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Petrotrin refinery shut down

this is how we do it.......

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Re: Petrotrin refinery shut down

Postby zoom rader » November 11th, 2020, 11:20 am

Redman wrote:
zoom rader wrote:
Redman wrote:Agreed- but they cant prove whether the oil was actually delivered or not.

Which is not to say that it WAS delivered.

I think the substantiation of the claim is the problem, the cross checks at Petrotrin that were there to protect Petrotrins interest,and the MOEEIs interest were Deokisinghed.
Spin doctor protecting the red Goverment.


No- I think it was happening...hands down.
And you know the players.


That said I dont think Petrotrin can prove it.

2009 to now....AV was bad so long before he get into oil.
Petrotrin and red Goverment know exactly what they doing.

Had this been a non red Goverment doing this then the media would have field day and Rowlee bumping gumbs

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Re: Petrotrin refinery shut down

Postby shake d livin wake d dead » November 11th, 2020, 11:27 am

Anybody else hearing that a vene company could be in contention for Pechochin??

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Re: Petrotrin refinery shut down

Postby shake d livin wake d dead » November 11th, 2020, 11:31 am

Pdvsa under 1 of their subsidiary controlled gas stations in the US...when the sheit started they had to pull out...in our recent budget all of a sudden gas stations for sale and before that how many loans we got from the latin american bank???? CAL again ...1 for road which was 200million and another for plane ....in d covid time for 250mil...if we can't see how this cookie crumbling me ain't know nah and mind you the immigrants that our hardworking cmo said it's them that bringing the covid got extension to stay here


I know allyuh like to read...I like to post common sense

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Re: Petrotrin refinery shut down

Postby sMASH » November 11th, 2020, 12:56 pm

every tin foil arrow pointing to that.

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Re: Petrotrin refinery shut down

Postby The_Honourable » November 11th, 2020, 1:16 pm

Prime Minister Dr. Keith Rowley Hosts Media Conference - Wednesday November 11th 2020


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Re: Petrotrin refinery shut down

Postby Lou Screuz » November 11th, 2020, 1:16 pm

I think he has said opposition at least 23 times in the last 2 minutes

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Re: Petrotrin refinery shut down

Postby aaron17 » November 11th, 2020, 1:27 pm

Beginning of speech ..
'First of all...I would like to blame kamla..'

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Re: Petrotrin refinery shut down

Postby Lou Screuz » November 11th, 2020, 1:54 pm

so if i hear right so far

all the bacchanal that went on with petrotrin

is the opposition fault

and if patriotic cannot get the refinery

it will be the opposition fault

because the largest traders and bankers in the world are 'skittish' :lol:

and get scared :cry: easily when nations' opposition politicians make what we should assume to be false allegations


smart man is still trying hard to make the case

that Afra Raymond asking questions about the sandals deal

made sandals afraid :cry:

and cause them to run away

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Re: Petrotrin refinery shut down

Postby zoom rader » November 11th, 2020, 1:59 pm

Lou Screuz wrote:so if i hear right so far

all the bacchanal that went on with petrotrin

is the opposition fault

and if patriotic cannot get the refinery

it will be the opposition fault

because the largest traders and bankers in the world are 'skittish'

and get scared :cry: easily when nations' opposition politicians make what we should assume to be false allegations


smart man is still trying hard to make the case

that Afra Raymond asking questions about the sandals deal

made sandals afraid :cry:

and cause them to run away
I did say a few months ago that Kams will be blamed for the closure and sellimg of Petrotrin failure.

Ent the red Goverment said Panday was to blame for closing Caroni

Once the sheep like redman with 320000 hear the word kams or opposition you know it will true coming fron their king of Ghana

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Re: Petrotrin refinery shut down

Postby K74T » November 11th, 2020, 4:02 pm

Prime Minister Dr the Hon Keith Rowley has condemned the Opposition Leader’s false accusations regarding the State’s negotiations with Patriotic for the sale of the Petrotrin refinery.

Speaking at a media conference at the Diplomatic Centre today (Wednesday 11 November, 2020) Dr Rowley said Persad-Bissessar’s behaviour could derail the deal and disadvantage all the citizens who stand to benefit from the restart of the refinery.

The Prime Minister said the Government’s intention to sell the refinery was no secret.

Dr Rowley said, “Anybody who was paying attention to the business of Government in Trinidad and Tobago for the last four years will know that this is no disclosure." He added, “I as Prime Minister and other members of the Government, every step of the way, have told the public what we were doing and why we were doing it.”

The Opposition leader on Monday night put this project in jeopardy because people who Patriotic rely on to go forward in dealing and in committing itself to the Government - banker and fuel supplier - are now the target of political attack in Trinidad and Tobago.”

The Prime Minister said, “A higher level of responsibility is to be expected from a former Prime Minister, not to go on a platform and seek to undermine the process for your own personal benefit … putting at risk all the work that we have done.”

Dr Rowley said he remains hopeful that the deal with Patriotic could be finalized by the given deadline.

FB_IMG_1605124767668.jpeg

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Re: Petrotrin refinery shut down

Postby K74T » November 11th, 2020, 4:21 pm

Key Points from Prime Minister Dr. Keith Rowley’s Media Conference On UNC’s Claims On Patriotic’s Bid To Purchase Refinery And Assets– Wednesday November 11th, 2020

Prime Minister Dr. Keith Rowley held a Media Conference to clarify statements made by Opposition Leader Kamla Persad-Bissessar on Patriotic’s proposed bid to purchase the Guaracara Refinery and other assets. At a UNC Virtual Meeting on Monday, the Opposition Leader claimed that Patriotic’s 2020 bid, which included ongoing negotiations in commercial matters and Non-Disclosure Agreements, was ‘dropped in her mailbox.’

The Prime Minister believes the Opposition Leader made the statements as an act of desperation for the heat she was facing over plagiarising a congratulatory message to the US President Elect, Joe Biden. He said negotiations with Patriotic is at a sensitive stage and the Opposition Leader is implying that the Government is doing something “under the table” but this is not the case. He stated that Patriotic remains the preferred bidder but if negotiations fall apart with Patriotic, Government will have to end the relationship and go back to market.

PM Rowley said the revelations by the Opposition are a blow and shot under the belly to the OWTU and Patriotic in their attempt to break a mould and try to get into business. He stated that the Opposition Leader has put this project in jeopardy by engaging in “self-destructive, undermining conduct, hoping to destroy any success in this matter." He called on her to stop campaigning and attempting to scare bankers and fuel suppliers who are now the target of political attacks in Trinidad and Tobago. He believes the Opposition is attempting to undermine the project in the same way which led to Sandals pulling out of the Tobago project. But he said the election is over and she should let good sense to prevail.

In his response, Finance Minister Colm Imbert said it was public knowledge that Patriotic was the preferred bidder for the sale of the Guaracara Refinery and Paria Fuel Trading. He clarified that the Opposition Leader was incorrect to say that the Refinery cannot be sold because there is a lien on some of the assets at this time. He also confirmed that Patriotic was asked what fiscal incentives or tax concessions they would require over a year ago, and their requests would be considered.

Energy Minister Franklin Khan reminded that the oil and gas industry is international, and Trinidad and Tobago is highly respected globally, especially when it comes to the “sanctity of the contract.” Minister Khan said the Opposition Leader committed a "cardinal sin against the people of Trinidad and Tobago."

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Re: Petrotrin refinery shut down

Postby elec2020 » November 11th, 2020, 4:37 pm

^ why you putting facts to dispute the claims of the UNC fanatics. Its clear that rowley and them is why the deal for the refinery is under pressure. Not because of the former PM's mis-information on the deal and lies on the health of the financial system (which would detract lenders willing to provide Patriotric with the capital needed for their investment). Rowley lying to we and looking to sell the refinery to he partners in the 1 per cent.

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Re: Petrotrin refinery shut down

Postby zoom rader » November 11th, 2020, 5:55 pm

elec2020 wrote:^ why you putting facts to dispute the claims of the UNC fanatics. Its clear that rowley and them is why the deal for the refinery is under pressure. Not because of the former PM's mis-information on the deal and lies on the health of the financial system (which would detract lenders willing to provide Patriotric with the capital needed for their investment). Rowley lying to we and looking to sell the refinery to he partners in the 1 per cent.
You understand the play and I exposed this back in 2015. Redman and the red Goverment mob attacked me wanting to know I knew that Petrotrin is at the time was going to be sold. Fast forward 4 years later and we seeing it all falls in to place.

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Re: Petrotrin refinery shut down

Postby bluefete » November 11th, 2020, 8:40 pm

Plot twist:

Suppose Rowley and Kamla team up to shaft Roget??

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Re: Petrotrin refinery shut down

Postby bluefete » November 11th, 2020, 8:44 pm

zoom rader wrote:
elec2020 wrote:^ why you putting facts to dispute the claims of the UNC fanatics. Its clear that rowley and them is why the deal for the refinery is under pressure. Not because of the former PM's mis-information on the deal and lies on the health of the financial system (which would detract lenders willing to provide Patriotric with the capital needed for their investment). Rowley lying to we and looking to sell the refinery to he partners in the 1 per cent.
You understand the play and I exposed this back in 2015. Redman and the red Goverment mob attacked me wanting to know I knew that Petrotrin is at the time was going to be sold. Fast forward 4 years later and we seeing it all falls in to place.


Ent the IMF said that under certain stress test conditions that our banks could be at risk of collapse?

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Re: Petrotrin refinery shut down

Postby zoom rader » November 11th, 2020, 9:02 pm

bluefete wrote:
zoom rader wrote:
elec2020 wrote:^ why you putting facts to dispute the claims of the UNC fanatics. Its clear that rowley and them is why the deal for the refinery is under pressure. Not because of the former PM's mis-information on the deal and lies on the health of the financial system (which would detract lenders willing to provide Patriotric with the capital needed for their investment). Rowley lying to we and looking to sell the refinery to he partners in the 1 per cent.
You understand the play and I exposed this back in 2015. Redman and the red Goverment mob attacked me wanting to know I knew that Petrotrin is at the time was going to be sold. Fast forward 4 years later and we seeing it all falls in to place.


Ent the IMF said that under certain stress test conditions that our banks could be at risk of collapse?
Our banks are propped by the underworld and Rowlee and his 40 thieves tried to stop it with the ridiculous money exchange program that failed.

They targeted the small man when in fact it's big bussiness that are the underworld.

Stop the underworld and watch how fast the banks will sink.

This country is fillied with 320000 idiots
Last edited by zoom rader on November 11th, 2020, 9:02 pm, edited 2 times in total.

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Re: Petrotrin refinery shut down

Postby elec2020 » November 11th, 2020, 9:04 pm

^ i am not going to go into detail as i did not read the report. But "a bank stress test is an analysis conducted under hypothetical scenarios designed to determine whether a bank has enough capital to withstand a negative economic shock. These scenarios include unfavorable situations, such as a deep recession or a financial market crash." The key things here are hypothetical scenario and unfavorable situations. So essentially stress tests aim to find what conditions would cause an institution to fall below capital requirements. Whether or not these conditions will ever be realized is another thing. For example in this paper used stress tests where there was a 20 per cent reduction in GDP http://onlinepubs.trb.org/onlinepubs/nc ... RP20-83(07)_TechMemo1.pdf. The only time TnT hit such crazy numbers was in the late 1980s and early 1990s. Since then we haven't done anything to go back to that situation so it is very likely that the scenarios in the IMF report would not be realized.

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Re: Petrotrin refinery shut down

Postby elec2020 » November 11th, 2020, 9:13 pm

Because ZR made a comment let me get more technical here. The following parts in quotation marks were taken from the report and I will say why they are an issue when validating the report's stress testing results:

(i). "The resilience of commercial banks was assessed by three illustrative stress scenarios: two COVID-19 scenarios, and a pre-COVID-19 adverse scenario. It is worth mentioning that while these illustrative scenarios represent severe but plausible macroeconomic shocks, they do not represent staff’s economic forecasts for Trinidad and Tobago, and are subject to an unusually high degree of uncertainty given the unfolding impact of the ongoing pandemic." So they already making it known here to interpret ate their results with care.

(ii). "Although the scenarios differ, including with respect to their assumptions on financial conditions, the same methodology is used to quantify their implications on bank solvency. In all three scenarios, credit losses were estimated from cross-country analysis and loan classification and loan loss provisioning were adjusted." Cross-country analysis makes it sound like they did not use solely TnT data to determine loan classification and loan loss provisioning, which should call into question how reflective are the results of TnT.

(iii). "Using the methodology developed by Fund staff, 3 credit-loss sensitivities to GDP were applied to the adverse scenario to obtain bank-by-bank credit losses. Two adjustments were made to the pre-stress test position of banks. First, the initial level of provisions was adjusted to that in 2009, given its current relatively low level. Second, the NPLs and capital ratios were adjusted to reflect the higher risk in refinancing and debt consolidation loans. Households may have utilized lower interest rates to restructure debt but could also have been facing loan repayment difficulties given the 2016–18 slowdown. The NPL stock was therefore increased by the total stock of refinancing and consolidation loans and additional provisions applied (using the provisioning rate for sub-standard loans). The impact of these consolidated adjustments plus the adverse-scenario shock raised the aggregate NPL ratio to about 12 percent." So basically the TnT data was adjusted again based on there assumptions before running their stress tests. So once more how true is this data for TnT.

People stop taking what blurbs politicians or the media telling you about these reports and take the time to read these things properly for yourselves. I haven't opened that report till today and I find 3 issues already. Easy easy

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Re: Petrotrin refinery shut down

Postby daxt0r » November 12th, 2020, 7:31 am

me eh so old an ting like some ah d older and much smarter heads here, but ah sure somebody here could answer
Who PNM did blame from 1962 to 1986?
because boy it seems even when the govt own actions are exposed kamala is somehow to be blamed, is their anything kamala can't be blamed for lol?
Ah wonder who close the refinery in the first place after dey stand up in front d whole Trinidad and say the refinery wouldn't be closed or sold and did exactly just that?
Which party did the incompetent Malcolm Jones and countless other who saddled it with debt belong too?
Who party financier and friend get to duck PT ah 100milli no questions asked, and in fact turn around the lawsuits so that we the taxpayer go end up paying him for his crimes?
The incompetent redundant workers belonged to which union that contrived to suck productivity dry from way back in Tesoro days over the years while demanding pay increases and maximum benefits and luxuries?

Is it really so easy to pull the wool over 320000 people eyes by just saying blame Kamala? What does that say about the intelligence level of these people who choose to believe ah man who held up a clearly typed of microsoft word document claiming it to be an email? I feel dem like all d ppl who get scam in pyramid/iml/forex/sou sou, they does just stay quiet an take it an even encourages others to partake in the sufferation lol.

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Re: Petrotrin refinery shut down

Postby The_Honourable » November 12th, 2020, 2:29 pm

This is why Rowley did jump out...

Kamla: Patriotic offered $200M less in 2020 bid for refinery

The Oilfields Workers' Trade Union’s (OWTU) Patriotic Energies submitted a bid for $200 million less than their initial promise to the government in the deal for the Petrotrin Refinery.

The information was revealed last night by Political Leader of the United National Congress (UNC) Kamla Persad Bissessar during the party’s virtual report.

“What is noteworthy in the statement, is that Patriotic offered, you’ll remember, USD$700 million for the refinery assets and USD$300 million for the non-core assets, there was no price in the bid for the Paria assets. I now have a document in my possession, as I said, with a Patriotic Energies letterhead dated October 29, 2020... it is now discovered from this document that Patriotic has now offered an upfront payment of $500 million for the assets,” she revealed.

She later said that the total figure was USD$526 million in total, but that Patriotic was prepared to pay USD$500 million and wanted the government to pay USD$26 million in fees on their behalf.

“In addition to dropping the price, they wanted the government to pay them $26 million, this is far less from their USD$700 million offer,” she added.

Another USD$500 million would have been required in order to fully restart operations at the refinery, bringing the cost to a grand total of USD$1 billion.

The UNC Leader also claimed that Patriotic approached the Royal Bank of Canada (RBC) to help with financing USD$500 million while another firm, Trafigura was set to finance the other half of the bill.

More than that, Patriotic also proposed that they’d be exempt from paying taxes as part of their deal with Trafigura.

Trafigura has indicated that they will require exemptions and concessions from taxes, duties, levies; inclusive of taxes in income from Trinidad and Tobago.

“So, if the government cannot collect taxes from the refinery or Paria, what is the benefit to the people of Trinidad and Tobago?” she questioned.

Currently, through Paria’s operations, the company has contributed over $100 million in taxes.

Persad Bissessar said Patriotic’s 2020 bid was ‘dropped in her mailbox’. It was supposedly addressed to Minister of National Security, Stuart Young and Minister of Energy and Energy Industries, Franklin Khan.

After closing the refinery in 2018, the government said that Patriotic would have first preference to acquire the assets providing that they had a competitive bid.

After narrowly meeting the government’s October 31 deadline, Minister Khan returned two days later to say that Patriotic’s bid was denied and that the doors were now open for other, possibly international bidders.

Source: https://www.looptt.com/content/kamla-pa ... d-refinery

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Re: Petrotrin refinery shut down

Postby zoom rader » November 12th, 2020, 2:59 pm

^^^ Hmmmm beans being exposed.

Redman explain nah

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Re: Petrotrin refinery shut down

Postby Redman » November 12th, 2020, 5:14 pm

The prime minister explained.
It isn’t hard.
2019..700 over 10 years with a 3 year moratorium. (Vs the other two bids...they over bid.)
Google NPV of money....ie bird in hand.

2020 500 lump sum.

Patriotic ...the buyer is right ..COVID has changed the game.
Where are oil prices?
Where are volumes...based on economic activity?
Would you offer more or less than you did last year...?

The world is different...and the business of the refinery more challenging...

Make the govt take some Licks for taking a year....this is big boy business...and the govt doing crap by taking so long.


Kamla sadly is just sensationalizing the terms of the offer...which would be the offer that was rejected and is now being reviewed.

So...what the fck is the problem?

Is she saying the govt should reject the offer?
What do you think?

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Re: Petrotrin refinery shut down

Postby sMASH » November 12th, 2020, 5:21 pm

daxt0r wrote:me eh so old an ting like some ah d older and much smarter heads here, but ah sure somebody here could answer
Who PNM did blame from 1962 to 1986?
because boy it seems even when the govt own actions are exposed kamala is somehow to be blamed, is their anything kamala can't be blamed for lol?
Ah wonder who close the refinery in the first place after dey stand up in front d whole Trinidad and say the refinery wouldn't be closed or sold and did exactly just that?
Which party did the incompetent Malcolm Jones and countless other who saddled it with debt belong too?
Who party financier and friend get to duck PT ah 100milli no questions asked, and in fact turn around the lawsuits so that we the taxpayer go end up paying him for his crimes?
The incompetent redundant workers belonged to which union that contrived to suck productivity dry from way back in Tesoro days over the years while demanding pay increases and maximum benefits and luxuries?

Is it really so easy to pull the wool over 320000 people eyes by just saying blame Kamala? What does that say about the intelligence level of these people who choose to believe ah man who held up a clearly typed of microsoft word document claiming it to be an email? I feel dem like all d ppl who get scam in pyramid/iml/forex/sou sou, they does just stay quiet an take it an even encourages others to partake in the sufferation lol.



after the devil is kamala, bro. any pnm household, if they mention she name, they hadda hawk a spit on the side.

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Re: Petrotrin refinery shut down

Postby elec2020 » November 13th, 2020, 9:17 am

https://trinidadexpress.com/news/local/ ... d1e70.html

Opposition Leader Kamla Persad-Bissessar attempted to harm the Oilfields Workers’ Trade Union’s bid through Patriotic Energies and Technologies to acquire the assets of the former Petrotrin refinery.
But she failed.
As he blasted Persad-Bissessar over statements she made this week on Patriotic’s proposal to own and re-start the refinery at Pointe-a-Pierre, OWTU president general Ancel Roget said there was an attempt by the Opposition Leader to cause “great injury” to the acquisition process.
In a UNC virtual meeting on Monday, Persad-Bissessar raised questions about Patriotic’s bid for the assets of the former State oil company and its proposed financing arrangements through Trafigura, one of the world’s largest commodities traders.
Addressing reporters at OWTU’s San Fernando headquarters yesterday, Roget said: “We want to condemn in the strongest possible terms outright all of those assertions made by the honourable Leader of the Opposition in her campaign to deny us an opportunity to protect our legacy and to advance Trinidad and Tobago and to advance the concerns and the well-being of the small man who today is left wanting.”
He said the records would show that the UNC was always against the OWTU and Patriotic acquiring the refinery, making it clear that if they had won the general election, they were going to cancel the acquisition process.
“When the announcement was made on October 31 that Patriotic will no longer be part of this acquisition process and that our proposal was denied, what in fact that did, while it brought sorrow and pain and agony not just to the OWTU and its members but to the hundreds of thousands of persons in Trinidad and Tobago, it brought joy to the heart of the honourable Leader of the Opposition.
“I also wish to remind everyone that it was only in October of last year, two prominent individuals from the United National Congress went to the High Court and filed an injunction to stop the process while at the same time they portrayed they were supporting Petrotrin workers.”
Obsession with Trafigura
Addressing the Trafigura matter, Roget said there seemed to be some obsession and sustained campaign against Trafigura with a narrative that the company is a notorious trader and there was some conspiracy with OWTU and Trafigura, where the company came to Trinidad and Tobago under the pretext of assisting OWTU, but really to gain the assets of the country.
Roget shared a copy of an extract from an Extractive Industries Transparency Initiative report which showed the volume of business Trafigura did with State-owned Enterprises (SOEs), namely Lake Asphalt, Petrotrin and the National Gas Company for the period 2014–2017. The extract showed that Trafigura would have paid some US$758.65 million to the energy companies during that period, with US$80.79 million being paid to Petrotrin and US$105.6 million paid to NGC in 2014.
“Two major revenue streams coming to the country when the now-Leader of the Opposition was then-prime minister. The Cabinet of Trinidad and Tobago must have known where these two major revenue streams came from. The (former) prime minister ought to have known. Her Minister of Energy then ought to have known.
“My point this afternoon is she ought to have known indeed, if she didn’t know, then we’re in deep trouble because it will be likened to ‘sunshine can kill Covid’.”
Roget said it is most outrageous, reckless and irresponsible for the Opposition Leader to try to portray the OWTU in scandal and collusion with Trafigura since she ought to have known that the company was dealing in Trinidad, specifically with Petrotrin, even prior to 2014.
“It is incumbent upon us because we have the information, to put this information out in the public domain to condemn and once and for all put to bed this insatiable obsession with Trafigura.”
“There was an attempt by the honourable Leader of the Opposition to spread misinformation in misleading the country by saying the original (request for proposal), which we placed our bid for, did not include Paria (Fuel Trading Company) and therefore we are now coming from behind to try to put in a bid to acquire Paria,” Roget told reporters.
Roget said with the refinery in operation, it was necessary to have both refinery and a port. Thus, their bid would have been for the refinery, now identified as Guaracara, and the port, now identified as Paria.
“So our response to the RFP and to put in a bid, it had to have been for both refinery and port facilities for it to make any sense. More than that, for it to make any economical and operational sense, for it to benefit the company, and for it to benefit Trinidad and Tobago,” Roget said.
He said it is a matter of public record that their bid was for both refinery and port, and it was an act of treachery for someone who had knowledge to the contrary, to peddle this.
He added that Patriotic’s bid was announced in the Parliament and Persad-Bissessar was present when the announcement was made.
Attempt to cause hurt
On Monday Persad-Bissessar said that Patriotic had reduced its original bid of US$700 million to US$500 million, and that the Government was now willing to accept less money for the refinery.
However, Roget explained the change in Patriotic’s offer.
“Our new proposal would have taken into account the offer made by the Minister of Finance. We would have responded to that except to say that we’re now paying upfront for what we would have taken 13 years to pay — a three year moratorium, ten years to pay.
“And the net present value, what that would value in 13 years down the road is what our offer would have worked out to be in today’s value. And therefore, using the formula and guided by the experts in this regard, we would have come up with a price and that price would have been put forward in our proposal.”
He also noted that the refinery would have been out of operation for two years and maintenance work would have to be done on some of its equipment to get them operational. “You cannot take off a refinery, some 23 plants, leave it off for two years and then expect to start it up just like that. It takes a whole lot of capital and because we want to ensure that when it starts up, it can run and make money, pay all our debts, it has to be with a level of reliability and therefore we have to repair.
“The goodly Leader of the Opposition gave Patriotic the thumbs down and make it look we want to have a steal of a deal ‘because they offered US$700 million and now they offering less, they offer US$500 million’.
“What took place, there was an attempt to cause great injury and harm to the acquisition process, to ensure that those assets are not acquired on behalf of our people of Trinidad and Tobago.”
Roget said Persad-Bissessar’s pronouncements were meant to be a fatal blow to ensure that the small man did not rise to economic prominence in the country and it represented a thinly-veiled approach to hide the real intention to halt the process.
He said after calling for an independent valuation committee to review their proposal and the announcement was made that Patriotic was still in the game, and they now afforded an opportunity to present before the committee the full extent of their proposal, that would have angered and infuriated the person who would have joy had they not gotten to go ahead with the acquisition process.
He added that they met with the valuation committee last Friday and were scheduled to meet again yesterday.


So Roget basically blasting up Kamla. So what was the point of her releasing this information. She would have now garnered no votes from OWTU UNC members. What is her game plan?

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zoom rader
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Re: Petrotrin refinery shut down

Postby zoom rader » November 13th, 2020, 9:24 am

elec2020 wrote:https://trinidadexpress.com/news/local/kamla-tried-to-harm-owtu-s-bid/article_ef9dedc6-2551-11eb-bca7-f71e235d1e70.html

Opposition Leader Kamla Persad-Bissessar attempted to harm the Oilfields Workers’ Trade Union’s bid through Patriotic Energies and Technologies to acquire the assets of the former Petrotrin refinery.
But she failed.
As he blasted Persad-Bissessar over statements she made this week on Patriotic’s proposal to own and re-start the refinery at Pointe-a-Pierre, OWTU president general Ancel Roget said there was an attempt by the Opposition Leader to cause “great injury” to the acquisition process.
In a UNC virtual meeting on Monday, Persad-Bissessar raised questions about Patriotic’s bid for the assets of the former State oil company and its proposed financing arrangements through Trafigura, one of the world’s largest commodities traders.
Addressing reporters at OWTU’s San Fernando headquarters yesterday, Roget said: “We want to condemn in the strongest possible terms outright all of those assertions made by the honourable Leader of the Opposition in her campaign to deny us an opportunity to protect our legacy and to advance Trinidad and Tobago and to advance the concerns and the well-being of the small man who today is left wanting.”
He said the records would show that the UNC was always against the OWTU and Patriotic acquiring the refinery, making it clear that if they had won the general election, they were going to cancel the acquisition process.
“When the announcement was made on October 31 that Patriotic will no longer be part of this acquisition process and that our proposal was denied, what in fact that did, while it brought sorrow and pain and agony not just to the OWTU and its members but to the hundreds of thousands of persons in Trinidad and Tobago, it brought joy to the heart of the honourable Leader of the Opposition.
“I also wish to remind everyone that it was only in October of last year, two prominent individuals from the United National Congress went to the High Court and filed an injunction to stop the process while at the same time they portrayed they were supporting Petrotrin workers.”
Obsession with Trafigura
Addressing the Trafigura matter, Roget said there seemed to be some obsession and sustained campaign against Trafigura with a narrative that the company is a notorious trader and there was some conspiracy with OWTU and Trafigura, where the company came to Trinidad and Tobago under the pretext of assisting OWTU, but really to gain the assets of the country.
Roget shared a copy of an extract from an Extractive Industries Transparency Initiative report which showed the volume of business Trafigura did with State-owned Enterprises (SOEs), namely Lake Asphalt, Petrotrin and the National Gas Company for the period 2014–2017. The extract showed that Trafigura would have paid some US$758.65 million to the energy companies during that period, with US$80.79 million being paid to Petrotrin and US$105.6 million paid to NGC in 2014.
“Two major revenue streams coming to the country when the now-Leader of the Opposition was then-prime minister. The Cabinet of Trinidad and Tobago must have known where these two major revenue streams came from. The (former) prime minister ought to have known. Her Minister of Energy then ought to have known.
“My point this afternoon is she ought to have known indeed, if she didn’t know, then we’re in deep trouble because it will be likened to ‘sunshine can kill Covid’.”
Roget said it is most outrageous, reckless and irresponsible for the Opposition Leader to try to portray the OWTU in scandal and collusion with Trafigura since she ought to have known that the company was dealing in Trinidad, specifically with Petrotrin, even prior to 2014.
“It is incumbent upon us because we have the information, to put this information out in the public domain to condemn and once and for all put to bed this insatiable obsession with Trafigura.”
“There was an attempt by the honourable Leader of the Opposition to spread misinformation in misleading the country by saying the original (request for proposal), which we placed our bid for, did not include Paria (Fuel Trading Company) and therefore we are now coming from behind to try to put in a bid to acquire Paria,” Roget told reporters.
Roget said with the refinery in operation, it was necessary to have both refinery and a port. Thus, their bid would have been for the refinery, now identified as Guaracara, and the port, now identified as Paria.
“So our response to the RFP and to put in a bid, it had to have been for both refinery and port facilities for it to make any sense. More than that, for it to make any economical and operational sense, for it to benefit the company, and for it to benefit Trinidad and Tobago,” Roget said.
He said it is a matter of public record that their bid was for both refinery and port, and it was an act of treachery for someone who had knowledge to the contrary, to peddle this.
He added that Patriotic’s bid was announced in the Parliament and Persad-Bissessar was present when the announcement was made.
Attempt to cause hurt
On Monday Persad-Bissessar said that Patriotic had reduced its original bid of US$700 million to US$500 million, and that the Government was now willing to accept less money for the refinery.
However, Roget explained the change in Patriotic’s offer.
“Our new proposal would have taken into account the offer made by the Minister of Finance. We would have responded to that except to say that we’re now paying upfront for what we would have taken 13 years to pay — a three year moratorium, ten years to pay.
“And the net present value, what that would value in 13 years down the road is what our offer would have worked out to be in today’s value. And therefore, using the formula and guided by the experts in this regard, we would have come up with a price and that price would have been put forward in our proposal.”
He also noted that the refinery would have been out of operation for two years and maintenance work would have to be done on some of its equipment to get them operational. “You cannot take off a refinery, some 23 plants, leave it off for two years and then expect to start it up just like that. It takes a whole lot of capital and because we want to ensure that when it starts up, it can run and make money, pay all our debts, it has to be with a level of reliability and therefore we have to repair.
“The goodly Leader of the Opposition gave Patriotic the thumbs down and make it look we want to have a steal of a deal ‘because they offered US$700 million and now they offering less, they offer US$500 million’.
“What took place, there was an attempt to cause great injury and harm to the acquisition process, to ensure that those assets are not acquired on behalf of our people of Trinidad and Tobago.”
Roget said Persad-Bissessar’s pronouncements were meant to be a fatal blow to ensure that the small man did not rise to economic prominence in the country and it represented a thinly-veiled approach to hide the real intention to halt the process.
He said after calling for an independent valuation committee to review their proposal and the announcement was made that Patriotic was still in the game, and they now afforded an opportunity to present before the committee the full extent of their proposal, that would have angered and infuriated the person who would have joy had they not gotten to go ahead with the acquisition process.
He added that they met with the valuation committee last Friday and were scheduled to meet again yesterday.


So Roget basically blasting up Kamla. So what was the point of her releasing this information. She would have now garnered no votes from OWTU UNC members. What is her game plan?
To expose the corruption between the red Goverment union and the red Goverment.

It's blantant now for all those see , poor Rowlee trying to do damage control .

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Re: Petrotrin refinery shut down

Postby elec2020 » November 13th, 2020, 9:31 am

^ Kamla has 0 credibility. This is the same idiot that claim that the she acquired a report from the International Monetary Fund which indicated that local banks were at risk. The only report produced by the IMF on the financial sector was the Financial Sector Assessment Program Report. That report indicated potential risks following stress tests. But as i indicated earlier in this thread the IMF early on stated that those results should be taken essentially with a pinch of salt and they made several adjustments to the data set which calls into question how reflective that data is of TnT. But no Kamla have some special documentation indicating otherwise. This woman is a fraud. She needs to go if UNC ever wishes to get back into power. She is only fooling individuals like u who fixated on racial politics

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Re: Petrotrin refinery shut down

Postby zoom rader » November 13th, 2020, 9:38 am

elec2020 wrote:^ Kamla has 0 credibility. This is the same idiot that claim that the she acquired a report from the International Monetary Fund which indicated that local banks were at risk. The only report produced by the IMF on the financial sector was the Financial Sector Assessment Program Report. That report indicated potential risks following stress tests. But as i indicated earlier in this thread the IMF early on stated that those results should be taken essentially with a pinch of salt and they made several adjustments to the data set which calls into question how reflective that data is of TnT. But no Kamla have some special documentation indicating otherwise. This woman is a fraud. She needs to go if UNC ever wishes to get back into power. She is only fooling individuals like u who fixated on racial politics
So Rowlee email gate is creditable?

elec2020
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Re: Petrotrin refinery shut down

Postby elec2020 » November 13th, 2020, 11:49 am

how much of email gate was incorrect when the documents allegedly showed an email thread between then government (UNC) ministers Suruj Rambachan, Gary Griffith, Roodal Moonilal, Anand Ramlogan and then prime minister Kamla Persad-Bissessar in a plot to undermine the Office of the Director of Public Prosecutions (DPP), judiciary and media. And a few years later we get this

Oropouche East MP Dr Roodal Moonilal and two UNC deputy political leaders, one of whom is a senator and another who used to be managing director of the Housing Development Corporation, have been named in evidence given to the Joint Select Committee on National Security as having connections with known criminal gang leaders.

https://trinidadexpress.com/news/local/ ... 57b24.html

Also a series of corruption charges were last night being laid against former attorney general Anand Ramlogan, SC, and United National Congress (UNC) Senator Gerald Ramdeen by officers of the Anti-Corruption Investigative Bureau (ACIB).

https://trinidadexpress.com/news/local/ ... 28faf.html

So again how false was email gate when the same people it highlighted for perverting the course of justice were charged or accused of doing things that essentially.... you guessed it.... perverted the course of justice

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Re: Petrotrin refinery shut down

Postby zoom rader » November 13th, 2020, 11:54 am

elec2020 wrote:how much of email gate was incorrect when the documents allegedly showed an email thread between then government (UNC) ministers Suruj Rambachan, Gary Griffith, Roodal Moonilal, Anand Ramlogan and then prime minister Kamla Persad-Bissessar in a plot to undermine the Office of the Director of Public Prosecutions (DPP), judiciary and media. And a few years later we get this

Oropouche East MP Dr Roodal Moonilal and two UNC deputy political leaders, one of whom is a senator and another who used to be managing director of the Housing Development Corporation, have been named in evidence given to the Joint Select Committee on National Security as having connections with known criminal gang leaders.

https://trinidadexpress.com/news/local/ ... 57b24.html

Also a series of corruption charges were last night being laid against former attorney general Anand Ramlogan, SC, and United National Congress (UNC) Senator Gerald Ramdeen by officers of the Anti-Corruption Investigative Bureau (ACIB).

https://trinidadexpress.com/news/local/ ... 28faf.html

So again how false was email gate when the same people it highlighted for perverting the course of justice were charged or accused of doing things that essentially.... you guessed it.... perverted the course of justice
None of them has be found guilty as yet and email gate was a lie

Keep drinking the red Goverment kool aid

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Re: Petrotrin refinery shut down

Postby toyolink » November 13th, 2020, 12:07 pm

A possibility for fiscalisation of a state asset seems now to be going into limbo since the key players are descending into commess.
All this whilst time is taking a huge toll on people in need of employment and degradation of the asset may be occurring at a rapid rate.

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