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Faria: What is Petrotrin’s strategy

Sasha Harrinanan Wednesday, January 11 2017

PETROTRIN and the country, may have dodged the gas shortage bullet on Monday when the State-owned company and the Oilfields Workers Trade Union (OWTU) reached an agreement for a five percent salary increase for the period 2011 to 2014. The question remains, says CEO of the TT Chamber of Industry and Commerce (TT Chamber), Gabriel Faria, “What is Petrotrin’s strategy to turn the business around?” “Many energy companies in Trinidad and throughout the world have had significant loss...

they have reorganised their business so that they can effectively produce a product at this new (low) price and not have losses.

They’ve restructured their business to be able to operate in this new paradigm.” Speaking with Newsday yesterday, Faria said he therefore has some questions for Petrotrin.

“Has Petrotrin done this? Has Petrotrin really looked at how they can operate in this new normal?’ I don’t think that energy prices are going to go up in the short-term, so we have to now look at how we run, not just our energy ventures but our country in this new normal...What is the strategy to turn the business around? That’s what we wait with baited breath to hear. We’re also waiting for details about the agreement, so that we can speak to the matter properly,” the TT Chamber CEO stated.



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