Petrotrin refinery shut down

[shimon]

So if its goiong to cost $2.6 BILLION to close Petrotrin, then the public would like a full account of who receives how much? how much of that is to settle debt of the company itself? how much of that goes towards the workers? how much of that is being used to pay off exorbitant sums to high level managers who have already been raping this country of its money?
PUBLIHS it ALL with NAMES of all the managers and their levels!
We want Transparency, no one must profit from the closure.

Lol that will never happen.

[PariaMan]

Carefull what you wish for next thing the buyers pull a Mital

Men who could have received millions in VSEP go home instead with very little

[Duane 3NE 2NR]

[Duane 3NE 2NR]

OWTU files injunction to stop Petrotrin from sending home workers
Date: Tuesday, October 2, 2018

he Oilfield Workers Trade Union (OWTU) has filed an injunction in the Industrial Court to stop Petrotrin from dismissing all its workers.

The application was filed by the OWTU's attorneys this morning.

The matter comes up for hearing tomorrow at 10 am.

The matter coincides with a march that the union will begin tomorrow, from San Fernando to Port-of-Spain, to demonstrate against the decision to close the refinery and send home workers.

The company has said that all workers will be sent home on November 30th.

The OWTU says it will issue a statement on the matter today.

[gastly369]

Ahhh Bai...

[maj. tom]

a set of dog and pony show.

[The_Honourable]

So i guess jp morgan and Honeywell get blank

[neilsingh100]

OWTU files injunction to stop Petrotrin from sending home workers
Date: Tuesday, October 2, 2018

he Oilfield Workers Trade Union (OWTU) has filed an injunction in the Industrial Court to stop Petrotrin from dismissing all its workers.

The application was filed by the OWTU's attorneys this morning.

The matter comes up for hearing tomorrow at 10 am.

The matter coincides with a march that the union will begin tomorrow, from San Fernando to Port-of-Spain, to demonstrate against the decision to close the refinery and send home workers.

The company has said that all workers will be sent home on November 30th.

The OWTU says it will issue a statement on the matter today.

I knew this was coming... Curious to know on what grounds OWTU filing this injunction since I think the government can show that the Petrotrin is insolvent so keeping it as a going concern is not an option.

[alfa]

OWTU files injunction to stop Petrotrin from sending home workers
Date: Tuesday, October 2, 2018

he Oilfield Workers Trade Union (OWTU) has filed an injunction in the Industrial Court to stop Petrotrin from dismissing all its workers.

The application was filed by the OWTU's attorneys this morning.

The matter comes up for hearing tomorrow at 10 am.

The matter coincides with a march that the union will begin tomorrow, from San Fernando to Port-of-Spain, to demonstrate against the decision to close the refinery and send home workers.

The company has said that all workers will be sent home on November 30th.

The OWTU says it will issue a statement on the matter today.

I knew this was coming... Curious to know on what grounds OWTU filing this injunction since I think the government can show that the Petrotrin is insolvent so keeping it as a going concern is not an option.

Probably on the grounds that they blatantly violated an mou they signed which states that they have to involve the union on any restructuring exercise when they totally bypassed them. That and the fact that they already worked out severance packages without the union being consulted at all. Then Keith Scotland brought up an issues that you can't simply retrenched a worker for being redundant and hire someone else to fill the same position. Might not be Rock solid cases but if they could tie them up until next election I go be happy

[neilsingh100]

OWTU files injunction to stop Petrotrin from sending home workers
Date: Tuesday, October 2, 2018

he Oilfield Workers Trade Union (OWTU) has filed an injunction in the Industrial Court to stop Petrotrin from dismissing all its workers.

The application was filed by the OWTU's attorneys this morning.

The matter comes up for hearing tomorrow at 10 am.

The matter coincides with a march that the union will begin tomorrow, from San Fernando to Port-of-Spain, to demonstrate against the decision to close the refinery and send home workers.

The company has said that all workers will be sent home on November 30th.

The OWTU says it will issue a statement on the matter today.

I knew this was coming... Curious to know on what grounds OWTU filing this injunction since I think the government can show that the Petrotrin is insolvent so keeping it as a going concern is not an option.

Probably on the grounds that they blatantly violated an mou they signed which states that they have to involve the union on any restructuring exercise when they totally bypassed them. That and the fact that they already worked out severance packages without the union being consulted at all. Then Keith Scotland brought up an issues that you can't simply retrenched a worker for being redundant and hire someone else to fill the same position. Might not be Rock solid cases but if they could tie them up until next election I go be happy

I think insolvency might trump all those arguments. Government could say they want their 3.5billion in taxes & royalties and because Petrotrin can't pay the company can be deemed insolvent and put into liquidation. I think this is what the government did with CL Financial but we will have to see how this plays out.

[shake d livin wake d dead]

So they marching still oarrr??

[Redress10]

So i guess jp morgan and Honeywell get blank

Even if JP Morgan and Honeywell were interested in Petrotrin, I highly doubt that they would be interested in anything OWTU has to offer and they certaininly wouldn't be interested in an inefficient overstaffed refinery. So a major gutting would take place anyhow if they were even interested. Those people aint no jokey business people. Only jokey people are trinis.

Get real

[car]

OWTU files injunction to stop Petrotrin from sending home workers
Date: Tuesday, October 2, 2018

he Oilfield Workers Trade Union (OWTU) has filed an injunction in the Industrial Court to stop Petrotrin from dismissing all its workers.

The application was filed by the OWTU's attorneys this morning.

The matter comes up for hearing tomorrow at 10 am.

The matter coincides with a march that the union will begin tomorrow, from San Fernando to Port-of-Spain, to demonstrate against the decision to close the refinery and send home workers.

The company has said that all workers will be sent home on November 30th.

The OWTU says it will issue a statement on the matter today.

I knew this was coming... Curious to know on what grounds OWTU filing this injunction since I think the government can show that the Petrotrin is insolvent so keeping it as a going concern is not an option.

Probably on the grounds that they blatantly violated an mou they signed which states that they have to involve the union on any restructuring exercise when they totally bypassed them. That and the fact that they already worked out severance packages without the union being consulted at all. Then Keith Scotland brought up an issues that you can't simply retrenched a worker for being redundant and hire someone else to fill the same position. Might not be Rock solid cases but if they could tie them up until next election I go be happy

Plus they gave OWTU the option in buy/lease the refinery. I’m sure Roget, Honeywell and JP had a plan to take care of the issues without the government spending a cent yet they refuse. So all talk and no action from the government.

[sMASH]

this one? now actually seeing this whole thing.

[neilsingh100]

Plus they gave OWTU the option in buy/lease the refinery. I’m sure Roget, Honeywell and JP had a plan to take care of the issues without the government spending a cent yet they refuse. So all talk and no action from the government.

Hate to burst your bubble but US investment banks like JPM are not interested in saving Petrotrin they only interested in making money for their investors and shareholders please don't let Roget fool you. I am not even sure OWTU can put together a business plan moreover get JPM to bankroll them.

[Redman]

Well neilsingh that's where you are wrong.

Arc light...bought the hovensa refinery in St Lucia.
Honeywell would have a ton of the right stuff.

You don't know what JPM would be interested in....so it plausible.

And if it's a good offer the GORTT should accept it.

[neilsingh100]

Well neilsingh that's where you are wrong.

Arc light...bought the hovensa refinery in St Lucia.
Honeywell would have a ton of the right stuff.

You don't know what JPM would be interested in....so it plausible.

And if it's a good offer the GORTT should accept it.

That refinery is in St. Croix in the United States Virgin Islands and has a capacity of 500,000 bbl/d and was closed on January 18, 2012 so no legacy cost to deal with in starting it up again. May be after the Petrotrin refinery is shutdown and union is no longer in the picture it could attract investors but highly unlikely investors would be interested keeping it operating in the state it is in now.

[The_Honourable]

For who want to exercise

[kstt]

How does former Petrotrin workers get new jobs when they have been ostracised by the government?

[vaiostation]

Opportunities in cocoa for Petrotrin workers


DIRECTOR of the University of the West Indies (UWI) Cocoa Research Centre, Professor Pathmanathan Umaharan, believes there are huge opportunities in the cocoa industry for severed Petrotrin employees.

With training, he says, they can find employment in the production of cocoa, packaging and marketing, cocoa processing and even chocolate production.



https://www.google.tt/amp/s/www.trinida ... a.amp.html

[De Dragon]

For who want to exercise

Stay to fack away from Couva on those days! With the closure of the Camden Bridge to Rivulet Road, and thus no alternative, it is gonna be chaos.

[mitch1980]

OWTU files injunction to stop Petrotrin from sending home workers
Date: Tuesday, October 2, 2018

he Oilfield Workers Trade Union (OWTU) has filed an injunction in the Industrial Court to stop Petrotrin from dismissing all its workers.

The application was filed by the OWTU's attorneys this morning.

The matter comes up for hearing tomorrow at 10 am.

The matter coincides with a march that the union will begin tomorrow, from San Fernando to Port-of-Spain, to demonstrate against the decision to close the refinery and send home workers.

The company has said that all workers will be sent home on November 30th.

The OWTU says it will issue a statement on the matter today.

I knew this was coming... Curious to know on what grounds OWTU filing this injunction since I think the government can show that the Petrotrin is insolvent so keeping it as a going concern is not an option.

Probably on the grounds that they blatantly violated an mou they signed which states that they have to involve the union on any restructuring exercise when they totally bypassed them. That and the fact that they already worked out severance packages without the union being consulted at all. Then Keith Scotland brought up an issues that you can't simply retrenched a worker for being redundant and hire someone else to fill the same position. Might not be Rock solid cases but if they could tie them up until next election I go be happy

Does not matter it will be thrown out like the waste of time proposal they submitted ....that was such a Joke,
Ultimately the Solvency stare of the company is the highest criteria. the Petrotrin Board have already justified this.

This useless Union is just trying to delay and give the impression they have some level of power.

[tr1ad]

Opportunities in cocoa for Petrotrin workers


DIRECTOR of the University of the West Indies (UWI) Cocoa Research Centre, Professor Pathmanathan Umaharan, believes there are huge opportunities in the cocoa industry for severed Petrotrin employees.

With training, he says, they can find employment in the production of cocoa, packaging and marketing, cocoa processing and even chocolate production.



https://www.google.tt/amp/s/www.trinida ... a.amp.html

yuh cyah coast cocoa morney dawgggg

[Redman]

I would ask the union for an upfront payment and hand them the keys-with KPIs in place.

If they have JPM and Honeywell....let them have at it.

If the GORTT is not in the business-the union is some one elses problem.
If they fail ...continue on.

[Allergic2BunnyEars]

http://www.guardian.co.tt/news/ey-detai ... 38da65b0c1



Ernst and Young: Details sketchy on Petrotrin’s future




Ernst and Young has ob­served that de­tails of the way for­ward for Petrotrin are sketchy at best, al­though it ac­knowl­edged that Fi­nance Min­is­ter Colm Im­bert did of­fer some in­sight in­to the Gov­ern­ment’s plans for a prof­itable and in­ter­na­tion­al­ly com­pet­i­tive en­ti­ty dur­ing Mon­day’s Bud­get.

Im­bert told the coun­try the clo­sure of the re­fin­ery was the on­ly com­mer­cial­ly sound and vi­able op­tion, that ex­plo­ration and pro­duc­tion ac­tiv­i­ty would be ag­gres­sive­ly pur­sued through a new lean and stream­lined en­ti­ty of some 800 em­ploy­ees to in­crease cur­rent crude pro­duc­tion from 40,000 to 60,000 bar­rels per day. He al­so in­di­cat­ed that they would es­tab­lish a ter­mi­nal busi­ness with an ad­di­tion­al 200 em­ploy­ees to im­port fin­ished pe­tro­le­um prod­ucts in­clud­ing mo­tor gaso­line, diesel, avi­a­tion fu­el, LPG and oth­er de­rived and re­fined prod­ucts.

Ask­ing the ques­tion “how did we ar­rive at this point,” Ernst and Young not­ed that while the “li­on’s share of the blame in the pub­lic do­main has been placed on the over­sized and rich­ly com­pen­sat­ed work­force” with an an­nu­al wage bill of TT$2.2 bil­lion and an “un­co­op­er­a­tive and hos­tile in­dus­tri­al re­la­tions part­ner” in the OW­TU.

“The sheer size of this fail­ure sim­ply means that the union can­not sole­ly be the re­spon­si­ble par­ty,” Ernst and Young not­ed.

Af­ter con­duct­ing what it said was a thor­ough analy­sis, Ernst and Young, in iden­ti­fy­ing fac­tors which led to the clo­sure of the re­fin­ery, said con­sid­er­a­tion should be giv­en to the World GTL project which cost the coun­try TT$3.15 bn and which was sold for TT$235 mil­lion, the gaso­line op­ti­mi­sa­tion pro­gramme which was es­ti­mat­ed to cost TT$2.45 bn, but which cost TT$12.6 bn and the Ul­tra-Low Sul­phur Diesel Plant which was es­ti­mat­ed to cost TT$791 mil­lion but cost TT$2.89 bn and cur­rent­ly has been deemed struc­tural­ly un­sound and will re­quire an ad­di­tion­al TT$2.5 bn to re­solve.

Dur­ing a CNC3 pan­el dis­cus­sion on Mon­day night, Khan said had the mon­ey spent on the re­fin­ery been pumped in­to ex­plo­ration and pro­duc­tion “we would have been laugh­ing all the way to the bank to­day.”

But Move­ment for So­cial Jus­tice head David Ab­du­lah, al­so a pan­el­list, re­mind­ed him that “the irony is that a PNM gov­ern­ment made the de­ci­sion which de­vel­oped the debt, that was all on your watch and you can­not es­cape re­spon­si­bil­i­ty.”

In its analy­sis, Ernst and Young al­so ob­served that a pas­sive Ex­plo­ration and Pro­duc­tion pro­gramme had con­tributed to the “demise of crude oil pro­duc­tion, the ex­or­bi­tant crude im­port bill and the con­trac­tion of the re­fin­ing mar­gins.”

Ernst and Young al­so ex­pressed con­cern that “po­lit­i­cal nepo­tism in the em­ploy­ment prac­tices at the com­pa­ny, to­geth­er with the ro­ta­tion­al po­lit­i­cal ap­point­ments at the board of di­rec­tors” had al­so con­tributed to “poor gov­er­nance.”

Ac­cord­ing to the ac­count­ing firm, there are many unan­swered ques­tions if the coun­try is to un­der­stand the way for­ward. It is seek­ing an­swers on “what is the all-in cost of the clo­sure of Petrotrin over and above the es­ti­mat­ed ter­mi­na­tion pay­ment of TT$2.6 bn? What are the medi­um to long-term plans for the re­fin­ing as­sets? What mea­sures would be put in place to en­sure the ef­fi­cient and cost-ef­fec­tive pro­cure­ment of the fin­ished pe­tro­le­um prod­ucts?”

In ad­di­tion, it wants to know how the Gov­ern­ment in­tends to man­age the volatil­i­ty of prices.

“What is the quan­tum of re­serves of fin­ished pe­tro­le­um prod­ucts that must be main­tained for strat­e­gy pur­pos­es and how would the arrange­ment gov­ern­ing the ex­plo­ration and pro­duc­tion busi­ness be man­aged?” E&Y asked.

The ac­count­ing firm said this ex­er­cise would re­quire “sig­nif­i­cant strate­gic thought, clin­i­cal ad­her­ence to best prac­tices in gov­er­nance and ef­fec­tive ex­e­cu­tion to avoid the mis­takes of the past.”

The E&Y analy­sis ex­pressed the hope that “the open wounds from this fi­nan­cial fi­as­co that ex­ist to­day would be in­deli­bly etched in our minds and en­sure that suit­able sys­tems and con­trols are im­ple­ment­ed go­ing for­ward.

[shake d livin wake d dead]

Seeing pics of the march...remind me what this going to do? Shitkickers in cold breeze and owtu members bunning in d hot sun...mind blown

[matr1x]

Seeing pics of the march...remind me what this going to do? Shitkickers in cold breeze and owtu members bunning in d hot sun...mind blown

At least they doing something

[rebound]

Any pics from the march today?

[aaron17]

Are they going to march on the roads or assemble at points?

[The_Honourable]

'Mother of all marches' begins in South



The historic three-day “mother of all marches” got underway today under a broiling mid-morning sun as hundreds of Petrotrin workers began the long trek which will take them from the Pointe-a-Pierre roundabout to the Brian Lara Promenade on Friday.

The march also attracted several Opposition politicians including UNC MPs’ David Lee and Rudranath Indarsingh as well as COP leader Carolyn Seepersad-Bachan.

The march brought together labour leaders from other trade union federations, most notably NATUC and PSA president Watson Duke who said although the labour movement may appear “fractured” in the public’s eyes, they were always “united” whenever the movement was threatened by outside forces.

Source: https://newsday.co.tt/2018/10/03/mother ... -in-south/