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.