AZP News

 Patriotic Submits Another Bid for Refinery

The Pointe-a-Pierre Refinery at sunset. Photo/AZPNews

Patriotic Submits Another Bid for Refinery

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PATRIOTIC Energies and Technologies Company Limited submits its latest attempt for the purchase of the Pointe-a-Pierre to the Minister of Finance Colm Imbert during the wee hours of Friday.

In a release, the Oilfield Workers’ Trade Union (OWTU), which owns Patriotic, stated that its latest response was submitted at 1.42 am on Friday via email.

It stated that this was done to a request made by the Minister of Finance on January 20.

“The release stated, “We are confident that our very detailed submission will meet his favour as it demonstrates our ability to finance the acquisition price of US$500 million for Guaracara Refining and Paria Fuel Trading.

“Patriotic Energies & Technologies Co Ltd remains committed to the early restart and the successful operation of the refinery in the interest of all of Trinidad and Tobago.”

On January 20, Imbert gave Patriot a 15-day extension after its second attempt to purchase the refinery was denied by an evaluation committee.

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