AZP News

Khan: Foreign operator for Pointe-a-Pierre Refinery

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By AZP Staff

A foreign operator will “most likely” get to run the Guaracara Refining Company Limited. This was revealed by Energy Minister Franklin Khan at the Peoples National Movement meeting titled Let’s Talk Energy in Point Fortin last evening (June 27).

He said the former refinery of the now-defunct Petrotrin at Pointe-a-Pierre “is very likely to be leased to a private operator. Very likely, an international operator because there is no indigenous capacity to run a refinery of that size and complexity. We will be focusing on Heritage.”

More than 50 bids including one by the Oilfield Workers and Trade Union (OWTU) were received by Government to take over the refinery. Khan said under the new operator former Petrotrin workers who received “attractive severance packages” would be able to secure jobs.

The minister said the decision to close Petrotrin saved the country from being downgraded by international rating agencies.
Khan said Petrotrin’s dire state was caused by bad investments in the Gas Optimization Project, the Ultra Low Sulphur Diesel plant and the World Gas to Liquid plant.

He said Petrotrin would have lost $2 billion yearly if it had been allowed to continue.
And Prime Minister Dr. Keith Rowley was booed by former Trinmar workers when he arrived at the meeting.

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