Petrotrin refinery shut down

[matr1x]

Pnm had lied about the accounts for caroni, any surprised they would lie here too?

[Redman]

The maths and the actions not adding up.

If the maths right the best ting is to leave it down. But they desperately want to get it producing

If they need to get it back online, then the maths they pushed, is not correct.

Well the difference now is that it's not on the govt's tab....meaning that whoever take up the challenge..is responsible for losses...and therefore efficiency.

Also the old entrenched interests are no longer strong enough to sway govt.

Tough medicine but necessary.

[bluefete]

State shouldn't be involved in private enterprise. Period

Focus on providing public goods and services to the ppl and not jobs for friends and families. That is all politics is in tt. Controlling the gov't so that you can control the spending in the economy and enrich friends and families. What these ppl ever do in their lives for us to hand them control of billions of dollars.

Some of them can't even manage their household and personal finance.

Yup I have been saying this years now.

Governments as least trini Governments must not be running even a parlor.

After all these years of Government run business we saw very little from it. Red government family and friends had made monies while having their family and friends employed to run state businesses .

Don't conveniently forget Tantie Kams and her minions as well, eh!

[Redman]

Nah bluefete that is the lies Zoombindranath talking about.

[zoom rader]

Nah bluefete that is the lies Zoombindranath talking about.

Kams had 1 term in office while the red government in 10 terms.

Who enjoyed the most while citizens got less?

[K74T]

Kams

[daxt0r]

hey with all the distractions with high and ever increasing violent crime rate and generally dangerous and toxic environment, the destruction of our citizens by marauding PNM/state sponsored criminals, oil tiefin companies, govt lying to the public en masse and takin the public for a fool, sou sous, what became of the short imps man promise that by the end of January we suppose to be paying free market prices at the pump?

Still bleeding we dry to fund URP and CEPEP to feed their criminals gangs and stooges who rape, rob and murder the hard working tax paying citizens? Decades of corruption and nepotism doin it the PNM way real takin we far, far down d drain.

[zoom rader]

hey with all the distractions with high and ever increasing violent crime rate and generally dangerous and toxic environment, the destruction of our citizens by marauding PNM/state sponsored criminals, oil tiefin companies, govt lying to the public en masse and takin the public for a fool, sou sous, what became of the short imps man promise that by the end of January we suppose to be paying free market prices at the pump?

Still bleeding we dry to fund URP and CEPEP to feed their criminals gangs and stooges who rape, rob and murder the hard working tax paying citizens? Decades of corruption and nepotism doin it the PNM way real takin we far, far down d drain.

Ask Habit7 & Redman

[K74T]

Key Points from Post Cabinet Media Briefing – Thursday February 18th 2021:

Government will return to the open market to find another bidder for the Petrotrin Refinery.

Finance Minister Colm Imbert confirmed this as he gave an update on Patriotic's bid for the Refinery at today’s Post Cabinet Media Briefing. The Minister noted that in January, Government had given Patriotic another 15 days to submit a firm, binding commitment for the Refinery.

Minister Imbert said on February 5th, Patriotic instead submitted an "indicative" proposal outlining two financing options:
1. A Tax Credit Purchase Facility
2. A Receivables Purchase Agreement

The Finance Minister said technocrats in the Ministry pointed out that both options presented challenges, with Government having to finance both options to the tune of $5 billion in the first option, and $6 billion in the second option.

The Finance Minister said their analysis of both options was presented at Cabinet today and it was decided that they could not proceed with this matter with Patriotic since “the burden on the Government was too onerous.”

RFPs will be prepared in the next few weeks, which Cabinet will sign off on it and Trinidad Petroleum will then invite proposals.

Minister Imbert said the matter with Patriotic has been one of the most transparent procurement processes with Press Conferences and Press statements issued every step of the way.

[De Dragon]

Key Points from Post Cabinet Media Briefing – Thursday February 18th 2021:

Government will return to the open market to find another bidder for the Petrotrin Refinery.

Finance Minister Colm Imbert confirmed this as he gave an update on Patriotic's bid for the Refinery at today’s Post Cabinet Media Briefing. The Minister noted that in January, Government had given Patriotic another 15 days to submit a firm, binding commitment for the Refinery.

Minister Imbert said on February 5th, Patriotic instead submitted an "indicative" proposal outlining two financing options:
1. A Tax Credit Purchase Facility
2. A Receivables Purchase Agreement

The Finance Minister said technocrats in the Ministry pointed out that both options presented challenges, with Government having to finance both options to the tune of $5 billion in the first option, and $6 billion in the second option.

The Finance Minister said their analysis of both options was presented at Cabinet today and it was decided that they could not proceed with this matter with Patriotic since “the burden on the Government was too onerous.”

RFPs will be prepared in the next few weeks, which Cabinet will sign off on it and Trinidad Petroleum will then invite proposals.

Minister Imbert said the matter with Patriotic has been one of the most transparent procurement processes with Press Conferences and Press statements issued every step of the way.

But wasn't Patriotic's proposal the "best". What will be different when you put out RFP's again? Has something changed to make a new bidder be interested?
LFDRFD PNM again!

[gastly369]

Ellllll ohhhhhh eelllllleeleleleleel

[Numb3r4]

Why does the government have to still finance anything?

I though the point of all of this was to not have anything to do with the refinery, de-couple the government from it and let it run as a private enterprise, or let the Patriotic do as they see fit.

Wasn't the financing the reason they shut it down in he first place, it was too expensive to run so we don't want anything to do with it. Why are we financing it now? I thought whoever was buying it was to take it off our hands completely.

[sMASH]

Why does the government have to still finance anything?

I though the point of all of this was to not have anything to do with the refinery, de-couple the government from it and let it run as a private enterprise, or let the Patriotic do as they see fit.

Wasn't the financing the reason they shut it down in he first place, it was too expensive to run so we don't want anything to do with it. Why are we financing it now? I thought whoever was buying it was to take it off our hands completely.

this govt have multiple personality disorder and bipolar, with dementia.

[De Dragon]

Why does the government have to still finance anything?

I though the point of all of this was to not have anything to do with the refinery, de-couple the government from it and let it run as a private enterprise, or let the Patriotic do as they see fit.

Wasn't the financing the reason they shut it down in he first place, it was too expensive to run so we don't want anything to do with it. Why are we financing it now? I thought whoever was buying it was to take it off our hands completely.

this govt have multiple personality disorder and bipolar, with dementia.

Not really, more like incompetent, arrogant, corrupt and dotish.

[Redman]

The unions financing was in place then it wasn't..then no one knows.
And yes the regional fuel market is different to 2017 2018

[daxt0r]

again those with asses up Rowley cax for second time, When will the gas prices be floated as promised?
Also any idea when 2019 tax returns for us taxpayers will be processed given the gimme gimme, contracts and freeness that going on for non-tax paying URP/CEPEP/Gangster PNM supporters?
This was promised since last year budget to be implemented by end of January, is this one of those thing like good governance and diversification promised since 1962 and never to be realized?

[toyolink]

Any hope of employment opportunities resulting from refinery operations seems to be dead.
At this point what was initially described as a hopeful proposal has proven to be lacking money to pay.
I really felt the Patriotic efforts were backed by some serious financing assurances.
Maybe Guyana could be encouraged to 'make a deal'.

[De Dragon]

Any hope of employment opportunities resulting from refinery operations seems to be dead.
At this point what was initially described as a hopeful proposal has proven to be lacking money to pay.
I really felt the Patriotic efforts were backed by some serious financing assurances.
Maybe Guyana could be encouraged to 'make a deal'.

LF,D! RF,D! PNMMMMMMMMMMM
Imagine you can't run it, can't get someone in the local private sector to run it, and can't even sell it.
I suspect if these morons tried to facking give it away they'd fack that up too

[sMASH]

Any hope of employment opportunities resulting from refinery operations seems to be dead.
At this point what was initially described as a hopeful proposal has proven to be lacking money to pay.
I really felt the Patriotic efforts were backed by some serious financing assurances.
Maybe Guyana could be encouraged to 'make a deal'.

LF,D! RF,D! PNMMMMMMMMMMM
Imagine you can't run it, can't get someone in the local private sector to run it, and can't even sell it.
I suspect if these morons tried to facking give it away they'd fack that up too

It's significantly encumbered, as long as the clock ticks, its racking up debt. Unless gortt pays it, or the other petrotrin parts pay it.


'mber, the best 3 offers were roget, someone wanting it free, and another want to pay small terms untill it pick up eventually.
Nobody want buy a debt center

[Habit7]

Once again, well-informed commentary!

It's significantly encumbered, as long as the clock ticks, its racking up debt. Unless gortt pays it, or the other petrotrin parts pay it.

Khan was also pleased that Heritage has paid government taxes and royalties of $821 million over the last ten months, funded $193 million in capital expenditure and “most importantly, they have serviced all of Petrotrin’s legacy debts.” He added that “all of this was done with an entirely local staff.”
https://newsday.co.tt/2020/04/29/khan-h ... -heritage/

If you don't know, just be quiet nah.

[De Dragon]

Once again, well-informed commentary!

It's significantly encumbered, as long as the clock ticks, its racking up debt. Unless gortt pays it, or the other petrotrin parts pay it.

Khan was also pleased that Heritage has paid government taxes and royalties of $821 million over the last ten months, funded $193 million in capital expenditure and “most importantly, they have serviced all of Petrotrin’s legacy debts.” He added that “all of this was done with an entirely local staff.”
https://newsday.co.tt/2020/04/29/khan-h ... -heritage/

If you don't know, just be quiet nah.

Khan said? If Goebbels had said it, we might have paid more attention
Also, you do know that "serviced" doesn't mean paid off right P2?

[sMASH]

ThE rEfInErY. U know, the mortgage Kamala buss mark with. The one already read out in parliament, the one nobody want to accept...
On the REFINERY.

Once again, well-informed commentary!

It's significantly encumbered, as long as the clock ticks, its racking up debt. Unless gortt pays it, or the other petrotrin parts pay it.

Khan was also pleased that Heritage has paid government taxes and royalties of $821 million over the last ten months, funded $193 million in capital expenditure and “most importantly, they have serviced all of Petrotrin’s legacy debts.” He added that “all of this was done with an entirely local staff.”
https://newsday.co.tt/2020/04/29/khan-h ... -heritage/

If you don't know, just be quiet nah.

[Habit7]

ThE rEfInErY. U know, the mortgage Kamala buss mark with. The one already read out in parliament, the one nobody want to accept...
On the REFINERY.

It is not a mortgage, T&T owns the refinery.
It is a lien that was put on the refinery that was security for a loan.
It was no mark that buss, it was information available from since a year before.
It is not racking up debt, the debt is being serviced by the profitable subsidiaries.

This is getting tiring, is it that you want to lie without being challenged?

[De Dragon]

ThE rEfInErY. U know, the mortgage Kamala buss mark with. The one already read out in parliament, the one nobody want to accept...
On the REFINERY.

It is not a mortgage, T&T owns the refinery.
It is a lien that was put on the refinery that was security for a loan.
It was no mark that buss, it was information available from since a year before.
It is not racking up debt, the debt is being serviced by the profitable subsidiaries.

This is getting tiring, is it that you want to lie without being challenged?

It matters not what you call it, the lien adds another unattractive quality to the refinery. Two years down the drain, two more years to find another buyer and close a deal will add depreciation and start-up costs to the refinery. There may be a time when we have two options alone, restart it, or leave it to rotten forever.

[Numb3r4]

Well what now? Will Patriotic get another chance or are we "for real" about going to the open market?

[Redman]

ThE rEfInErY. U know, the mortgage Kamala buss mark with. The one already read out in parliament, the one nobody want to accept...
On the REFINERY.

It is not a mortgage, T&T owns the refinery.
It is a lien that was put on the refinery that was security for a loan.
It was no mark that buss, it was information available from since a year before.
It is not racking up debt, the debt is being serviced by the profitable subsidiaries.

This is getting tiring, is it that you want to lie without being challenged?

Now you getting it.

[De Dragon]

ThE rEfInErY. U know, the mortgage Kamala buss mark with. The one already read out in parliament, the one nobody want to accept...
On the REFINERY.

It is not a mortgage, T&T owns the refinery.
It is a lien that was put on the refinery that was security for a loan.
It was no mark that buss, it was information available from since a year before.
It is not racking up debt, the debt is being serviced by the profitable subsidiaries.

This is getting tiring, is it that you want to lie without being challenged?

Now you getting it.

sMASH get a 2 PantyMan for the price of one special...................

[sMASH]

when yuh buying land, they ask if is free hold. free hold meaning it not used as colateral or its fully paid out for, no money owing on it. the refinery, as kamala said, and as imburt said, is NOT free hold.
nobody want that amount of stress.

the best ting for govt to do, is incorporate it, float it under nel or ngc or sumting, talk to an operations company to staff it, then post it on the stock exchange. if they raise enough capital, they start up. if they dont, then party done. that way, they get money to start up, people get chance to invest PATRIOTICALLY, the debt doenst impede the progress, u get motivation to be streamlined, andthe govt retain a source of money.

if rowley dem tell the truth, it will buss and every body lose they money. if they lie, it will make and we all benefit.

[Redman]

Smash..Would you put a real chunk of your money into that venture?

You've gone from running it like CEPEP to raising capital on the market.

Transfer the risk to the public.
Secured how?


Brilliant.

[The_Honourable]

President General responds to refinery announcement