Petrotrin refinery shut down

[The_Honourable]

woah gad... when you not sure about getting the refinery...

Roget attacks media



Joint Trade Union Movement (JTUM) president Ancel Roget turned on the press on Tuesday morning, calling editors “house n----rs.”

At a media conference at Paramount Building on Circular Road in San Fernando Roget lashed out at reporting on trade unions.

Outstanding wage negotiations were the topic of the press conference, but Roget highlighed the reporting styles of several media houses in reference to the matter.

He said, “I want to make the point for those editors, those house n----rs who scribe for the one per cent. I, as the president of JTUM, am not calling for more money or being unreasonable.

“Any self-respecting editor who is not in the hands or at the behest of their one per cent or their modern-day slavemaster would agree with this position, that he is also treated as a worker.”

Roget also said media houses portrayed the union as only raising issues at election time, when in fact the issues had been on the table for deliberations with the relevant agencies for a while.

He said, “Even though you (media) would carry out the dictates for the local, modern-day massas and write against the trade union movement, I want to remind you house n----rs in the Guardian, Express and Newsday we have been raising these issues all of the time.”

Media Association (MATT) president Dr Sheila Rampersad said Roget's statements showed weak leadership from a person who was supposed to be representing the working class.

“It is an egregious example of infantile leadership to attack a free press that has represented the voice of workers throughout the history of media in TT.

"This is silly season, not open season on journalists. Leaders seem incapable of emancipating themselves from narrow ideologies and limited vocabularies.

"A similar matter involving our member Kejan Haynes is currently before the Equal Opportunity Commission (EOC).”

MATT said it was actively exploring the possibility of filing a similar complaint against Roget on behalf of its members.

Newsday editor in chief Judy Raymond said the paper reports regularly and often on issues that trade unions choose to raise publicly.

"If he disagrees with the way we do so, I am sure Mr Roget is aware that there is a variety of channels through which to discuss that disagreement. Mr Roget is articulate and experienced and can express himself clearly without resorting to racial slurs."

Source: https://newsday.co.tt/2020/08/04/roget-attacks-media/

[zoom rader]

^^^ But he is the Rottweiler lap dog.

You young folk may not know who the Rottweiler is

Ask Bluefete or Rspann dem go tell ya

[Dave]

Advert for rot lol

[Rovin]

oooooh he said d N word ..... ..... i now watching it on tv6 , like he nearly say F too

[zoom rader]

oooooh he said d N word ..... ..... i now watching it on tv6 , like he nearly say F too

He should have used "blank ppl"

My "PNM ppl" is copy righted

[De Dragon]

So Roget called them Rowleys?
I eagerly await the TTRPS (TriniTuner Racist Police Service) led by Commissioner elitecorolla, and ACP Red Plastic Bag to rush in and condemn this language.

[zoom rader]

So Roget called them Rowleys?
I eagerly await the TTRPS (TriniTuner Racist Police Service) led by Commissioner elitecorolla, and ACP Red Plastic Bag to rush in and condemn this language.

Nah dem does only beat up for blank man

[De Dragon]

So Roget called them Rowleys?
I eagerly await the TTRPS (TriniTuner Racist Police Service) led by Commissioner elitecorolla, and ACP Red Plastic Bag to rush in and condemn this language.

Nah dem does only beat up for blank man

Maybe because a blank man said it dey quiet?

[Skanky]

Funny that the day after Granger is removed Roget starts to beatup. Roget deal dead in the water and he acting like a desperate man.

Just click on the link and look at the picture and you will understand.

https://ansamcal.com/news/guyana-open-f ... lls-sabga/

[De Dragon]

Funny that the day after Granger is removed Roget starts to beatup. Roget deal dead in the water and he acting like a desperate man.

Just click on the link and look at the picture and you will understand.

https://ansamcal.com/news/guyana-open-f ... lls-sabga/

Comrade Roget is the worst type of hypocrite.

[The_Honourable]

Roget: PM using refinery as a ruse to get votes



As the government announced it will not be bullied into signing the refinery acquisition agreement before elections, president general of the Oilfield Workers Trade Union (OWTU) Ancel Roget has lashed back at Prime Minister Dr Keith Rowley accusing him of using the refinery as a ruse to get votes.

Speaking at a press conference held at the OWTU’s Paramount headquarters yesterday, Roget said it appeared that the OWTU’s Patriotic Energies and Technologies Limited was being set up and may not get the former Petrotrin’s Pointe-a-Pierre refinery and port from the PNM-led government.

Giving an overview of the negotiations, Roget said they had connected the dots and was now fully confident that the government was acting “with subterfuge and deception.”

Roget said on September 20, the government announced that Patriotic Energies had won the bid beating out 77 competitors. Patriotic was given one month to satisfy a 10 point requirement.

He added the company and its international team of lawyers worked out the technical and financial details and handed over the 10-point requirement ahead of time but it would be four months later on January 15 that the government finally organized a team to begin negotiations.

He said both teams meet on February 19 and in March they did a site visit of the refinery and port.

When COVID-19 hit in March, negotiations were stalled and Roget said there was no meeting in May and June even though Patriotic was eager to meet and close off the deal.

On July 14 the company provided a document for Patriotic to sign but when the lawyers perused it, they realized that it was not in the best interest of the company. Meetings were held on July 15 and July 17.

“There were things in that document that ought not to be there and they wanted us to sign, but we could not sign that. We responded in detail on July 17 and on July 18 there was another meeting and there were six outstanding issues to deal with,” Roget said.

He explained that on July 15 the Prime Minister announced that within days the union will be signing the first phase of the asset purchase agreement. After a marathon session, all six issues were dealt with, Roget said.

“We were engaging and when we saw that we removed some 40 items and narrowed it down to six items we felt that was progress. We spent a marathon session, disposed with all of them and agreed that there was nothing else,” Roget said.

He said the lawyers representing the government refused to draft the final agreement and Patriotic’s team at great expense, drafted the final agreement. However, he said, after this was done, the negotiating team representing the government, raised 22 new issues and has since refused to meet with the Patriotic team until after elections.

“They came back with 22 new other issues because our resolving of the six issues didn’t fit their time table. They felt we will be bogged down by the six major issues before elections so we were given the responsibility to draft the agreement. We had a marathon session from 11 am to 10 pm in Port-of-Spain. When we asked them to draft the final agreement, one of their lawyers said he had a birthday party with his 40-year-old daughter. Another one said his car had to fix in Vistabella. A whole lot of frivolous excuses. Those are the calibre of people that the Prime Minister sent to discuss with us. Its either he sent them on purpose knowing that they are incompetent and can’t close or won’t close off or its either he sent them with instructions to raise frivolous issues while he gives the country false hope,” Roget said.

Having connected the dots, Roget said he was now convinced the entire negotiation was a ruse.

“The Prime Minister hides behind Kamla and says they will make a song and dance if this is closed. He had said in a matter of days on July 15 that the matter will be closed. We have connected the dots and that’s how we feel. We see that it’s all about the votes,” Roget said.

He warned Dr Rowley that their votes were not for sale, noting that the UNC stood a good chance of winning the upcoming general elections.

If the UNC wins, Roget said Patriotic will not get the refinery. He said the company had already invested tens of millions of US dollars and if the deal falls apart, the government will be facing a great legal battle. He noted that Dr Rowley and the PNM was trying to drain the OWTU’s financial reserves so that it could weaken the union.

On Tuesday, Energy Minister Franklyn Khan said the government will not be bullied into signing the deal before the election. He said negotiations will continue after the people go to the polls on August 10.

Source: https://www.cnc3.co.tt/roget-pm-using-r ... get-votes/

[De Dragon]

^^^ And Red Plastic Bag feel these people could run a refinery When they can't wave the union obstructionist, militant stance to see their way, they will fail spectacularly. Then again, we assume that after 3 years, their pockets will not be full enough to the point where they will give back dummies JUHN Scarfy, Guy Smiley and Goebbels Young their depreciated refinery back, with ZERO consequences.

[sMASH]

the bump to the economy with its closure, we needed to avoid that. but we didnt. so not that it IS closed, the point is to get jobs. who ever coming to reopen it, they have to show how profitable it gonna be. cause it not gonna require all the jobs that it had before.

if the govt, can secure some feed stock contracts from guyana, then they can keep it and restart it. but the main reason to have it goin, before, was the jobs. if there is another avenue to get gainful employment for the people, then we should also explore those options.

[De Dragon]

the bump to the economy with its closure, we needed to avoid that. but we didnt. so not that it IS closed, the point is to get jobs. who ever coming to reopen it, they have to show how profitable it gonna be. cause it not gonna require all the jobs that it had before.

if the govt, can secure some feed stock contracts from guyana, then they can keep it and restart it. but the main reason to have it goin, before, was the jobs. if there is another avenue to get gainful employment for the people, then we should also explore those options.

JUHN Scarfy thought by not commenting on Granger's attempted election theft, he'd secure the feedstock. He prolly feeling uneasy becaause an Indo get Prez in Guyana. Expect level "is Kamla" if Guyana blank us and go Aruba, or Venezuela.

[Redman]

^^^ And Red Plastic Bag feel these people could run a refinery When they can't wave the union obstructionist, militant stance to see their way, they will fail spectacularly. Then again, we assume that after 3 years, their pockets will not be full enough to the point where they will give back dummies JUHN Scarfy, Guy Smiley and Goebbels Young their depreciated refinery back, with ZERO consequences.

Maybe they can....Maybe they intend to implement the Lashley report now that they not saddled with 5000 workers and got the GORTT to pay hem off.

-it would be an entirely different thing when money is on the line.
It was Henry Ford who clearly stated that he could push a button and and accountant would come in and tell him what he needed to know to make his decisions.
If they had a financier who was willing-you think that it would not have been on the basis of a justifiable plan??

What do you think would have been the net results if the refinery remained open 2018-now???


Serious Question

[sMASH]

was the bullet payment for malcom jones WGTL paid off, or written off by the creditors?

[De Dragon]

^^^ And Red Plastic Bag feel these people could run a refinery When they can't wave the union obstructionist, militant stance to see their way, they will fail spectacularly. Then again, we assume that after 3 years, their pockets will not be full enough to the point where they will give back dummies JUHN Scarfy, Guy Smiley and Goebbels Young their depreciated refinery back, with ZERO consequences.

Maybe they can....Maybe they intend to implement the Lashley report now that they not saddled with 5000 workers and got the GORTT to pay hem off.

-it would be an entirely different thing when money is on the line.
It was Henry Ford who clearly stated that he could push a button and and accountant would come in and tell him what he needed to know to make his decisions.
If they had a financier who was willing-you think that it would not have been on the basis of a justifiable plan??

What do you think would have been the net results if the refinery remained open 2018-now???


Serious Question

1)Comrade Roget already on record of boasting about 4500 permanent employees for the refinery alone
S&A’s sum­ma­ry al­so not­ed:

•While Petrotrin has greater staffing lev­els than its key com­peti­tors, the busi­ness re­sults be­ing achieved are sig­nif­i­cant­ly less than top-per­form­ing Up­stream and Down­stream busi­ness­es in the key per­for­mance ar­eas of Op­er­a­tional Avail­abil­i­ty and Op­er­at­ing Costs.

• As such there ap­pears to be a sig­nif­i­cant op­por­tu­ni­ty to in­crease the ef­fi­cien­cy and ef­fec­tive­ness of the Petrotrin work­force in or­der to max­i­mize the fi­nan­cial per­for­mance of the busi­ness.



• While many com­pa­nies at­tempt to op­ti­mize their work­forces sim­ply by re­duc­ing staffing lev­els or im­ple­ment­ing a new or­ga­ni­za­tion­al struc­ture, Solomon has ob­served over the years that the most prof­itable busi­ness­es are ac­tu­al­ly fo­cused on max­imis­ing or­ga­ni­za­tion­al ef­fec­tive­ness and fi­nan­cial per­for­mance, not just min­i­miz­ing the num­ber of peo­ple,”

• Solomon’s ex­pe­ri­ence is that the busi­ness­es that have con­sis­tent­ly achieve top-quar­tile per­for­mance in terms of re­li­a­bil­i­ty, en­er­gy ef­fi­cien­cy, yield op­ti­mi­sa­tion and over­all prof­itabil­i­ty are not nec­es­sar­i­ly the busi­ness­es with the fewest per­son­nel.

•In fact, the best per­form­ers with­in the in­dus­try typ­i­cal­ly have per­son­nel re­sources rank­ing in the sec­ond quar­tile. At the same time the skills and ca­pac­i­ties of their work­forces, in con­junc­tion with the ef­fi­cien­cy and ef­fec­tive­ness of their work process­es, en­able them to con­sis­tent­ly achieve an in­creased lev­el of per­for­mance ver­sus their com­pe­ti­tion,”

• Key fac­tors to be con­sid­ered and be present in a busi­ness or­gan­i­sa­tion for sus­tain­able op­ti­miza­tion of the work­force are:

Ef­fi­cient work process­es.

Clar­i­ty of roles/re­spon­si­bil­i­ties.

Fo­cused aligned or­ga­ni­za­tion­al struc­ture.

High lev­els of skills, com­pe­ten­cy.

Util­i­sa­tion of tech­nol­o­gy and au­toma­tion to help max­i­mize pro­duc­tiv­i­ty.

• Sug­gest­ing Petrotrin es­tab­lish a con­tin­u­ous im­prove­ment cul­ture, S&A stat­ed: “Con­tin­u­ous change isn’t just a project, it’s a re­lent­less, nev­er-end­ing process as well as cul­ture change.”

• The sum­ma­ry al­lud­ed to “trans­for­ma­tion­al change which could on­ly be achieved by Petrotrin man­age­ment, union lead­er­ship and the Share­hold­er all work­ing to­geth­er in con­cert” to im­ple­ment nec­es­sary changes that will pro­vide the com­pa­ny with “foun­da­tion­al el­e­ments” for it to in­crease ef­fi­cien­cy, ef­fec­tive­ness and fi­nan­cial suc­cess for many years to come.”
To answer your "serious" question, we would have saved at least 6-7 hundred million USD in foreign exchange by not having to purchase fuel.
What is needed is a private sector employer, devoid of political and other baggage, who with their own skin in the game(money, time, effort) would make the hard, but proper decisions that are needed. BP just announced their intention to reduce their production of oil and gas by 40% by 2030, and its Capex by 9-11 billion dollars. This is what is neede at PT, hard decisions to ensure the survival of the refinery, not test drive arrangements like the OWTU was gifted by energy busybodies and neophytes like JUHN Scarfy and Goebbels Young. Refer to the nat gas price negotiations which have resulted in the contribution to 8 plants shutting down, and a couple more on the verge of doing so in Pt. Lisas.

[Redman]

was the bullet payment for malcom jones WGTL paid off, or written off by the creditors?

I dunno- but if it is there is in fact a new owner-how would GORTT/Petrotrin debt be relevant UNLESS they agree to take the debt on?
PM stated Heritage servicing the debt.

I eh want to devolve into a PNM/UNC thing here....

Lets begin where we at today -regardless if we disagree on what happened/should could woulda happened in the past.

[De Dragon]

was the bullet payment for malcom jones WGTL paid off, or written off by the creditors?

I dunno- but if it is there is in fact a new owner-how would GORTT/Petrotrin debt be relevant UNLESS they agree to take the debt on?
PM stated Heritage servicing the debt.

I eh want to devolve into a PNM/UNC thing here....

Lets begin where we at today -regardless if we disagree on what happened/should could woulda happened in the past.

[zoom rader]

was the bullet payment for malcom jones WGTL paid off, or written off by the creditors?

I dunno- but if it is there is in fact a new owner-how would GORTT/Petrotrin debt be relevant UNLESS they agree to take the debt on?
PM stated Heritage servicing the debt.

I eh want to devolve into a PNM/UNC thing here....

Lets begin where we at today -regardless if we disagree on what happened/should could woulda happened in the past.

Redman you so full 5hit you forgot how it smells

[Redman]

o answer your "serious" question, we would have saved at least 6-7 hundred million USD in foreign exchange by not having to purchase fuel.
.

We were importing 100k BBLs a day of oil-
Avg WTI 2018 -202 is about 53(an avg of the annual avgs)....so raw feedstock to save the 700M in fuel would have costed 1.9B USD per year-6B for the 3 years-
Plus/minus whatever profit or loss Petrotrin would have made.

Given the actual results upto 2018 -you think Petrotrin would have been profitable????

What is needed is a private sector employer, devoid of political and other baggage,
who with their own skin in the game(money, time, effort) would make the hard, but proper decisions that are needed.

BP just announced their intention to reduce their production of oil and gas by 40% by 2030, and its Capex by 9-11 billion dollars.
This is what is neede at PT, hard decisions to ensure the survival of the refinery, not test drive arrangements like the OWTU

Agreed.

Well unless an experienced operator came in and bid- any new owner would be a test drive.

Why not a local entity??

Yes I AGREE with the unions history-but we alo have a shot at keeping the refinery local and profitable.....isnt that worth the risk?

[Redman]

was the bullet payment for malcom jones WGTL paid off, or written off by the creditors?

I dunno- but if it is there is in fact a new owner-how would GORTT/Petrotrin debt be relevant UNLESS they agree to take the debt on?
PM stated Heritage servicing the debt.

I eh want to devolve into a PNM/UNC thing here....

Lets begin where we at today -regardless if we disagree on what happened/should could woulda happened in the past.

Redman you so full 5hit you forgot how it smells

well it is a good thing you are so focused on reminding me-but you have anything relevant to say?

[sMASH]

was the bullet payment for malcom jones WGTL paid off, or written off by the creditors?

I dunno- but if it is there is in fact a new owner-how would GORTT/Petrotrin debt be relevant UNLESS they agree to take the debt on?
PM stated Heritage servicing the debt.

I eh want to devolve into a PNM/UNC thing here....

Lets begin where we at today -regardless if we disagree on what happened/should could woulda happened in the past.

Redman you so full 5hit you forgot how it smells

thanks for being honest. the point of that debt was, that it was significant enough that rowley said that they had to shut petrotrin down because of it. they coudl wuk up the whole economy because of it, so i doubt that doubt the creditors jess up and say 'well it eh hah no refinery, so we eh gettin no morney again. such is life'. that kinda money doh wuk so. men get take out for rubber slippers already, but u excuse that debt? nah.

usually, (the actual business men can say how these things work more precisely) when a company restructures to pay off debts, they sell off parts of it to raise funds to pay off the debt. hopefully the fixed assets can cover the payments. it doesnt mean the debts get excused. sometimes, in that arrangement, the creditors may agree for some sort of extension.

but in petrotrin case, its only the refinery and i think maybe loading/storage facilities that were on the table to be sold.
and imburt said that they giving patriotic cause they giving upfront payment, but differing it for 7 years, with 10 years for full repayment.


the whole activity of this petrotrin ting not adding up, cause the reasons they give for the actions they take, not lining up with the subsequent activity .



u shut it down cause u hadda pay a bag ah money. well okay, u pay it when u sell off piece. then u tell patriotic that they have ten years to repay... that is like the bess refinance anybody could get ever.
if u could refinance so bess, could u not have let espinet keep on restructuring and trimming fat till it gets profitable?






while petrotrin was bad business on its own, it was stabilizing the economy. annnnd espinet was getting the work done to make it fit.


at the end of the day MC malcom jones and MC rowley MC young MC imburt MC franklyn khan

[De Dragon]

o answer your "serious" question, we would have saved at least 6-7 hundred million USD in foreign exchange by not having to purchase fuel.
.

We were importing 100k BBLs a day of oil-
Avg WTI 2018 -202 is about 53(an avg of the annual avgs)....so raw feedstock to save the 700M in fuel would have costed 1.9B USD per year-6B for the 3 years-
Plus/minus whatever profit or loss Petrotrin would have made.

Given the actual results upto 2018 -you think Petrotrin would have been profitable????

What is needed is a private sector employer, devoid of political and other baggage,
who with their own skin in the game(money, time, effort) would make the hard, but proper decisions that are needed.

BP just announced their intention to reduce their production of oil and gas by 40% by 2030, and its Capex by 9-11 billion dollars.
This is what is neede at PT, hard decisions to ensure the survival of the refinery, not test drive arrangements like the OWTU

Agreed.

Well unless an experienced operator came in and bid- any new owner would be a test drive.

Why not a local entity??

Yes I AGREE with the unions history-but we alo have a shot at keeping the refinery local and profitable.....isnt that worth the risk?

You assume that the OWTU was the best option, and not the most politically expedient one.
Private sector involvement and State ownership doesn't have to be mutually exclusive. When the GORTT tries to play fast and loose with the day to day management, is when we tend to run into problems. Look at Tringen, TTMC, Ispat, examples, anytime the GORTT steps back, profits, or worst case, break even occurs.
Majority GORTT ownership, but minimal political interference, can work.

[Redman]

thanks for being honest. the point of that debt was, that it was significant enough that rowley said that they had to shut petrotrin down because of it. they coudl wuk up the whole economy because of it, so i doubt that doubt the creditors jess up and say 'well it eh hah no refinery, so we eh gettin no morney again. such is life'. that kinda money doh wuk so. men get take out for rubber slippers already, but u excuse that debt? nah.

Trinidad Petroleum refinanced the bonds out to 2026-and on a platform the PM said that they servicing the debt.
So the debtors are being paid from the activities.

usually, (the actual business men can say how these things work more precisely) when a company restructures to pay off debts, they sell off parts of it to raise funds to pay off the debt. hopefully the fixed assets can cover the payments. it doesnt mean the debts get excused. sometimes, in that arrangement, the creditors may agree for some sort of extension.

The debt can be paid off,restructured,refinanced or ignored. There are consequences to all of them.

but in petrotrin case, its only the refinery and i think maybe loading/storage facilities that were on the table to be sold.
and imburt said that they giving patriotic cause they giving upfront payment, but differing it for 7 years, with 10 years for full repayment.

As the only local bidder they gave the Union the shot.I feel that ALL the offers should have been made public-but they clam up using confidentiality etc.

the whole activity of this petrotrin ting not adding up, cause the reasons they give for the actions they take, not lining up with the subsequent activity .

Petrotrin can not add up because ALL stake holders were feeding at the trough - GORTT included-all parties.

u shut it down cause u hadda pay a bag ah money. well okay, u pay it when u sell off piece. then u tell patriotic that they have ten years to repay... that is like the bess refinance anybody could get ever.
if u could refinance so bess, could u not have let espinet keep on restructuring and trimming fat till it gets profitable?

Maybe-you think the union would have played ball?

They restructured the debts based on the expected cash flow and profits of the components- and therefore were no longer dependent on the sale of the asset to settle the debt.
http://trinidadpetroleum.co.tt/investor ... tatements/

while petrotrin was bad business on its own, it was stabilizing the economy. annnnd espinet was getting the work done to make it fit.

Well I think they hit a wall wrt to getting past a certain point.

at the end of the day MC malcom jones and MC rowley MC young MC imburt MC franklyn khan

lol

[De Dragon]

https://guardian.co.tt/business/khan-tt ... 6e4e15e34a
Case in point.
We guud hee hee hee hee!
No plan, or even acknowledgement that it could eventually happen to us, where BPTT includes us in their restructuring plans.

[Redman]

o answer your "serious" question, we would have saved at least 6-7 hundred million USD in foreign exchange by not having to purchase fuel.
.

We were importing 100k BBLs a day of oil-
Avg WTI 2018 -202 is about 53(an avg of the annual avgs)....so raw feedstock to save the 700M in fuel would have costed 1.9B USD per year-6B for the 3 years-
Plus/minus whatever profit or loss Petrotrin would have made.

Given the actual results upto 2018 -you think Petrotrin would have been profitable????

What is needed is a private sector employer, devoid of political and other baggage,
who with their own skin in the game(money, time, effort) would make the hard, but proper decisions that are needed.

BP just announced their intention to reduce their production of oil and gas by 40% by 2030, and its Capex by 9-11 billion dollars.
This is what is neede at PT, hard decisions to ensure the survival of the refinery, not test drive arrangements like the OWTU

Agreed.

Well unless an experienced operator came in and bid- any new owner would be a test drive.

Why not a local entity??

Yes I AGREE with the unions history-but we alo have a shot at keeping the refinery local and profitable.....isnt that worth the risk?

You assume that the OWTU was the best option, and not the most politically expedient one.
Private sector involvement and State ownership doesn't have to be mutually exclusive. When the GORTT tries to play fast and loose with the day to day management, is when we tend to run into problems. Look at Tringen, TTMC, Ispat, examples, anytime the GORTT steps back, profits, or worst case, break even occurs.
Majority GORTT ownership, but minimal political interference, can work.

No I thought that the union was the ONLY local entity that bid.
Was there another?
And fk yes it was the most politically expedient one.

ETA: I also believe that it forces the union to confront the bullsheit it spewed for decades.
Ive long advocated giving the union a block-and see how much oil they produce and profits they make.
Running their biz on union labor rates.

[sMASH]

There were other bids, they said but confidentiality they can't elaborate . But resorted to this one.

Hoodwink ting again.



Two things.
Men inside there was willing to take paycuts to keep their wuk.

Annnd, if roget didn't want to play ball with the govt, they merely had to go to court.
The court would see the balance sheet and say, yes, is either u trim fat here, or ur shut down and fire everybody.
And roget get denied. The workers don't always win in industrial court. The labor act has provisions to allow for dismissal in restructuring.


But no, that would mean av drilling and all other skimming schemes would come to light, so might as well squash and restart.

Keeping petrotrin running was bad for pnm business. A Lil bit again they bun down the accounts dept like WASA

[De Dragon]

o answer your "serious" question, we would have saved at least 6-7 hundred million USD in foreign exchange by not having to purchase fuel.
.

We were importing 100k BBLs a day of oil-
Avg WTI 2018 -202 is about 53(an avg of the annual avgs)....so raw feedstock to save the 700M in fuel would have costed 1.9B USD per year-6B for the 3 years-
Plus/minus whatever profit or loss Petrotrin would have made.

Given the actual results upto 2018 -you think Petrotrin would have been profitable????

What is needed is a private sector employer, devoid of political and other baggage,
who with their own skin in the game(money, time, effort) would make the hard, but proper decisions that are needed.

BP just announced their intention to reduce their production of oil and gas by 40% by 2030, and its Capex by 9-11 billion dollars.
This is what is neede at PT, hard decisions to ensure the survival of the refinery, not test drive arrangements like the OWTU

Agreed.

Well unless an experienced operator came in and bid- any new owner would be a test drive.

Why not a local entity??

Yes I AGREE with the unions history-but we alo have a shot at keeping the refinery local and profitable.....isnt that worth the risk?

You assume that the OWTU was the best option, and not the most politically expedient one.
Private sector involvement and State ownership doesn't have to be mutually exclusive. When the GORTT tries to play fast and loose with the day to day management, is when we tend to run into problems. Look at Tringen, TTMC, Ispat, examples, anytime the GORTT steps back, profits, or worst case, break even occurs.
Majority GORTT ownership, but minimal political interference, can work.

No I thought that the union was the ONLY local entity that bid.
Was there another?
And fk yes it was the most politically expedient one.

ETA: I also believe that it forces the union to confront the bullsheit it spewed for decades.
Ive long advocated giving the union a block-and see how much oil they produce and profits they make.
Running their biz on union labor rates.

*sigh* Not with a 3 year test run option . 3 years with no SPT, means there are BILLIONS to thieve. AGAIN, with no skin in the game, where is the accountability and sound , hardnosed business management going to come from? The OWTU lucked out, pure and simple. They get to keep an unsustainable workforce quiet for years, reap BILLIONS, with ZERO risk. Don't even bother with funding, because any unethical financier/backer is also going to love a deal of this type. We still don't know the source mind you, so any potential money launderer, narco-terrorist, or Russian prop up entity could be in the mix.

[Redman]

There were other bids, they said but confidentiality they can't elaborate . But resorted to this one.

Hoodwink ting again.



Two things.
Men inside there was willing to take paycuts to keep their wuk.

Annnd, if roget didn't want to play balli with the govt, they merely had to go to court.
The court would see the balance sheet and say, yes, is either u trim fat here, or ur shut down and fire everybody.
And roget get denied. The workers don't always win in industrial court. The labor act has provisions to allow for dismissal in restructuring.


But no, that would mean av drilling and all other skimming schemes would come to light, so might as well squash and restart.

Keeping petrotrin running was bad for pnm business. A Lil bit again they bun down the accounts dept like WASA

From what I remember they ended up with 3 final bids.
Of which the union was the only local.