Business

Chairman: Importing fuel will not hike prices

The Government will now determine whether there are price hikes in fuel supplies to consumers when Petrotrin shuts down its refinery and begins importing fuel.

This was the word from Petrotrin board chairman Wilfred Espinet evening, after he completed a busy day in which he held talks with the OWTU and other unions representing Petrotrin workers and detailed the company’s restructuring plan, which includes shelving the refining business and the future importation of the refined products of gasoline, diesel and aviation fuels.

Vasant: Petrotrin job losses will cause severe hardship

Former government minister Vasant Bharath says the loss of jobs at Petrotrin will undoubtedly cause severe hardship and social and economic dislocation.

He says it is ironic that the decision to shut down the refinery, comes during the week T&T celebrates Independence Day.

Bharath issued the following statement on Tuesday.

"It is noteworthy that the announcement of the planned shutdown of the refinery of Petrotrin has emerged in the week of the observance of Trinidad and Tobago's 56th Anniversary of political independence.

Roget predicts increase in fuel prices

Predicting an exponential increase in fuel prices at the pumps if government succeeded in selling the Pointe-a-Pierre refinery, president general of the Oilfield Workers Trade Union president general Ancel Roget is calling on all citizens to join with the OWTU to stop the government from selling T&T's prized national oil assets.

Petrotrin confirms it will end oil-refining operations

Petrotrin has confirmed the news that it is ending oil-refinery operations.

The company's management disclosed the news to the media earlier today after discussions with the unions.

The company late issued this statement.

"The Petrotrin Board of Directors met on 2018 Tuesday August 28 with its employee representative unions and the Company’s management to announce plans to end Petrotrin’s oil-refining operations at Pointe-a-Pierre and to redesign entirely its Exploration and Production business.

Kesar: Not true that OWTU played role in purported sale of Petrotrin refinery

Trinmar’s Branch President Ernesto Kesar is debunking any notion that the Oilfield Workers Trade Union (OWTU) had anything to do with the purported sale of Petrotrin’s refinery.

In an interview on Tuesday morning about an hour before the OWTU went into a meeting with Petrotrin’s Board, Kesar said the lives of over 100,000 people were hanging in a balance.

He said about 3,400 workers will be directly affected if the PNM government sold or privatized Petrotrin’s operations.

"Frustrated" Petrotrin workers gather to hear company's fate

It was a feeling of gloom and doom outside the Pointe-a-Pierre refinery on Tuesday morning as workers received news that the refinery will be shut down and some 700 workers will be sent home. 

From as early as 6 am, an Oilfield Workers Trade Union representative stood outside the main gates advising workers that the union will be addressing them outside Beaumont Hill at 12 midday to give an update on the current state of the troubled oil company. 

Some of the workers appeared harassed and frustrated.

Others were angry and a few were nonchalant.   

Don't bet on it - "NLCB" Twitter account with porn tweets is fake

A Twitter account in the name of the National Lotteries Control Board (NLCB), has been declared as a fake account.

The account - @NLCBTT - has posted dozens of tweets in the last five days, including some of pornographic nature.

The NLCB has said that it does not have a Twitter account and that the page is a fake representation of the company.

The photo on the account is that of the NLCB's Play Whe logo.

The account has been posting various tweets from what appears to be local news, to sales of items and links to the Pornhub website.

ATTIC's advice on making insurance claims after earthquake

The Association of Trinidad and Tobago Insurance Companies (ATTIC) is giving advice to persons whose property sustained damage by Tuesday's powerful earthquake.

ATTIC says losses sustained within 72 hours of the event, which includes aftershocks, will be treated as one.

The following is a statement ATTIC issued on Thursday.

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