Roget hopeful over refinery bid

The Petrotrin refinery at Pointe-a-Pierre.
The Petrotrin refinery at Pointe-a-Pierre.

OILFIELDS Workers' Trade Union president general Ancel Roget says the union is confident over the process to bid for the former Petrotrin refinery at Pointe-a-Pierre.

He said the union is bound by non-disclosure agreements on the issue, but commented, "Suffice to say there is a process and we are involved in it and we feel confident about it."

He was speaking Monday at the launch of Labour Day 2019 at the Communication Workers Union offices, Port of Spain.

He said the issue was important as it speaks to the country's economic survival and acquiring foreign exchange. He added there was also the issue of ensuring the refinery remains in local hands.

"(But) we see Labour Day as bigger and more important and more relevant to the significance of the development of going forward in TT."

On Friday in the House of Representatives Finance Minister Colm Imbert reported the initial field of 70 companies vying to buy the mothballed former Petrotrin refinery had been whittled down to 25 "serious" bidders. He made the announcement while piloting a bill to authorise the functioning of Paria Fuel Trade Company which amends the Petroleum, Petroleum Production Levy and Subsidy and Income Tax Acts.

Imbert said 45 companies had been removed from the list of bidders by way of a pre-qualification process. He also said no "fly-by-night company" could run the refinery, which is a billion-dollar operation.

Imbert described 25 bidders as a “huge number” and also reported the deadline for bids is June 15 or 16.


"Roget hopeful over refinery bid"

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