N Touch
Wednesday 19 June 2019
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Letters to the Editor

Time to shut down Petrotrin

THE EDITOR: The Petrotrin refinery needs to be shut down as it is probably the highest user of foreign exchange in TT. To keep the refinery running the average crude oil imported into the country in May was 86,000 barrels a day.

Shutting down the refinery would save TT millions and Pointe-a-Pierre could then be converted into prime high-end real estate.

An additional US$300 million needs to be spent on this refinery to bring the products produced to world specs by 2020, or else this refinery would only be able to supply TT with fuel.

Petrotrin presently has no drilling rigs working onland or offshore, as the last working rig’s contract ended in June.

Production at Trinmar will definitely decline without a rig working there.

Obviously Petrotrin is over-staffed and its employees are overpaid. Just the overtime cost of the refinery every month is $22 million.

Petrotrin should just be an exploration and production company and get out of the refining business. Sell all the iron/steel from the refinery to local scrap dealers.

To increase production Petrotrin should have two rigs drilling onland and one drilling at Trinmar.

Petrotrin has become another Caroni Ltd and needs to reduce staff and become efficient and it can only happen with the union’s support.


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