TSTT’s decision to retrench over 500 workers (and a promise of more to come from the company’s non-unionised and senior employees) will come as no surprise to those who follow the parlous state of many of T&T’s state-owned companies.
The first export of crude oil from Petrotrin was loaded onto the tanker Hellespont Progress on Tuesday 30th October 2018 and is listed as being destined for Panama on marine tracking websites. According to a press release from Petrotrin dated 1st November 2018, the tanker was loaded with approximately 500,000 barrels of crude oil which was purchased by Trafigura Oil Traders, one of the world’s major commodity traders.
As you know, after three days of intense rains, many areas in T&T have flooded.
We have previously worked with many members and partners to provide regional disaster relief after Hurricanes Irma and Maria and to assist local victims of flooding last year. Once again the Joint Chambers will be working together on disaster relief: AMCHAM T&T, The Energy Chamber, The Trinidad & Tobago Chamber, TTCSI & TTMA.
We would like to do what we can to help the victims of the most recent floods. Every donation helps.
The current legal wrangling at the Industrial Court and the Appeal Court over the imminent closure of the oil refinery and the injunction preventing TSTT from consolidating its residential fibre optic cable business has highlighted the need for serious reform to Trinidad & Tobago’s industrial relations legislative framework. The Energy Chamber of Trinidad & Tobago has been working closely with our colleagues in the other major Chambers and Associations over the past few years to propose a new approach to industrial relations, based on respect and a collaborative approach that aims at a mutually beneficial outcome rather than the out-dated adversarial system. We fully support the calls for change made last week by the Trinidad & Tobago Chamber of Industry and Commerce and we are united in this endeavour.
The Board of Directors of Petroleum Company of Trinidad and Tobago Limited (Petrotrin) met on Thursday (2018 September 27) with the Oilfields Workers’ Trade Union (O.W.T.U.) in a follow-up to a meeting last week when the Union presented, for the Board’s review, the O.W.T.U’s plan to restructure Petrotrin. In addition to the restructuring plan, the Union had also tabled a proposal for leasing the Pointe-a-Pierre refinery.
Over 200 volunteers came out on Saturday 15th September to support this event by dedicating their time and efforts by removing and recording every single piece of garbage collected at the beach. The data collecting exercise assists with research information and policy development for the marine environment.
The decline in Trinidad and Tobago’s liquefied natural gas (LNG) exports over the past few years, on the back of falling natural gas production, has seen big declines in the volume of exports to Argentina and Brazil. Volumes destined for Trinidad and Tobago’s other major markets, such as Chile, USA, Central America and the Caribbean have remained relatively robust.
Over 36 years after being discovered, the Iguana gas field in Block 1(a) is on track to begin production in 2018. Local drilling contractor, Well Services Petroleum Company Limited (Well Services), has announced the completion of a three-well development campaign for the Iguana field, which is owned and operated by DeNovo Energy Limited (DeNovo).