Petrotrin refinery shut down

[zoom rader]

SAHADEO!? after what happen at the port authority? LOL!

Any of these members qualified in Energy matters?

NO

But they can lick 1% and Rowlee arse good

[Redman]

Have to agree with ZR

This is the most strategically important process and decision in our history...and we have a bunch of no names at the wheel.

[Dizzy28]

He doesn't lose much for them though. Wonder if they keeping him on CAL's board as well.

Long time balisier lawya

Michael Quamina...who he related too

[zoom rader]

Have to agree with ZR

This is the most strategically important process and decision in our history...and we have a bunch of no names the wheel.

dem probably never change oil in their car by themselves

[antlind]

SAHADEO!? after what happen at the port authority? LOL!

Any of these members qualified in Energy matters?

It’s not what you know but who you know. Damn shame.

[16 cycles]

why did Espinet fall out of favor?

[Redman]

I understand that he disagreed with the directives of political directorate.

His release implied that as well.

Looks like a sheit decision coming.

[Ben_spanna]

another puppet gets his strings severed!

[The_Honourable]

Espinet seems to be strictly a dollars and cents kinda guy. Will make the harsh decisions if that means shutting down and sending home workers.

It's not new that Espinet wants to do the "right" thing from a business point of view but the cabinet blocks him as they think from a political point of view. His attempt to get rid of Paria together with the refinery was a glaring example.

He took licks from the opposition, union and the public. Some money making now so Espinet who will be remembered as the one who "killed" petrotrin got future endeavored and is time for the boys to eat ah food.

[gastly369]

Didn't kill petro alone....

[airuma]

another puppet gets his strings severed!

More like the string got taut and snapped because the puppet was not moving, similar to Terrence Farrell.

[hydroep]

SAHADEO!? after what happen at the port authority? LOL!

Any of these members qualified in Energy matters?

At this rate doh be surprised if Growlers put Marlene and Bamsee Squeezer there too...

[Ben_spanna]

put who where???
Steups!

In NO country should anyone under criminal investigation or facing charges for corruption be allowed to hold ANY seat or have any position of Authority.

I guess the workers who were dismissed really have to swallow the concept that "fake oil is good to calm the nerves"

[gastly369]

Ah jus going say random shits





We going back into de business of fake oil again soonnnn..

*leaving this here to quote later on in the thread

[sMASH]

put who where???
Steups!

In NO country should anyone under criminal investigation or facing charges for corruption be allowed to hold ANY seat or have any position of Authority.

I guess the workers who were dismissed really have to swallow the concept that "fake oil is good to calm the nerves"

De man done cute the Indian parliament with so many members with charges even up to murder.

So, if I kamala family could do it, then so can pnm.

His role models are curious.

[zoom rader]

put who where???
Steups!

In NO country should anyone under criminal investigation or facing charges for corruption be allowed to hold ANY seat or have any position of Authority.

I guess the workers who were dismissed really have to swallow the concept that "fake oil is good to calm the nerves"

De man done cute the Indian parliament with so many members with charges even up to murder.

So, if I kamala family could do it, then so can pnm.

His role models are curious.

Only indian parliament i know of is in India.

[Ben_spanna]

put who where???
Steups!

In NO country should anyone under criminal investigation or facing charges for corruption be allowed to hold ANY seat or have any position of Authority.

I guess the workers who were dismissed really have to swallow the concept that "fake oil is good to calm the nerves"

De man done cute the Indian parliament with so many members with charges even up to murder.

So, if I kamala family could do it, then so can pnm.

His role models are curious.

Sigh! cant you just look at it justifying it without blaming any particular government party?
Its wrong and should be illegal- regardless of who did what when.

[Numb3r4]

SAHADEO!? after what happen at the port authority? LOL!

Any of these members qualified in Energy matters?

They are qualified enough to look after themselves.

[Numb3r4]

SAHADEO!? after what happen at the port authority? LOL!

Any of these members qualified in Energy matters?

It’s not what you know but who you know. Damn shame.

Not just who you know but who knows you as well.

[kstt]

https://trinidadexpress.com/opinion/col ... f0c83.html

[kstt]

Hope all who were clamouring for Petrotrin to shutdown because employees get too much pay, I hope you seeing the consequences of your happiness.

[zoom rader]

Hope all who were clamouring for Petrotrin to shutdown because employees get too much pay, I hope you seeing the consequences of your happiness.

Jah bless PNM

[kstt]

https://trinidadexpress.com/opinion/columnists/franklin-khan-s-strange-mentorship-scheme/article_38289a32-c478-11e9-83a0-9b96b70f0c83.html

anyone saw the ad to apply?

[toyolink]

The group of companies which have been vested with the responsibility for things once under the purview of Petrotrin are clearly in utter chaos.
T&T needs to understand that the existing condition means that the security of our fuels requirement and the possible oil revenues are in jeopardy and more than likely is going to hit us all.
This whole process, regardless of its genesis seems to have been constructed by poor business solution architects and the resultant structures mat soon come crashing down.
One wonders who really is managing the store?

[hydroep]

Nepotism, conflicts of interest...

David Lee to Rowley: Who you trying to fool?
Seeta Persad

GIVEN the government's announcement that Wilfred Espinet has been removed as chairman of Trinidad Petroleum Holdings (TPH) and as a board member of its subsidiaries, the Prime Minister must be asked: Who is he trying to fool?

UNC MP for Pointe-a-Pierre David Lee called on the PM to tell the nation what has changed, causing this sudden, out-of-the-blue removal of Espinet, when only in March he said in Parliament he had confidence in Espinet. In an address to the nation in January, too, he expressed support for Espinet.

“The Prime Minister was quite content when Espinet was undertaking his reign of destruction which resulted in over 9,000 being placed on the breadline, hundreds of businesses being closed, our fuel security being jeopardised and our national patrimony being torn apart,” Lee charged.

“When Espinet told the nation, 'All, all, all going home,' the Prime Minister didn’t utter a single word to the citizens who elected him.”

For over 11 months, Lee said, the PM sat by as Espinet engaged in "the most callous, compassionless and cruel modus operandi."

“What is even worse is, during Espinet’s tenure the PM allowed the views and calls of Espinet to supersede some of his own Cabinet members.” An upset Lee said the PM must give answers to the nation as to why he has now acted after the carnage and destruction has been done.

“The country will never forget nor forgive the hatchet job Wilfred Espinet undertook for the Rowley regime,” he said.

However overdue Espinet’s removal may be, Lee said his replacements give no confidence, comfort or hope for the growth of these entities.

The Rowley administration has placed “square pegs in round holes.” he said, and the company identified by government to be the pillar and saviour of the national energy sector will now have leaders with no experience in this field.

“How would the government achieve their plans of increased oil production, energy security, and industrial efficiency when none of these individuals have a track record of any substance within the energy sector?”

As a matter of fact, he said besides the concerns generated by the high-profile relations and family ties of some of these new appointees, the greater concern is over what he called the conflict of interest of some of these individuals. He pointed out that the new chairman of Trinidad Petroleum Holdings Ltd was also the PM’s lawyer in his defence against the "fake oil" allegations.

“Given that these investigations are still outgoing, how can he now chair the company which is a critical player in these investigations?”

He also questioned the appointment of Newman George, who besides serving on numerous boards already, was chairman of the HDC when numerous allegations were raised against housing minister at the time, Marlene McDonald.

“These appointments have not only thrown the future performance of these companies into doubt, given the lack of experience, but have further thrown their integrity into disrepute, given the questions surrounding these individuals,” Lee said.

https://newsday.co.tt/2019/08/23/david-lee-to-rowley-who-you-trying-to-fool/

[gastly369]

http://trinidadexpress-tto.newsmemory.com/?publink=1778ae6fd

[The_Honourable]

RUNNING OUT OF TIME
by Kevin Ramnarine

Yesterday at post Cab, the Minister of Finance was proud that the Espinet led board was able to refinance the $US 850 million bond but what he didnt say is persons holding almost half of the bond did not agree to the refinancing and opted to receive their money in cash last week. That meant that TPH had to take a loan for around $US 405 million to pay those bondholders. Those who opted for the rollover to 2026 did so because they got 9.75% interest. Can you get 9.75% interest for your US dollars in T&T ?

What we do not know is what were the terms of that loan. I expect we will get these details in the next session of Parliament. What we do know is the last published balance sheet of TPH indicates that the company has $TT 32 billion in total debt of which $TT 23 billion is short term debt. It is going to be a huge ask to service that debt, pay taxes, pay royalties, service operating costs, invest in drilling and upgrade infrastructure at the same time.

While that demand is on the back of TPH we have seen a big fall in oil production in the last three years and soft oil prices. There has been a 31% decline in Trinmar's production in the last three years alone. The US shale revolution is not about to let up anytime soon so we can expect the continuation of soft oil prices.

TPH also did themselves no good by discarding a lot of institutional capacity in the form of highly qualified and experienced people in the Exploration and Production side of the business. If Petrotrin's engineers and geologist were not good then why did so many of them end up in BP, Shell and overseas ?

Mr. Quamina is the third Chairman of Petrotrin / TPH since 2017. We have also had different iterations of boards and management. This cannot be good for stability. The new TPH/ Heritage boards are also lacking in Exploration and Production experience which is the core business of TPH/ Heritage. Michael Quamina has his work cut out for him. It is in the national interest that TPH succeeds. The first task is to find a replacement for Mike Wylie which is going to take several months. This is time we do not have. Time is not on our side.

[kstt]

Massy wins

[gastly369]

Hope all who were clamouring for Petrotrin to shutdown because employees get too much pay, I hope you seeing the consequences of your happiness.

X100

[Premchand1976]

Hope all who were clamouring for Petrotrin to shutdown because employees get too much pay, I hope you seeing the consequences of your happiness.

I read a company was paid $4.5M to recruit the employee that is now ill ?

In local language, " daiz plenty bribe money boi "....