We have fuel for 20 days after Petrotrin refinery closed - Khan

[Musical Doc]

:agrue:

Those fellas know fuel has a very low price elasticity of demand (i.e. they could jack up the price and jackarse Trinis go still pay for it) because on average locals cannot do without their cars.

The thinking must be: "Rape them until they riot."...

Very much so...
Trinis don't knw how/when to say NO/ENOUGH IZ ENOUGH...!!!
Ething izza shrug shoulder, party n lime attitude...

Well let we do something nah! I say blow up parliament! Who in?

Now is a good time for Abu Bakr to shake up d scene lol

[hydroep]

:agrue:

Those fellas know fuel has a very low price elasticity of demand (i.e. they could jack up the price and jackarse Trinis go still pay for it) because on average locals cannot do without their cars.

The thinking must be: "Rape them until they riot."...

Very much so...
Trinis don't knw how/when to say NO/ENOUGH IZ ENOUGH...!!!
Ething izza shrug shoulder, party n lime attitude...

Well let we do something nah! I say blow up parliament! Who in?

Nah, dat go scatter sh!t all over the country...de place done stink enough as it is...

[The_Honourable]

Espinet: No fuel shortage after refinery closure



Petrotrin chair­man Wil­fred Es­pinet is as­sur­ing there are ad­e­quate fu­el sup­plies to meet the needs of the pop­u­la­tion and there is no need to pan­ic. The Petrotrin re­fin­ery, he said, will con­tin­ue to pro­duce for some time yet and in ad­di­tion, he said short-term arrange­ments will be en­tered in­to to en­sure con­ti­nu­ity in sup­plies.

Speak­ing to the T&T Guardian on the is­sue yes­ter­day, Es­pinet as­sured there is no mad scram­ble to find a sup­pli­er for fu­el when the Petrotrin re­fin­ery is shut down.

He said, “We have 42 sup­pli­ers to Petrotrin, we have nar­rowed it down to 13. We have gone out to them to do it on a short-term arrange­ment while we con­tin­ue to de­vel­op a longer term re­la­tion­ship, so there is no ques­tion about sup­ply.”

On Wednes­day, En­er­gy Min­is­ter Franklin Khan told Par­lia­ment that there will be a 20-day fu­el sup­ply from the date of the clo­sure of the re­fin­ery.

“The re­fin­ery will be closed on a phased ba­sis dur­ing the month of Oc­to­ber. Up­on its clo­sure there will be a twen­ty day sup­ply of fu­els from stock to start with,” Khan said.

Khan sought to as­sure there will be no dis­rup­tion in sup­ply, adding steps were be­ing put in place for the im­por­ta­tion of sup­plies from in­ter­na­tion­al traders.

“Re­quests for pro­pos­als from 13 rep­utable in­ter­na­tion­al sup­pli­ers are cur­rent­ly out, we don’t fore­cast any dis­rup­tion in the sup­ply to the trav­el­ling pub­lic,” Khan said.

Yes­ter­day, Es­pinet said the 20-day sup­ply will be twice what the com­pa­ny nor­mal­ly has in stock.

“So for in­for­ma­tion pur­pos­es, there will be dou­ble the sup­ply that is nor­mal in the mar­ket. Petrotrin nor­mal­ly keeps a ten-day sup­ply, so we are step­ping it up to twen­ty days,” he said.

Es­pinet said it is not new for Petrotrin to be im­port­ing fu­el.

“Let me make it clear to you, Petrotrin has in the past im­port­ed fu­el in­to the coun­try sev­er­al times and that hap­pens when you have a prob­lem with the plant and can­not meet sup­ply.”

He al­so said there is ready ac­cess to fu­el.

“Every sin­gle de­tail has been worked out on this al­ready, so don’t go scar­ing the peo­ple. The scare-mon­ger­ing is not worth it.”

Es­pinet al­so as­sured that “there is no mad scram­ble, there is no need to be con­cerned, there are ad­e­quate stocks on hand.”

He said al­though the tran­si­tion be­gins on Oc­to­ber first the re­fin­ery will still be pro­duc­ing fu­el, “and even if there is a dis­rup­tion we have things in place to cov­er dis­rup­tions.”

En­er­gy Ex­pert An­tho­ny Paul al­so told the T&T Guardian there is no need to wor­ry about the 20-day fu­el sup­ply. “Twen­ty days is a num­ber, you could have a tanker come in and bring prod­uct. So if you have enough stor­age you can have a tanker com­ing and fill­ing every 15 days or so. That is not nec­es­sar­i­ly a prob­lem.”

In any event, he said Petrotrin will con­tin­ue to pro­duce fu­el for some time.

“So they have two to three months to put con­tracts in place for the sup­ply of prod­uct and en­sure that sup­plies are topped up, I am not wor­ried about that.”

His con­cern, he said, is the pro­cure­ment process.

“Who gets the li­cence? Li­cens­ing is where the over­sight comes in. Un­der the law, these sup­pli­ers are meant to be li­cenced.”

How­ev­er, he said the Min­istry of En­er­gy does not have a li­cens­ing regime.

“It is no­to­ri­ous in not li­cens­ing any­body.”

Paul said while the Pub­lic Pro­cure­ment Act is not yet ful­ly pro­claimed and im­ple­ment­ed “I wor­ry at how the pro­cure­ment rules tend to be ig­nored by the Gov­ern­ment. The Cen­tral Ten­ders’ Board Act still ap­plies.”

Pe­tro­le­um deal­ers are ex­pect­ed to meet to­day to dis­cuss is­sues which arise with the clo­sure of the re­fin­ery and the im­por­ta­tion of fu­el.

Cur­rent­ly, deal­ers get 17 cents on every litre of su­per gaso­line sold and 14 cents on diesel and reg­u­lar gaso­line. They are un­cer­tain whether their mar­gins will change when the coun­try starts im­port­ing fu­el.

Speak­ing to the T&T Guardian, Pe­tro­le­um Deal­ers’ As­so­ci­a­tion pres­i­dent Ra­bindranath Narayns­ingh said, “The in­dus­try is con­trolled by the Min­istry of En­er­gy. The Min­is­ter, in con­sul­ta­tion with the Min­is­ter of Fi­nance, has the sole pre­rog­a­tive to set the price.”

Up to yes­ter­day, he said there had been no dis­cus­sion with the deal­ers on any of the is­sues which need to be ad­dressed.

Narayns­ingh said af­ter the deal­ers meet they will speak with the me­dia on some ideas they have and some of the con­cerns which need to be ad­dressed.

Source: http://www.cnc3.co.tt/press-release/esp ... ry-closure

[No_Name]

:agrue:

Those fellas know fuel has a very low price elasticity of demand (i.e. they could jack up the price and jackarse Trinis go still pay for it) because on average locals cannot do without their cars.

The thinking must be: "Rape them until they riot."...

Very much so...
Trinis don't knw how/when to say NO/ENOUGH IZ ENOUGH...!!!
Ething izza shrug shoulder, party n lime attitude...

Well let we do something nah! I say blow up parliament! Who in?

Now is a good time for Abu Bakr to shake up d scene lol

Whilst Parliament is in session off course, Growley be d fuss to sample...

[88sins]

Espinet: No fuel shortage after refinery closure



Petrotrin chair­man Wil­fred Es­pinet is as­sur­ing there are ad­e­quate fu­el sup­plies to meet the needs of the pop­u­la­tion and there is no need to pan­ic. The Petrotrin re­fin­ery, he said, will con­tin­ue to pro­duce for some time yet and in ad­di­tion, he said short-term arrange­ments will be en­tered in­to to en­sure con­ti­nu­ity in sup­plies.

Speak­ing to the T&T Guardian on the is­sue yes­ter­day, Es­pinet as­sured there is no mad scram­ble to find a sup­pli­er for fu­el when the Petrotrin re­fin­ery is shut down.

He said, “We have 42 sup­pli­ers to Petrotrin, we have nar­rowed it down to 13. We have gone out to them to do it on a short-term arrange­ment while we con­tin­ue to de­vel­op a longer term re­la­tion­ship, so there is no ques­tion about sup­ply.”

On Wednes­day, En­er­gy Min­is­ter Franklin Khan told Par­lia­ment that there will be a 20-day fu­el sup­ply from the date of the clo­sure of the re­fin­ery.

“The re­fin­ery will be closed on a phased ba­sis dur­ing the month of Oc­to­ber. Up­on its clo­sure there will be a twen­ty day sup­ply of fu­els from stock to start with,” Khan said.

Khan sought to as­sure there will be no dis­rup­tion in sup­ply, adding steps were be­ing put in place for the im­por­ta­tion of sup­plies from in­ter­na­tion­al traders.

“Re­quests for pro­pos­als from 13 rep­utable in­ter­na­tion­al sup­pli­ers are cur­rent­ly out, we don’t fore­cast any dis­rup­tion in the sup­ply to the trav­el­ling pub­lic,” Khan said.

Yes­ter­day, Es­pinet said the 20-day sup­ply will be twice what the com­pa­ny nor­mal­ly has in stock.

“So for in­for­ma­tion pur­pos­es, there will be dou­ble the sup­ply that is nor­mal in the mar­ket. Petrotrin nor­mal­ly keeps a ten-day sup­ply, so we are step­ping it up to twen­ty days,” he said.

Es­pinet said it is not new for Petrotrin to be im­port­ing fu­el.

“Let me make it clear to you, Petrotrin has in the past im­port­ed fu­el in­to the coun­try sev­er­al times and that hap­pens when you have a prob­lem with the plant and can­not meet sup­ply.”

He al­so said there is ready ac­cess to fu­el.

“Every sin­gle de­tail has been worked out on this al­ready, so don’t go scar­ing the peo­ple. The scare-mon­ger­ing is not worth it.”

Es­pinet al­so as­sured that “there is no mad scram­ble, there is no need to be con­cerned, there are ad­e­quate stocks on hand.”

He said al­though the tran­si­tion be­gins on Oc­to­ber first the re­fin­ery will still be pro­duc­ing fu­el, “and even if there is a dis­rup­tion we have things in place to cov­er dis­rup­tions.”

En­er­gy Ex­pert An­tho­ny Paul al­so told the T&T Guardian there is no need to wor­ry about the 20-day fu­el sup­ply. “Twen­ty days is a num­ber, you could have a tanker come in and bring prod­uct. So if you have enough stor­age you can have a tanker com­ing and fill­ing every 15 days or so. That is not nec­es­sar­i­ly a prob­lem.”

In any event, he said Petrotrin will con­tin­ue to pro­duce fu­el for some time.

“So they have two to three months to put con­tracts in place for the sup­ply of prod­uct and en­sure that sup­plies are topped up, I am not wor­ried about that.”

His con­cern, he said, is the pro­cure­ment process.

“Who gets the li­cence? Li­cens­ing is where the over­sight comes in. Un­der the law, these sup­pli­ers are meant to be li­cenced.”

How­ev­er, he said the Min­istry of En­er­gy does not have a li­cens­ing regime.

“It is no­to­ri­ous in not li­cens­ing any­body.”

Paul said while the Pub­lic Pro­cure­ment Act is not yet ful­ly pro­claimed and im­ple­ment­ed “I wor­ry at how the pro­cure­ment rules tend to be ig­nored by the Gov­ern­ment. The Cen­tral Ten­ders’ Board Act still ap­plies.”

Pe­tro­le­um deal­ers are ex­pect­ed to meet to­day to dis­cuss is­sues which arise with the clo­sure of the re­fin­ery and the im­por­ta­tion of fu­el.

Cur­rent­ly, deal­ers get 17 cents on every litre of su­per gaso­line sold and 14 cents on diesel and reg­u­lar gaso­line. They are un­cer­tain whether their mar­gins will change when the coun­try starts im­port­ing fu­el.

Speak­ing to the T&T Guardian, Pe­tro­le­um Deal­ers’ As­so­ci­a­tion pres­i­dent Ra­bindranath Narayns­ingh said, “The in­dus­try is con­trolled by the Min­istry of En­er­gy. The Min­is­ter, in con­sul­ta­tion with the Min­is­ter of Fi­nance, has the sole pre­rog­a­tive to set the price.”

Up to yes­ter­day, he said there had been no dis­cus­sion with the deal­ers on any of the is­sues which need to be ad­dressed.

Narayns­ingh said af­ter the deal­ers meet they will speak with the me­dia on some ideas they have and some of the con­cerns which need to be ad­dressed.

Source: http://www.cnc3.co.tt/press-release/esp ... ry-closure

& how we paying for this imported fuel with our ongoing forex shortage? these companies taking payment in coconut & thank yous? & how long can we maintain paying for all our fuel, & at what cost to our economy? They keep saying they want to reduce the import bill, they feel importing 100% of our fuel at this time go help?

Espinet studying his concerns is "procurement", that is literally the first step & he expecting/concerned about problems in this, what that tellin allyuh about what to expect down d road?

[Redman]

Probably the same procurement as existed when Petrotrin imported fuels previous ly

Same buyers market....it's very competitive

[streetbeastINC.]

Hope electricity supply is not affected.......

[hydroep]

Might finally get a chance to use me generator...

[Mr President]

& how we paying for this imported fuel with our ongoing forex shortage?

From the millions of US saved by not operating an unprofitable refinery and from the profits of whatsoever new entity

[88sins]

& how we paying for this imported fuel with our ongoing forex shortage?

From the millions of US saved by not operating an unprofitable refinery and from the profits of whatsoever new entity

interesting idea, except for the fact that neither the new entity nor it's profits are currently in existence, & there is no projected timeline for this wonderful "new entity" to come on stream, or even what it would be, much less it's profitability

[Cantmis]

Hope electricity supply is not affected.......

Natural gas turbines

[matr1x]

Finally have to hire professor from Gilligan's island to she us how to make power from coconuts and vine

[airuma]

"We have 42 sup­pli­ers to Petrotrin, we have nar­rowed it down to 13. We have gone out to them to do it on a short-term arrange­ment while we con­tin­ue to de­vel­op a longer term re­la­tion­ship"

1. Is there any good reason that our Energy Minister could not have said this?
2. Is it normal for the GoRTT to engage so many suppliers (42) for the same thing?
3. If there is a problem with the fuel from one of the supplier, how can they isolate which one?

I wish they would apply this same rational wrt service providers so that other local companies can get a "piece of the pie", rather than the party financiers getting the contracts and then sub contracting!

[Redman]

1. Cuz Petrotrin have a board? And a chairman...dais his job....if it ballz up...he takes the heat

2) No.....but quite normal for Petrotrin

3).. Fuel landed here should be tested and certified as is normal.The testing would occur at the point where custody is transferred, from buyer to seller.
Fuel also carries markers....so where multiple sources are used....you can theoretically be able to id the source.

And any one who can supply 25000 BPD is a party financier.

[K_J_R]

here's a thought

will the govt still purchase two grades of gaosline? or will it be only 1 which might be to save money?

and if its a lower octane they buy, then all them ppl who have turbo or german cars going to see pressure then.

[novastar1]

here's a thought

will the govt still purchase two grades of gaosline? or will it be only 1 which might be to save money?

and if its a lower octane they buy, then all them ppl who have turbo or german cars going to see pressure then.

More likely to import premium only at this rate

[car]

here's a thought

will the govt still purchase two grades of gaosline? or will it be only 1 which might be to save money?

and if its a lower octane they buy, then all them ppl who have turbo or german cars going to see pressure then.

The 1% uses premium(95) in their vehicles so premium is guaranteed to be imported.

The question is if they decide to bring 89 or even 87 instead of the 92 and say most cars will still run on this.
Men that need premium and usually get away with super will not be able too.

[airuma]

1. Cuz Petrotrin have a board? And a chairman...dais his job....if it ballz up...he takes the heat

2) No.....but quite normal for Petrotrin

3).. Fuel landed here should be tested and certified as is normal.The testing would occur at the point where custody is transferred, from buyer to seller.
Fuel also carries markers....so where multiple sources are used....you can theoretically be able to id the source.

And any one who can supply 25000 BPD is a party financier.

If 1. is true, then
a) am I to assume that petrotrin is handling the importation of fuel rather than the ministry of energy?
b) why didn't our Minister of Energy say "that is a question for the chairman of the board of petrotrin to answer" just like he did with the price of fuel, clearly he was not prepared to make a sensible contribution on the matter!
for 3) do you mean from seller to buyer?
"Fuel also carries markers", therefore we have 42 storage tanks or a really good "just in time" system in place to ensure that the sources do not mix to preserve the ID?

[Redman]

1a)you're free to assume anything you like.Theyve clearly stated that Petrotrin will stay in the Marketing of fuels.If they out of the R part of R and M...then they have to import.

B)you're asking why a minister did or did not say something?

3)Yes

C or4) They don't have to import from all 42 at the same time.
Do you watch all your cable channels at the same time?
How do you buy gas...a little from every gas station you've ever bought at?
Or the one that has what you want ...when you and how you want it.?

[supernedd]

At least if Petrotrin ain’t gonna make the sh1t quality diesel again, we might finally get a high quality diesel with much lower sulphuric levels so that our common rail diesels won’t continue to mash up again.
Ah hear Aurdi, vw AND bimmer all planning to start bringing diesel vehicles again if we getting imported fuel.

first thing came to my mind .. hope d price dont increase . now d only thing we could blame is them dotish mechanics who mashing up our vans

[supernedd]

Those fellas know fuel has a very low price elasticity of demand (i.e. they could jack up the price and jackarse Trinis go still pay for it) because on average locals cannot do without their cars.

The thinking must be: "Rape them until they riot."...

Trinidad dont riot .. we only come together to party .. not protest

[supernedd]

this country sickening yes
to be honest .. leh we say diesel reach a 7$ liter .. i wont mind owning a van still.. cause it fuel efficient n dont burn as fast as gas .. once we get the best quality diesel .. i doh mind hybrid either.. but u know trinis mechanics n new tech .. u come out better watchin a YouTube video n fixin your own vehicle yourself

[hydroep]

Those fellas know fuel has a very low price elasticity of demand (i.e. they could jack up the price and jackarse Trinis go still pay for it) because on average locals cannot do without their cars.

The thinking must be: "Rape them until they riot."...

Trinidad dont riot .. we only come together to party .. not protest

That's why politicians like T&T, people here does only talk and pray. The "protest" does come when is time to vote...

[supernedd]

Those fellas know fuel has a very low price elasticity of demand (i.e. they could jack up the price and jackarse Trinis go still pay for it) because on average locals cannot do without their cars.

The thinking must be: "Rape them until they riot."...

Trinidad dont riot .. we only come together to party .. not protest

That's why politicians like T&T, people here does only talk and pray. The "protest" does come when is time to vote...

yup white collar crime . businessmen n politicians luv Trinidad.. we does jus quarrel on social media n still take shaft with no grease

[Joshie23]

first thing came to my mind .. hope d price dont increase . now d only thing we could blame is them dotish mechanics who mashing up our vans

Lol, wishful thinking, yes. Do some research on why diesel is more expensive than gasoline internationally; diesel prices might actually fluctuate more than gasoline if they allow the cost to float with international market prices.

1. Cuz Petrotrin have a board? And a chairman...dais his job....if it ballz up...he takes the heat

2) No.....but quite normal for Petrotrin

3).. Fuel landed here should be tested and certified as is normal.The testing would occur at the point where custody is transferred, from buyer to seller.
Fuel also carries markers....so where multiple sources are used....you can theoretically be able to id the source.

And any one who can supply 25000 BPD is a party financier.

Or, someone that has strong ties with or that even owns a shipping company.

[car]

first thing came to my mind .. hope d price dont increase . now d only thing we could blame is them dotish mechanics who mashing up our vans

Lol, wishful thinking, yes. Do some research on why diesel is more expensive than gasoline internationally; diesel prices might actually fluctuate more than gasoline if they allow the cost to float with international market prices.

1. Cuz Petrotrin have a board? And a chairman...dais his job....if it ballz up...he takes the heat

2) No.....but quite normal for Petrotrin

3).. Fuel landed here should be tested and certified as is normal.The testing would occur at the point where custody is transferred, from buyer to seller.
Fuel also carries markers....so where multiple sources are used....you can theoretically be able to id the source.

And any one who can supply 25000 BPD is a party financier.

Or, someone that has strong ties with or that even owns a shipping company.

You mean diesel to fluctuate upwards only. Changing the price on the pumps is still a manual ting where a technician has to go to each pump and make adjustments to the price per liter. You really think when the price drops they going to send out a man to make adjustments? Extra profits for them and we pay for it.

[88sins]

when last you see the price of a major commodity go down after an increase?
nothing adjusts downward in dis place, whether costs or international prices drop or not. only upward movement. because here, if the price goes up ppl complain amongst themselves and keep on buying, and eventually shut up.

remember when there was a wheat shortage due to drought some years ago? all flour and flour based products went up. Nobody say they would absorb it and hold off on increasing their prices. The prices of wheat have since gone back down to pre-drought levels. Take note, the price of bread remained where it reached.

[Cantmis]

...

[bluefete]

^^ Approx TT$14.35 per litre for premium and diesel at those rates (assuming that is US$, if it is dinars however .....)

[bluefete]

When Tantie Kams was in office, price used to go down an' t'ing. Remember fuh Divali how she used to tell NFL to drop dey prices or else ...?

when last you see the price of a major commodity go down after an increase?
nothing adjusts downward in dis place, whether costs or international prices drop or not. only upward movement. because here, if the price goes up ppl complain amongst themselves and keep on buying, and eventually shut up.

remember when there was a wheat shortage due to drought some years ago? all flour and flour based products went up. Nobody say they would absorb it and hold off on increasing their prices. The prices of wheat have since gone back down to pre-drought levels. Take note, the price of bread remained where it reached.