Kamla: Petrotrin closure TT's greatest economic debacle

Leader of the Opposition Kamla Persad-Bissessar has called on the Prime Minister to account to citizens for how the successor companies of Petrotrin have fared in the months since its closure on November 30.

“Given that Petrotrin’s operations were a central part of the social and economic fabric of several communities in the southwest peninsula, the shutdown of the company seven months ago has resulted in the devastation of many communities.”

In a statement yesterday she described as “unacceptable” that Dr Rowley had chosen to report on June 27 to PNM supporters (at a public meeting in Point Fortin) on this national issue.

“We call on Rowley to tell the country when the audited financials of Petrotrin for its 2018 financial year, which ended nine months ago, will be released. Is the Government’s reluctance to release these accounts an indication that they have something to hide? There has been speculation that the company actually recorded a profit in 2018.” She said the Prime Minister should also state the current production at Trinmar, a major part of the Point Fortin community.

“There has been no drilling in Trinmar in over three years. As a result, the production levels of this valuable national asset have plummeted under the watch of Dr Rowley, Stuart Young and Franklin Khan. This collapse in production in the producing assets of what was Petrotrin (now Heritage Petroleum) is a matter that is glossed over by this PNM Government who is more concerned with Shell.”

She also said Rowley should give clarity about the mothballing of Atlantic’s Train 1, in light of BPTT’s announcement in May 2019, which indicated there was no gas for Train 1 and as a result, it may have to be mothballed come 2020. If Train 1 is mothballed there will be consequences for Point Fortin including job losses and loss of economic activity, she warned.

Persad-Bissessar said despite the Prime Minister’s recent travels to the Hague, London and Houston, it seems likely that natural gas production will fall in 2020 compared to 2019 and this comes with significant consequences for Point Fortin’s main employer, Atlantic.

“Regarding the successors to Petrotrin, it is hoped that the Prime Minister will give the country the facts about the performance of these companies. Given the massive loss in oil production, the closure of the refinery, the loss of thousands of jobs, the closure of contractors and the general economic depression in south Trinidad, it is clear that in his haste to close Petrotrin, Dr Rowley has caused the greatest economic debacle in the history of TT.”