A question for Energy Minister

THE EDITOR: It has been alleged, based on claims circulating on social media, that the fuel bunkering licence is held by a private company with no proven track record or relevant experience in the industry.

This raises a critical question that Energy Minister Stuart Young needs to answer: why isn’t this licence under the control of Paria? Given that this is a highly lucrative offshoot of the Petrojam project, it could have significantly boosted Paria’s profitability.

Consider the global average bunkering charge, which hovers around US$450 per metric ton on the lower end. With 500,000 barrels of fuel oil equating to roughly 70,000 metric tons, the potential revenue is substantial. Do the maths.

Clearly, the citizens of TT need to be told.

RICHARD TRESTRAIL

via e-mail