Despite facing a financial bind, the monthly overtime bill at State-owned Petrotrin is $22 million, while its annual wage bill to its 5,000 employees amounts to $2 billion.
This was what was revealed before a Joint Select Committee (JSC) chaired by Finance Minister Colm Imbert on Energy Affairs, as senior management of Petrotrin was yesterday interrogated into the operations of the energy company at the ANR Robinson Room, Tower D, Port-of-Spain.
Petrotrin says it is not associated with oil that has been sighted along Alexander Street in San Fernando.
Petrotrin said the source of oil has remained a mystery for over a decade but notes that it does not have any installations in that area.
Petrotrin issued the following statement on Thursday;
"Following reports of oil being observed along Alexander Street in San Fernando, personnel from Petrotrin’s Health Safety and Environment (HSE) Department visited the area and are conducting investigations.
The Oilfield Workers’ Trade Union (OWTU) has mobilised Petrotrin workers today in a show of force.
It comes as the union signals its intention to oppose any attempt by the government to retrench workers and privatise state-owned Petrotrin.
The mass mobilisation was expected to began at 7 am at Petrotrin’s Trinmar operations in Point Fortin and will continue at the Pointe-a-Pierre refinery on Friday.
Prime Minister Dr Keith Rowley today received a status report from the Petrotrin board detailing the progress made in the months since its appointment in September, the Office of the Prime Minister said.
The meeting featured discussions on the various options available as work continues towards restructuring the State-owned company.
The Prime Minister's Office said that throughout 2017 Government continued its systematic review of the operations at Petrotrin.
A&V Drilling which has been at the centre of an oil production and receipt discrepancy, has been fired by Petrotrin.
Petrotrin announced the termination of the contract via a media statement today.
"Petrotrin’s Board of Directors today announced that the Company has given notice of the termination of contract to the lease operator associated with the discrepancies in reported oil production and actual receipts revealed by its Internal Audit Department earlier this year.