Petrotrin to be split into two

Carla Bridglal

From March 1, Petrotrin will be splitting into two distinct business units, one focusing on upstream production and the other on downstream.

The news was announced yesterday at a Parliamentary Joint Select Committee on Energy Affairs, by director Nigel Edwards, who presented to the committee on the Board’s strategy for taking the company on “A New Way Forward.”

Edwards this morning clarified for the Newsday that final decision was taken yesterday at a Board meeting and while the transition will begin at the start of next month, it will be fully executed within an 18-month period where the company will seek to streamline its operations to become more efficient, and hopefully, profitable.