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Wednesday 12 August, 2020

Newspaper's Heritage figures wrong, Trinidad Petroleum says

Figures contained in a newspaper report on Sunday stating that Heritage Petroleum Company earned a half a billion dollars in four months are incorrect and misleading.

That’s according to Trinidad Petroleum Holdings Limited (Trinidad Petroleum) which claims that the article published in the Sunday Guardian incorrectly stated that the company made an after-tax profit for the first four months of its operations of approximately $565 million.

According to a statement from Trinidad Petroleum, a review of the company’s financial results of its subsidiaries is currently underway and interim unaudited financial results are expected to be published by the end of May 2019.

The company also noted that that the article made reference a presentation made to investors, and quoted Heritage CEO Mike Wylie extensively, “potentially giving readers the impression that Mr. Wylie was interviewed for the article”.

Stating that it wishes to set the record straight to ensure there is no misunderstanding, Trinidad Petroleum said Wylie was not interviewed for the article.

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