At the end of August, NOC Petrotrin announced it would cease refining operations before the end of the year, citing the need to balance finances and make its operations more sustainable amid major losses and rising debt.
However, OWTU has been working to convince Petrotrin’s board to keep the refinery open. According to president-general Ancel Roget, the union has received calls from several interested investors looking to provide a lifeline for the country’s refining sector.
“We are saying there can be a lease arrangement where the people of Trinidad and Tobago can still own the assets, and at the same time, they can get something out of it, and where people can be gainfully employed and where you can have a profitable company on the E&P side, and of course in some sort of joint venture arrangement with the refinery side,” Roget told reporters.
A follow-up meeting has been scheduled for next Thursday between the NOC and OWTU to discuss the proposal.
Petrotrin had initially said that 1,700 workers would be laid off due to the closing of the facility, but earlier this week, Wilfred Espinet, the NOC’s chairman, said that figure would be closer to 3,500 as the company undergoes a complete restructuring process.
SkyPower Global has signed a 1-GW power purchase agreement with state-owned Zambia Electricity Supply Corp Read More
The government of Angola has approved Afentra’s acquisition of a 12% non-operating interest in offshore Block 3/05 and a 16%… Read More
TotalEnergies has agreed with US player Vanguard Renewables to jointly develop renewable natural gas (RNG) in the USA, the French… Read More
Canadian exploration player Sintana Energy has expanded in Namibia’s Orange Basin with a deal to acquire up to 67% in… Read More
The UAE’s AD Ports Group has signed a concession agreement to operate and upgrade Angola’s multipurpose Luanda Port, the Emirati… Read More
UK-based Trident Energy has signed agreements with Chevron Corporation and TotalEnergies to obtain working interests in the Moho-Bilondo, Nkossa, Nsoko… Read More
This website uses cookies.