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wing wrote:The only option is a supply from Guyana. At market prices, for any potential buyer to operate at good margins, the staffing will have to be very lean and cash flows tightly controlled. Doesn't look good for Roget if it ever materializes. Maybe that's why they hiding under Kamla skirt.
I thought Guyana building a refinery?Habit7 wrote:wing wrote:The only option is a supply from Guyana. At market prices, for any potential buyer to operate at good margins, the staffing will have to be very lean and cash flows tightly controlled. Doesn't look good for Roget if it ever materializes. Maybe that's why they hiding under Kamla skirt.
Guyana don't want to hear about Trinidad's refinery. Guyana is selling their share of Exxon's oil on the open market to the highest bidder. To sell to TT would mean a loss of potential profits. They don't want to buy the refinery because they have no experience in running a refinery esp one that failed twice.
Refineries are closing all over the world and the existing ones are becoming more efficient. Rowley is trying to sell the country dreams about somebody buying the refinery soon. And any other politician promising to reopen the refinery is just as deceptive.
It is true many refineries are closing, most due to the same issues that ours faced. However, there are still markets in the Caribbean and beyond that any prospective bidder would have considered before coming here. Point to note, the largest refinery in Africa was just commissioned last month in Nigeria. Many of the upgrades in the refinery such as the CCR, FCCU, ALKY ACID and UTILITIES are basically new plants not to mention the ULSD plant which may have hope of rehabilitation. It will take huge sums to get it going and run as a lean business. As long as the government stays out, there is a chance of success.Habit7 wrote:wing wrote:The only option is a supply from Guyana. At market prices, for any potential buyer to operate at good margins, the staffing will have to be very lean and cash flows tightly controlled. Doesn't look good for Roget if it ever materializes. Maybe that's why they hiding under Kamla skirt.
Guyana don't want to hear about Trinidad's refinery. Guyana is selling their share of Exxon's oil on the open market to the highest bidder. To sell to TT would mean a loss of potential profits. They don't want to buy the refinery because they have no experience in running a refinery esp one that failed twice.
Refineries are closing all over the world and the existing ones are becoming more efficient. Rowley is trying to sell the country dreams about somebody buying the refinery soon. And any other politician promising to reopen the refinery is just as deceptive.
nervewrecker wrote:I thought Guyana building a refinery?
The benefit of Nigeria is that they have endless crude and don't need to import it, unlike the Caribbean refineries. They have the raw materials and the market in one country. The Caribbean has to import the raw materials and export the products to the market. More middlemen, less profit.wing wrote:It is true many refineries are closing, most due to the same issues that ours faced. However, there are still markets in the Caribbean and beyond that any prospective bidder would have considered before coming here. Point to note, the largest refinery in Africa was just commissioned last month in Nigeria. Many of the upgrades in the refinery such as the CCR, FCCU, ALKY ACID and UTILITIES are basically new plants not to mention the ULSD plant which may have hope of rehabilitation. It will take huge sums to get it going and run as a lean business. As long as the government stays out, there is a chance of success.
Anyone who is visiting for a site visit obviously has an economic way to acquire crude as well as a market to sell products. Unless of course is to buy it for scrap.Habit7 wrote:nervewrecker wrote:I thought Guyana building a refinery?
yes they are looking to build a small refinery like 30K barrels/day, not as large as ours. Enough for local consumption of products and a little extra for export. But just like their gas to electricity plans, it is mixed up in confusion and yet to get off the ground.The benefit of Nigeria is that they have endless crude and don't need to import it, unlike the Caribbean refineries. They have the raw materials and the market in one country. The Caribbean has to import the raw materials and export the products to the market. More middlemen, less profit.wing wrote:It is true many refineries are closing, most due to the same issues that ours faced. However, there are still markets in the Caribbean and beyond that any prospective bidder would have considered before coming here. Point to note, the largest refinery in Africa was just commissioned last month in Nigeria. Many of the upgrades in the refinery such as the CCR, FCCU, ALKY ACID and UTILITIES are basically new plants not to mention the ULSD plant which may have hope of rehabilitation. It will take huge sums to get it going and run as a lean business. As long as the government stays out, there is a chance of success.
We have to understand we are biased toward PaP because it is ours and we have a nostalgic attachment to it. But as an unbiased international investor, PaP is a wildcard with better investment prospects elsewhere.
pugboy wrote:what’s latest with dead divers report and millions spent for coe?
wha bout the oil spill barge?
Surinam building something too? The company with the grocery chain have men there but it slipped my mind to ask what they doing.Habit7 wrote:nervewrecker wrote:I thought Guyana building a refinery?
yes they are looking to build a small refinery like 30K barrels/day, not as large as ours. Enough for local consumption of products and a little extra for export. But just like their gas to electricity plans, it is mixed up in confusion and yet to get off the ground.The benefit of Nigeria is that they have endless crude and don't need to import it, unlike the Caribbean refineries. They have the raw materials and the market in one country. The Caribbean has to import the raw materials and export the products to the market. More middlemen, less profit.wing wrote:It is true many refineries are closing, most due to the same issues that ours faced. However, there are still markets in the Caribbean and beyond that any prospective bidder would have considered before coming here. Point to note, the largest refinery in Africa was just commissioned last month in Nigeria. Many of the upgrades in the refinery such as the CCR, FCCU, ALKY ACID and UTILITIES are basically new plants not to mention the ULSD plant which may have hope of rehabilitation. It will take huge sums to get it going and run as a lean business. As long as the government stays out, there is a chance of success.
We have to understand we are biased toward PaP because it is ours and we have a nostalgic attachment to it. But as an unbiased international investor, PaP is a wildcard with better investment prospects elsewhere.
nervewrecker wrote:Surinam building something too? The company with the grocery chain have men there but it slipped my mind to ask what they doing.
sMASH wrote:Espinet got the refinery profitable in the lead up to the closure even with the staffing bloat
The problem was. The Malcom Jones wgtl loan bullet payment.
Even when thy had to buy crude to make up the production runs, it was still a wise venture to cause u bought crude at crude prices and sold the products at distilled prices.
That brought in much needed forex, and kept a lot of people employed, and who in turn sustained a lot of micro economics.
The problem with selling the refinery is they want to saddle the buyer with the Malcom Jones debt.
Every body want to buy the refinery, but not that debt.
Cause the refinery was a good business.
The_Honourable wrote:I don't think the Malcom jones debt comes with the refinery if sold. Profits from Heritage is already servicing that debt and other outstanding petrotrin related debts.
Stand to be corrected tho.
Imbert said many people have asked the question: If the refinery was unprofitable over the years, why should anybody believe that a new entity can make it profitable.
“There is a simple answer to that. The refinery was saddled with huge debt, billions of dollars of debt. Any person taking over the refinery now will not have to carry that debt, which was a tremendous drain on the revenue being derived from the refinery. The refinery is going forward debt free.
https://trinidadexpress.com/news/local/ ... f.amp.html
Might be the best option nowwing wrote:Scrap iron
Since 2021sMASH wrote:Might be the best option nowwing wrote:Scrap iron