way it was.

Smoke and mirrors as usual.

[Redman]

PT never had an exemption, they just did not pay it based on the fact that GORTT always paid subventions for the fuel subsidy very very long after they were due.

But the net result is the same....as you say Petrotrin was not viable the way it was.

Smoke and mirrors as usual.

No just the facts....but how is this Germaine to Patriotic and them running the refinery?

[De Dragon]

PT never had an exemption, they just did not pay it based on the fact that GORTT always paid subventions for the fuel subsidy very very long after they were due.

But the net result is the same....as you say Petrotrin was not viable the way it was.

Smoke and mirrors as usual.

No just the facts....but how is this Germaine to Patriotic and them running the refinery?

Smoke and mirror reference was in response to the "profit" declared by PT enabled by GORTT smart man moves in exempting the SPT, but I see your going to continue your obdurate and apologist stance for 5 more years. It's germane btw

[Redman]

No you are conflating several things-

Petrotrin Never had an exemption.-declared some operating profits/EBITDA-

Heritage has a 2 year exemption-

We were discussing Patriotic....and the proposed sale.

Im not sure what you are referring to...thats all

my mispelling of Germane-isnt germane-

[De Dragon]

No you are conflating several things-

Petrotrin Never had an exemption.-declared some operating profits/EBITDA-

Heritage has a 2 year exemption-

We were discussing Patriotic....and the proposed sale.

Im not sure what you are referring to...thats all

my mispelling of Germane-isnt germane-

Obdurate, as I said. You know full well when we say PT we mean all the divisions, refinery, E&P, Trinmar etc. PT was granted an exemption from SPT, hence allowing the PNM to declare a fake profit. When they weren't exempted they were a loss making entity, hence the decision to shutter it for 2+ years now is based on a falsehood. Simple. Dunno why you're turning it into a PNM defence of the refinery sale to a patently unqualified company on sweetheart terms.

[Redman]

Im not as bright as you so you have to explain...
what does this have to do with the Patriotic energies and the refinery?

And I explained-there WAS NO EXEMPTION meaning it was an unpaid liability wherever it existed....

Petrotrin not paying taxes has been happening for decades- it was a structural problem between a state owned enterprise and the GORTT where BOTH parties have unpaid liabilities to each other.-SPT/PPT/Income Taxes on one hand and the Subvention for the subsidy-that headline number that GORTTs like to pelt out.
That is fact

What you are saying is that if the SPT was applied Petrotrin was losing money....so the PNM fudged the books to declare a profit as justification to "shutter"?

[daxt0r]

i for one cya wait whoever to restart the refinery cuz if Paria and Heritage is anything to go by since the breakup is RFQ for technical services wok like wow, an even more bobol than mentioned by the report b4 this whole thing started.
Sometime when i have to do ah scope ah does jus be laughing and adding hours/days and increase rate for spite when i see the kinda nonsense they outsourcing now AND have no problem paying for.
Is like PT fire all the men with intelligence and jus keep the PNM dummie stalwarts, then again is d PM lawyer/friend in charge so what more to expect from the geniuses who invented URP and CEPEP.

[De Dragon]

Im not as bright as you so you have to explain...
what does this have to do with the Patriotic energies and the refinery?

And I explained-there WAS NO EXEMPTION meaning it was an unpaid liability wherever it existed....

Petrotrin not paying taxes has been happening for decades- it was a structural problem between a state owned enterprise and the GORTT where BOTH parties have unpaid liabilities to each other.-SPT/PPT/Income Taxes on one hand and the Subvention for the subsidy-that headline number that GORTTs like to pelt out.
That is fact

What you are saying is that if the SPT was applied Petrotrin was losing money....so the PNM fudged the books to declare a profit as justification to "shutter"?

Finally.

[Redman]

So you saying that they used the profit to justify the restructuring.

You have a link to where they say we shutting cuz it making money?

[De Dragon]

So you saying that they used the profit to justify the restructuring.

You have a link to where they say we shutting cuz it making money?

It's easier to get rid of an unprofitable enterprise by portraying it, falsely as it turns out, to be a Treasury drain. Seems like you're still in "left foot, dotish, right foot dotish," mode,
naw, scratch that, you never left.............