Petrotrin

Point Fortin residents seek medical treatment following strong oil odour

Several residents of Point Fortin, including school children, have been forced to undergo medical treatment due to strong odours believed to have stemmed from an oil spill.

Petrotrin has issued a statement saying officials are currently investigating reports of strong hydrocarbon odours in the Techier Village and Mahaica communities neighbouring its Point Fortin operations.

Petrotrin says that upon receiving initial reports earlier today, the company’s emergency responders visited the identified areas and commenced investigations.

PM appoints committee to review Petrotrin operations

Prime Minister Dr Keith Rowley has presented instruments of appointment to a seven-member committee tasked with conducting a review of the operations of the Petroleum Company Limited (Petrotrin).

The appointment follows a Cabinet decision made on February 23rd 2017, to review operations at the company in light of falling revenues, allegations of mismanagement and decreasing oil prices worldwide.

The committee is tasked with making recommendations for restructuring of the company and its first report is scheduled to be submitted on June 1st 2017.

Ramnarine: Imbert's Petrotrin statement misleading

Former Energy Minister Kevin Ramnarine says Finance Minister Colm Imbert's statement on the financial situation at Petrotrin is misleading.

The former Minister says the minister ought to have been more responsible.

The following is Ramnarine's statement.

"The March 6th 2017 statement by the Minister of Finance regarding the accounts of Petrotrin is misleading. It also suggests that the Minister has now arrogated onto himself the role of the external auditor of Petrotrin.

The facts are as follows:

Minister clarifies true amount that Petrotrin owes the Government

Finance Minister, Colm Imbert says the amount owed by Petrotrin to the Government is 1.269 billion dollars.

The Minister issued a statement Wednesday afternoon to clear up the figures.

"To avoid any misunderstanding, the Minister of Finance wishes to clarify the NET amount of taxes and royalties owed by Petrotrin to the Government of the Republic of Trinidad and Tobago.

Imbert: Former Government hid $4.2 billion in losses by Petrotrin

Acting Minister of Energy, Finance Minister Colm Imbert has outlined the debts Petrotrin owes to the state.

The Minister told the Senate Tuesday morning that Petrotrin owes the state royalties amounting to $1.2 billion.

He added that Petrotrin owes the Board of Inland Revenue $1.78 billion.

He told the Senate that the Government only recently found out that the previous government had been hiding losses of $4.2 billion over 5 years.

Video clip below.

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