Roget: Patriotic submitted 4th bid for refinery

Patriotic Energies and Technologies Ltd chairman Ancel Roget stands by his statement that the company submitted a fourth proposal to the government to buy the Pointe-a-Pierre refinery.

On June 23, the Prime Minister said "in a matter of a day or two" an invitation would be issued for new proposals to acquire the refinery.

Naparima MP Rodney Charles had asked Dr Rowley to "state the status of Patriotic Energies and Technologies’ proposal to acquire the Petrotrin refinery, given that its president indicated that a new proposal was submitted."

Rowley said, "To the extent that the union has another proposal to put in an invitation that is due to go out in a day or two, that proposal is not before the Cabinet at this time, because the invitation has not yet gone out.”

Oropouche East MP Dr Roodal Moonilal had also asked if Patriotic could submit a new proposal, as it has had three rejected thus far.

Rowley said, “We have no control over Patriotic or any other interested party, so I don't know why the verb 'allowing' is being used. That is meant to mislead.

"We have no control over what Patriotic does. We put out an invitation there and by its very nature, it's open to every interested party.

"So if Patriotic is interested to submit again, then they're free to do so."

Speaking at a press conference in San Fernando on Monday, Roget said, “Despite what the Prime Minister or despite what any one of them said, there is a proposal.”

He said this one “deals with their issue of lien.”

The company’s last proposal was rejected on October 30, 2020 but after an appeal, an evaluation committee reviewed it, but to no avail.

The committee concluded Patriotic’s relationship with Trafigura to fund the process of restarting the refinery was “workable,” but to initially buy the plant, the RBC/Patriotic configuration was not.

In addition, it was not feasible for the Government to fund the removal of the US$500 million lien on the refinery.

“Remember, the lien was always the problem, and that proposal treats with that particular issue. The lien in that proposal would have been taken care of.

“The government would not have to put out any – not one cent at all. But generally speaking, that proposal will take us out of the morass that we are in right now.”

Roget said the government did not respond to Patriotic's most recent proposal.