Monday 14 October, 2019

Petrotrin to review OWTU proposal

Petrotrin Chairman Wilfred Espinet speaks at a media conference on September 18, 2018 at the Hyatt Regency Hotel, Port of Spain. Photo: Darlisa Ghouralal.

Petrotrin Chairman Wilfred Espinet speaks at a media conference on September 18, 2018 at the Hyatt Regency Hotel, Port of Spain. Photo: Darlisa Ghouralal.

The Board of Petrotrin is currently reviewing a proposal from the Oilfields’ Workers Trade Union (OWTU) which the union has presented as an alternative to closing the company’s Pointe-a-Pierre refinery.

In a three-hour encounter on Wednesday, both parties met to discuss the union’s alternative plan for restructuring the business.

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As part of the Board’s plan to move the State-owned oil company to profitability, it has proposed that Petrotrin’s refinery be closed as the company exits the refining business and creates new Exploration & Production and Terminal businesses.

The Petrotrin Board shared this plan with the Union on August 28.

The OWTU subsequently submitted an alternative plan for the Board’s consideration.

Petrotrin’s Chairman Wilfred Espinet said the Board will need some time to go over the Board’s proposal.

“We received the Union’s alternative proposal including the suggestion of leasing the Refinery to the O.W.T.U. and as such a number of questions were raised. We need some more time to analyse their proposal in more detail.”

Both parties have agreed to meet again next Thursday.

 

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