Monday 24 February, 2020

NP does not deny loss of US$500,000, says it was under PP Government

The Trinidad & Tobago National Petroleum Marketing Company Limited (NP) has responded to a report which said it lost US$500,000 in a deal that went sour regarding the sale of bunker fuel.

The Trinidad and Tobago Guardian made the revelation in an article published on Monday titled “NP loses US$500,000 in bad deal”. The report named an international company called Black Gold. The journalist also referenced an internal audit which highlighted questionable transactions with fingers pointed at the board.

In a statement issued on Tuesday, NP did not deny the claims but said the article failed to state the date of the transaction which occurred during the period December 2014 to January 2015, under the last administration.

Regarding the internal audit dated March 3, 2015, that was referred to, NP said no individual was found guilty of irrefutable wrongdoing.

The petroleum company added that Black Gold was a foreign Company that was found to have no assets while its Principals could not be located.


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