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SR wrote:https://en.m.wikipedia.org/wiki/Gene_Miles_(activist) know your history in corruption.....
Dun know....kstt wrote:
kstt wrote:IMG-20180829-WA0008.jpg
Six after six after six...wait for even more sixesThe_Honourable wrote:Offer to refine Guyana’s oil
Kamla urges Rowley to reconsider refinery closure
BEFORE the Prime Minister addresses the nation this evening and confirms Government’s decision to shut down the refinery of state-owned Petrotrin, the Opposition Leader is urging him to reconsider.
Instead of the shutdown, Kamla Persad-Bissessar believes TT should attempt to partner with its Caricom neighbour, Guyana–where billions of barrels of oil have been discovered over the past three years–to refine its oil.
Guyana’s oil discoveries were made by ExxonMobil, the largest publicly traded international oil and gas company, which is leading the exploration efforts there.
Speaking to the media at her constituency office in Penal yesterday, Persad-Bissessar said she hopes Dr Keith Rowley’s good sense will prevail.
“I understand Guyana has found another well and they are producing, can we not group in some way and find a way to work together as a Caricom (sic) where we can help them refine their oil?” she asked. “I am calling on him to let good sense prevail to be very cautious in making such a drastic and dangerous move, this will have a ripple effect throughout the economy and the country.” She said while she understands that Guyana will build their own refinery in the coming years, this move now could help save Petrotrin and the national economy.
“Of course they will build their own refinery but we have one and many the units in the refinery at Petrotrin are new, so a lot of money has been invested on the refinery side and now they are shutting it down. It is total nonsense.”
Persad-Bissessar is also questioning whether the closure of the refinery will stop the public from getting details about the fake oil scandal and the failed World Gas to Liquid (WTGL) plant.
“I am watching, why did you close the refinery? Is it because the fake oil was on refinery’s side? World GTL was it on the refinery side? Is it now that we are not going to get the truth of those matters? If you close the company, collapse one side of it, what will become of the data? What will become of the books? Could this be an attempt to cover up all the corruption under this Rowley government with fake oil?”
She also weighed in on the Galleons Passage’s trial voyage to Tobago yesterday morning, saying, “I think many people were excited and anxious because we have been waiting so long to get this connection with the seabridge and once again the incompetence, mismanagement and corruption in the Rowley government, we are left without that seabridge, we have bought a boat that is now really just junk, scrap iron.
How could we buy a new boat and have it parked up so long at Staubles Bay and when it is actually attempting to float, it cannot dock?”
Source: https://newsday.co.tt/2018/09/02/offer- ... yanas-oil/
The_Honourable wrote:On ExposeTT facebook page...
Petrotrin has advised that all of its employees will be severed in both Exploration and Production and the Refining arms of the company. This will allow for the 800 employment spots for the continuing Exploration and Production to become available.
In all of this we urge you the citizens to be mindful of the Ghost that recently hit Petrotrin for six. A&V and its owner Nazim Baksh stand to benefit from all of Petrotrin witnesses no longer being at the company. Petrotrin will be able to fill the 800 spots with only persons under the advice of PNM led Government and Energy Minister whose family has been in bed with A&V operatives for years. Whilst also all information pertaining to A&V being misplaced or destroyed in the melee.. at least that's what Petrotrin will say.
As the door closes on the refinery, A&V is preparing for its arbitration proceedings with Petrotrin commencing next month. An arbitration we understand from those now left inevitably unemployed as a gimmick to go in favour of A&V. A&V is going to get 100+ Million from Petrotrin, resume control on the Catshill Block, get damages exceeding 100+ million and also apparently also be gifted the Barrackpore Block when Petrotrin on paper makes it appear uneconomical for them to operate and put it up for bid with A&V already selected as the winner.
Do not for a second think the PNM will watch one of its largest financiers actually fall in the face of fraud. They will obviously come out better than before.
vaiostation wrote:1. Guyana not going to build there own refinery.
2. Guyana can choose any country they want to refine their oil. So why keep a failing refinery online in the off chance they decide to choose Trinidad? So if they choose another country, more money would have simply been wasted.
3. Kamla was in government and did nothing with respect to A&V.
If petrotrin wasn't government run, layoffs would have happened over a decade ago and the entire company restructured.
Kams just like to play politics, but she would have done the same thing...
Trinispougla wrote:vaiostation wrote:1. Guyana not going to build there own refinery.
2. Guyana can choose any country they want to refine their oil. So why keep a failing refinery online in the off chance they decide to choose Trinidad? So if they choose another country, more money would have simply been wasted.
3. Kamla was in government and did nothing with respect to A&V.
If petrotrin wasn't government run, layoffs would have happened over a decade ago and the entire company restructured.
Kams just like to play politics, but she would have done the same thing...
Guyana already decide to build a refinery in Linden. And yes, that refinery would have closed with Texaco in 74 if it was a private company. 16 refineries have closed all over the western hemisphere since 2000.
It is not economically a wise investment. The startup costs are astronomical and even the insurance from the cat cracker is astronomical. Ask Errol McLeod, he get a dress burn from a cat cracker explosion in the 70s and received severe burns
Redress10 wrote:That's where the investments come from. No government has 25 billion tt to burn in a oil producing company that produces 40000 barrels of oil per day yet employs over 5000. That is madness.
A&V only start to drill when PNM win election.vaiostation wrote:1. Guyana not going to build there own refinery.
2. Guyana can choose any country they want to refine their oil. So why keep a failing refinery online in the off chance they decide to choose Trinidad? So if they choose another country, more money would have simply been wasted.
3. Kamla was in government and did nothing with respect to A&V.
If petrotrin wasn't government run, layoffs would have happened over a decade ago and the entire company restructured.
Kams just like to play politics, but she would have done the same thing...
Why will they do that? How the public will know average joe dont clock $40k a month? How will they know it dont have cleaners?Ben_spanna wrote:Was there not a request to make All salary details of all the various employees of Petrotrin public and printed so that the general public could then see what the truth is? How much does Roget get paid? What are his expense allowances?
nervewrecker wrote:Why will they do that? How the public will know average joe dont clock $40k a month? How will they know it dont have cleaners?Ben_spanna wrote:Was there not a request to make All salary details of all the various employees of Petrotrin public and printed so that the general public could then see what the truth is? How much does Roget get paid? What are his expense allowances?
Next thing they might have to publish where all this tax paying money going esp with all these new taxes.
You know what will take place dey?
sMASH wrote:That's $86m with exorbitant salaries of all those mangers. Imagine, imagine if they stream line it and beg Guyana they crude.
LOOPTT - Prime Minister Dr Keith Rowley is standing by the government’s decision to shut down Petrotrin’s Point-a-Pierre refinery, saying the company had become a drain on the treasury rather than a contributor.
However the PM sought to assure that the hundreds of workers placed on the breadline will be given “attractive” severance packages and have access to counselling and financial advice.
In a televised address to the nation on Sunday night, Rowley said the government simply had no choice but to close the refinery, which had been operating at a loss for some time.
Rowley pointed out that the June 2017 Lashley report had outlined Petrotrin’s deteriorating financial position.
“Petrotrin was overburdened with debt. The net debt at financial year-end 2015 amounted to $11.4 billion,” he said.
“Taxes and royalties owed to Government amounted to $3.1 billion as at February 28, 2017. The company was not complying with the tax laws and even when it collected taxes from companies that paid their taxes to Petrotrin for onward transmission to the Ministry of Finance Petrotrin was huffing and utilising those monies in its own operations.”
Rowley said several meetings were held with stakeholders including the Oilfield Workers Trade Union (OWTU) to discuss the issue and detailed analysis done therefore any accusation of the decision being sudden was disingenuous.
“These calls are nothing but self-serving, stalling tactics and political subterfuge, intended to maintain the status quo, even as the company sinks daily into a deeper quagmire and the whole country’s financial situation becomes more exposed to disastrous downgrade if the Petrotrin problem is not addressed,” he stated.
“This is a company that is supposed to be one of the major contributors to the national economy. When such an enterprise is losing money to the point where it can’t comply with the law, we have a major problem. As I said before, Petrotrin has become, for some time now, a ward of the treasury instead of a contributor to the treasury.”
Because of this, Rowley said, monies that could have been spent in critical areas like healthcare, education and national security was instead spent to keep Petrotrin afloat.
The Prime Minister said Petrotrin had been identified as being among the most inefficient operations in the world.
“Left as it is, Petrotrin will require an immediate $25 billion cash injection just to stay alive. There is no way that the company can find this money. No financier will lend it because the company simply will not be able to repay such an additional loan.”
Rowley said though the company’s refining operations have been shut down, the refining assets of Petrotrin can now be put in a separate company for opportunity attention and the OWTU will be given the first option to own and operate it on “the most favourable terms”.
The PM maintained that closing the refinery was not a decision made lightly as the effect on workers and their families was considered.
He however assured that workers would be treated with dignity.
“In order to minimise the overall negative effects of this inevitable decision to get out of refining the Government will ensure that the workers who are surplus to the requirement of the renewed effort leave the company with an attractive separation package that should be well received and backed up by the assured pension payments to come,” he said.
“The company will treat every employee with dignity and provide services such as financial advice and employee assistance programmes for psychological support. Workers are expected to receive significant financial packages upon ties being severed with the company.”
In Refining and Marketing, approximately 1700 permanent workers will be affected while in Exploration and Production, employment levels are to be reduced from 1700 workers to approximately 800 persons.
Rowley said many of these workers are over 50 and may be able to receive attractive early retirement packages.
As for how the closure would affect the national fuel supply, Rowley said T&T consumes less than 25,000 barrels of refined products per day and it makes more sense to export the 40,000 barrels of oil produced per day and import the fuel needed (gasoline, diesel, jet fuel etc).
The PM said workers and businesses should not be misled and fall prey to misinformation and fear mongering.
“Change like this is always difficult and even traumatic; but the good of the country must look ahead,” he stated.
“But let us not be naïve, there are elements in our society who do not view this change the same way but see it as an opportunity to further their own ends in mischief making. I am appealing to all those directly or indirectly affected to be strong and have faith in your country.”
Rowley issued a plea for workers and contractors to not participate in industrial action in protest of the decision to close the refinery.
The plea comes as the Joint Trade Union Movement (JTUM) has planned a day of “rest and reflection” for Friday.
“Unnecessary work stoppages and other contrived industrial actions are not in the nation’s best interest,” Rowley advised.
“This will only obstruct the already embattled company, and delay this irreversible and unavoidable process geared towards converting a money losing company into a profitable enterprise for the benefit of the entire nation.
“It is my sincere hope that you will recognise the implications that such action can have on our stakeholders, including those to whom we are heavily indebted and ask that you make the best decision not just for you but for your children.”
The JTUM is expected to deliver its response to the PM’s address to his office on Monday.
OWTU already refuse. Clearly they have no plan and only tactic is to stall hoping tax payers will bail them out. Petrotrin is almost insolvent so it would have been easier for the government to let it got bankrupt and let the bondholders take it over and liquidate. In this circumstance employees will loose out even more. These unions are real backward thinking and are no longer relevant. I hope they wise up soon. In the US, GM was similar to Petrotrin and they had to let it go bankrupt to get rid of the union and then do the turnaround.The refining assets of Petrotrin can now be put in a separate company for opportunity attention. The OWTU will be given the first option to own and operate it on the most favourable terms.
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