economy

Petrotrin's overtime bill stands at $22 million

Despite facing a financial bind, the monthly overtime bill at State-owned Petrotrin is $22 million, while its annual wage bill to its 5,000 employees amounts to $2 billion.

This was what was revealed before a Joint Select Committee (JSC) chaired by Finance Minister Colm Imbert on Energy Affairs, as senior management of Petrotrin was yesterday interrogated into the operations of the energy company at the ANR Robinson Room, Tower D, Port-of-Spain.

T&T, Venezuela close-in on gas-supply agreement

Prime Minister, Dr Keith Rowley has met with a high-level delegation from the Bolivarian Republic of Venezuela as negotiations regarding the supply of natural gas to Trinidad and Tobago continues to progress, a statement by the Office of the Prime Minister says.

NGC: We've been trying to secure a mutually-acceptable agreement with CNC

The National Gas Company (NGC) is advising that effective Wednesday 24th January 2018, the Gas Sales Agreement between The National Gas Company of Trinidad and Tobago Limited (NGC) and Caribbean Nitrogen Company (CNC) expired.

NGC says that regrettably, and despite NGC’s best efforts, no agreement was reached with CNC on this matter.

This follows a statement by CNC this morning, indicating that the plant is being closed immediately.

Financial constraints force closure of Kalypso Revue

Fifty-five years after it was formed by legendary calypsonian Lord Kitchener, the Kalypso Revue tent is set to close due to financial constraints.

The announcement was made by the tent’s head Michael “Sugar Aloes” Osuna during a press conference at its traditional home at SWWTU Hall on Wrightson Road, Port-of-Spain, yesterday afternoon.

Osuna explained the show was affected by a number of factors including meagre corporate sponsorship, small audiences and a reduction in Government funding.

Over 400 jobs impacted as Caribbean Nitrogen Company shuts down Point Lisas ammonia plant

Caribbean Nitrogen Company (CNC) today announced that it has been forced to immediately shut down its ammonia plant on the Point Lisas Industrial Estate in Trinidad.

The company says the shutdown is a result of action taken by the National Gas Company of Trinidad and Tobago (NGC) to cut off gas supply to the plant.

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