Petrotrin refinery shut down

[airuma]

Have men saying petro cyar shut down dan. Dey there to stay!

^ no but you could always make movements if you realise the direction they heading

There are so many refineries world wide and right here in the caribbean that shut down or pause due to unfavourable market conditions.

I really starting to wonder if men like Rouget and his "comrades" have any clue about the oil business. They sold people dreams that breathe a sense of entitlement into the country.

Everytime Roget talks, this is obvious. IMHO, the only labour issue he ever deals with is compensation and his purpose should be the welfare of the union members not the decisions that management makes. He has often called for various managers and boards to resign but a labour union is supposed to be about preserving jobs. How many jobs has he saved since this government came into being vs how many lost jobs? He is the biggest NON-PERFORMER in the labour union front yet the members follow him blindly because he has a big mouth. We are now witnessing what happens when the blind leads the blind.

[randolphinshan]

funny how opposition highlights what was done when they were not in power...

what did they do when they were in power though

Paid Khalid Hassanali 160 K per month without a written contract and that is just the tip of the bobol.

[tr1ad]

funny how opposition highlights what was done when they were not in power...

what did they do when they were in power though

Paid Khalid Hassanali 160 K per month without a written contract and that is just the tip of the bobol.

Like I said... They eh mention what they do

[Redress10]

Airuma

They not suppose to follow "blindly". That is madness.

Our union leaders are very much out of date and don't aim for sutainability for their employees.

Wage increases could only go so far, you also need to negotiate investments etc. Unions could stop a company from making certain investments in the court. Even in the times of apartheid etc, unions were preventing companies from expanding and investing in apartheid South Africa. Unions have a place on the board of directors. Can vote at shareholders' meetings etc. I don't know what Rouget and them does do.

Unions like to be too bottom heavy in trinidad. Even OWTU is too big to be a proficient union. They still stuck in a socialist mindstates but unions nowadays not even on socialism. They on worker representation and efficiency. The more a company makes the more the worker gets etc.

[EFFECTIC DESIGNS]

So basically what this all boils down to is a positive thing? meaning the refinery is losing money and has been for over a decade so therefore the best thing that could ever happen is to shut it down so that tax payers won't continue to pay for all these losses?

[Trinispougla]

I really wish people would listen to both sides of a story before passing judgement. This government and by extension Petrotrin’s corrupted board of directors have successfully convinced the general public that employees are the ones to blame for the financial situation which they face. Not highlighting the truth...

false information regarding workers salaries and also that wages make up 50% of the company’s expenditure when in truth it’s only 11%.

Spending billions of dollars on the GTL plant, turn around and sell it to a foreign company for under 30 million. A plant which they have stated is ready to run. Was there a tender process to sell this? Do you think you can approach a state owned company and buy a part of their property just so? Ask yourself how that just happen dry just so. The same plant which was intended to make petrotrin viable once again

Closing down a refinery... only sell crude oil to pay a debt? How? Not increase production and marketability? Then import fuel to sell locally?

Once sold it’s easy to sell this same refinery just as they did the GTL plant to another private company. For the country to now be faced with whatever fuel prices that they deem necessary? Are we as a country prepared for that or isn’t things hard enough on its own.

Everyone agrees that something needs to be done. But this is definitely not the way, make petrotrin viable once again and stop lying to the general public. You all are sending us as a country straight back to the days of slavery. With absolutely zero plan for the future. People need to know the truth and understand what type of “racket” is taking place by this corrupted government. Open your eyes now or you too would feel it in the very near future. This isn’t about petrotrin alone this is about our country. There are hundreds of other companies/contractors/suppliers who all depend on the business aspect from this company. When this fails so too will all the other fence lined businesses. So please open your eyes to the bigger picture. Unless you have no issues with paying $60 for an LPG gas tank to cook and $10 for a short drop.
The same people that passing their mouth on petrotrin today are the same ones who does ask yuh “ so you working there? Yuh can’t get a lil wuk for meh? Talk to somebody please” now you’re up in arms... smhhh

Sinister nobody is blaming the workers. They do not pay themselves. But nobody can also deny that Petrotrin had a problem: they could not expand their business through exploration though having significant assets and they couldn't pay their debts. In addition to that, until a government had the balls to actually fox the company, their wage bill was constantly on the increase despite diminished returns. Boss as I said earlier, if gas was king still, Petrotrin's problems could be ignored. But it just not so anymore

[The_Honourable]

Probably have a discounted price for the fuels....this has happened in the past when there were issues in the refinery...they would import from Vene.

The refinery will likely be upgraded and brought back into production.

Who is going to upgrade and bring it back? Are we decommissioning or privatizing the refinery?

[teems1]

Probably have a discounted price for the fuels....this has happened in the past when there were issues in the refinery...they would import from Vene.

The refinery will likely be upgraded and brought back into production.

Who is going to upgrade and bring it back? Are we decommissioning or privatizing the refinery?

Wouldn't privatizing mean that whoever acquires it would also include the huge loans which need to be paid back?

The 800m and 900m USD loans from 2007 and 2009 and due for payment shortly.

[vaiostation]

“The refinery requires billions of dollars and, even if we spent billions, the product that the refinery is going to produce will not be able to be marketed in two years’ time because it will not be up to international standards.”

https://www.trinidadexpress.com/news/lo ... 51cde.html

Basically the main reason the refinery has gone the way of caroni.
People thinking that pnm want to sell the refinery to the Syrians the same way they thought that the pnm shutdown caroni to spite de indians, but ask yourselves, if it was a profitable entity in the first place, would it have been closed?

Similar to an old car, where fixing it costing more than it's worth, hard decisions need to take place.

[Gladiator]

^^sabga

ANSA McAL has 10 sectors of business that comprise the entire Group. I would think, if what you mentioned is true, that being in the energy sector now would allow the said Group to add 1 more sector unit to make it 11 by adding an "Energy" portfolio and thus have Niquan Energy listed there?

I mean, if this is true then why be so down low? It would have been much easier if we all knew that Niquan was a member of the ANSA McAL group. Just saying..

Politics Hadda play...

[Daran]

Probably have a discounted price for the fuels....this has happened in the past when there were issues in the refinery...they would import from Vene.

The refinery will likely be upgraded and brought back into production.

Who is going to upgrade and bring it back? Are we decommissioning or privatizing the refinery?

Wouldn't privatizing mean that whoever acquires it would also include the huge loans which need to be paid back?

The 800m and 900m USD loans from 2007 and 2009 and due for payment shortly.

Depends, if the money is owed to GoTT the debt can be forgiven.

[Redress10]

Alluh vex at Rowley when the real men who have us in this mess (Malcolm Jones and Patrick Manning) done dead and gone....Why Rouget doh go and protest by Manning wife residence and Malcolm Jones wife house.

[The_Honourable]

Probably have a discounted price for the fuels....this has happened in the past when there were issues in the refinery...they would import from Vene.

The refinery will likely be upgraded and brought back into production.

Who is going to upgrade and bring it back? Are we decommissioning or privatizing the refinery?

Wouldn't privatizing mean that whoever acquires it would also include the huge loans which need to be paid back?

The 800m and 900m USD loans from 2007 and 2009 and due for payment shortly.

I would like to think even if petrotrin sells the refinery, petrotrin still has ownership of the loans since the agreement to get the loans wasn't made with the refinery itself but with petrotrin. Petrotrin can sell the refinery with the loans attached to it... which nobody will buy, or sell the refinery without it. Unless there are clauses in the loan agreements that can't separate the loans from the refinery.

So the question still remains, is the refinery going to stay there and grow bush or an entity will take it over and upgrade it?

What about E&P/Trinmar operations? A french company Perenco eyeing it for some time now.

[hydroep]

I hope they have proper security in place to protect the refinery from vandals because that thing is a scrap dealer's dream.

Dais if that isn't part of the "plan" too...

[Monkey Man]

I hope they have proper security in place to protect the refinery from vandals because that thing is a scrap dealer's dream.

Dais if that isn't part of the "plan" too...

Men across the guaracara helping themselves to materials ages now. Them men will suffer too

[Monkey Man]

[South African]

Are they going to :

1) Decommission the compete refinery ? = Worst option for the country, however a lot of potential work to come out of this. The facility must be made safe before abandonment then it must all be demolished , a lot of equipment & materials to be sold. However the bad part is when this demo work is over , whats next for the economy.
2) Decommission certain areas of the refinery and keep some plants running ? = Maybe not the best option in the world however Petrotrin in a huge refinery and a lot of being wasted by poor equipment and outdated technology, it would make more sense to do a full upgrade which is also very costly.
3) Privatize the refinery ? = Might be the best option. A private entity might be able to encourage more investors to revamp and optimize the refinery however the bad part is the profit will not be going to the government (which is currently the case as they are losing money anyways)

[Redman]

There are a plethora of assets away from the refinery that make up the organization that is Petrotrin.

Espinet has indicated that they already have a plan for the debt,without the refinery.

Redress posted an article that has a solution...how GORTT does this will be the question....fully private sale of assets,partial sale of equity,management contract...

Maybe this is to Break the unions grip on Petrotrin

[screwbash]

they shuda cud off the head first, remove the whole board an all top managers who is the decision makers that fork up the company. no lil field worker make a decision that fork up the company it is the managers and the board that cause the problem and the lil workers that loss they wuk. IT HAVE A GOD and HE/SHE DOH MC SLEEP. why fire all the staff and create a new company with the same rotten, teifing, corrupted board and managers they for forking do the same again.

[shake d livin wake d dead]

so....the real issues:

cost of fuel to increase?
how cooking gas looking?
slowly but surely, that gas subsidy to TTEC going
and well the ripple effect associated with everything above

[aaron17]

So what the 1700 going to do to get money to survive now?

[gastly369]

Probably have a discounted price for the fuels....this has happened in the past when there were issues in the refinery...they would import from Vene.

The refinery will likely be upgraded and brought back into production.

Who is going to upgrade and bring it back? Are we decommissioning or privatizing the refinery?

Wouldn't privatizing mean that whoever acquires it would also include the huge loans which need to be paid back?

The 800m and 900m USD loans from 2007 and 2009 and due for payment shortly.

I would like to think even if petrotrin sells the refinery, petrotrin still has ownership of the loans since the agreement to get the loans wasn't made with the refinery itself but with petrotrin. Petrotrin can sell the refinery with the loans attached to it... which nobody will buy, or sell the refinery without it. Unless there are clauses in the loan agreements that can't separate the loans from the refinery.

So the question still remains, is the refinery going to stay there and grow bush or an entity will take it over and upgrade it?

What about E&P/Trinmar operations? A french company Perenco eyeing it for some time now.

Guess which board member involved in perenco......

[Chimera]

Gonna see real cars and houses up for sale from next month. Better they sell on their own before banks come knocking

[nervewrecker]

Next thing is charlie brash buying it and not the syrians.
I know duprey asked to buy forest reserve once so not sure if is him, brash or sabga might buy.

Right now charlie owns paria suites, lease operators, well services, IOCL and something else. Most of petro fields leased out to him. They give him all the hood wells and keep all the bad ones.

[sMASH]

they say the refinery isnt viable because its minium capacity is way above the needs of even the local market, that they had to import raw material to have it running. i say scrap the crude processing parts, and build more methanol, AUM, DME or what ever kinda of materials in demand right now, and in the future.
if possible, to process local stuff to supply the local markets at present consumption, but with room to increase production to about twice what we need. the minium capacity should be higher than what is needed, cause u cater for down time. u plan ur shut down every time storage becomes maxed out... do ur repairs, then back up again when storage become available.


all in all, i am totally against selling the natural gas away from trinidad in the form of LNG.. we should process it, convert it into sumthing and sell that product.

[Gladiator]

Alluh vex at Rowley when the real men who have us in this mess (Malcolm Jones and Patrick Manning) done dead and gone....Why Rouget doh go and protest by Manning wife residence and Malcolm Jones wife house.

Same fukin PNM......

[shake d livin wake d dead]

Alluh vex at Rowley when the real men who have us in this mess (Malcolm Jones and Patrick Manning) done dead and gone....Why Rouget doh go and protest by Manning wife residence and Malcolm Jones wife house.

Same fukin PNM......

Same pnm who give jones ah bligh...so idk wah u talking about redress 10

[bess almera]

So what the 1700 going to do to get money to survive now?

Think ppl don’t realize that the workers especially permanent ones, won’t be retrenched empty handed.

[EFFECTIC DESIGNS]

so....the real issues:

cost of fuel to increase?
how cooking gas looking?
slowly but surely, that gas subsidy to TTEC going
and well the ripple effect associated with everything above

Well if that happens then its the end of all them $20 food specials around the country Might be $10 for a doubles soon lol

[Dizzy28]

Hema grilling seepersad bachan fierce fierce this morning on Petrotrin.