Trinidad Petroleum Holdings Ltd (TPHL), the successor to state oil company, Petrotrin, has renewed its commitment to the Wild Fowl Trust. The trust, which as been in existence since 1966, is located within the compound of the former Petrotrin refinery at Pointe-a-Pierre.
Petrotrin has been the trust’s major benefactor since 2012, but since its closure and subsequent restructuring on November 30, 2018, the company was no longer in a position to sustain its support.
This week, according to a media release from the company, TPHL will hand over to the trust a cheque for $475,000 – money not paid to group chairman Wilfred Espinet for his service on the boards of the state-owned oil company and its subsidiaries. Espinet asked for the funds to be reallocated to the trust and the board agreed.
When the Petrotrin board was appointed in 2017, the directors agreed to give up 50 per cent of their fees as part of a cost-cutting measure. The chairman opted not to accept any fees.
Since the cessation of Petrotrin’s operations, the board has been seeking to reduce the trust’s dependence on the company and develop a sustainable future for it. These efforts have included consultations with private entities to provide future financial support.
"TPHL recognises and salutes the significant dedication shown and contributions made by the Wild Fowl Trust to preserving and enhancing TT’s natural environment and its precious flora and feathered fauna."
The Wild Fowl Trust is a not-for-profit, volunteer, non-government organisation, dedicated to the conservation of TT’s flora and fauna.