TPHL chairman quits

CHAIRMAN of Trinidad Petroleum Holdings Ltd Michael A Quamina has resigned.

He announced his resignation in an internal letter on May 1.

"I want to express my sincere admiration, appreciation and gratitude to each of you," he said.

"This journey has been exciting and fulfilling and you all have been amazing travel companions through the ups and downs, highs and lows, the good times and even the challenging ones.

"Do not ever forget that you are a part of a strong and important organisation that, in whatever form it may take, plays a pivotal role in shaping our nation’s future."

In 2018, Petrotrin was shut down, which included the mothballing of the Guaracara refinery.

The Trinidad Petroleum Holdings Ltd was established that same year to manage TT's oil and gas assets following the dissolution of Petrotrin.

It has four subsidiaries – Heritage Petroleum Company Ltd, Paria Fuel Trading Company Ltd, Guaracara Refinery Ltd and Petroleum Company of TT (Petrotrin).

The previous People's National Movement (PNM) signalled its intention to sell the refinery and announced Nigerian company Oando PLC as the preferred bidder for the refinery.

The refinery was a major topic of political discussion in the lead up to the April 28 general election.

The incoming United National Congress (UNC) administration, led by Prime Minister Kamla Persad-Bissessar, has said it will re-open Petrotrin and restart the Pointe-a-Pierre refinery.