Petrotrin pays $2.7 billion to employees as company closes

Petrotrin says it has today paid out $2.7 billion to former workers as the company's operations come to an end.

Petrotrin issued a statement on the matter on Friday afternoon.

"Today marks the end of Petrotrin’s operations and is an understandably difficult period for all of those affected.

Consistent with its commitment, the Company has today disbursed $2.7 billion in exit and other payments to its employees.

CNC3 drive-through reveals unsecured Petrotrin compound

CNC3 today decided to check on reports that there is no security guarding the assets at Petrotrin's Point-a-Pierre compound as the company was officially closed today. We found the reports to be true.

The drive-through was conducted purely for news-related purposes and to demonstrate to the authorities the critical need to protect the country's assets.

42 hired by replacement companies, 18 are former Petrotrin workers

Minister of Energy and Energy Industries, Franklin Khan has confirmed that 42 people have so far been hired to fill places in the three new companies that will replace Petrotrin.

The minister told the House of Representatives today that 18 of the 42 are former employees of Petrotrin and 24 are new.

Minister Khan said that the Heritage Petroleum Company Limited has hired 39 senior and middle managers.

Of the 39, 16 are former Petrotrin employees and 23 did not work with Petrotrin before.

OWTU to file contempt case against Petrotrin

The Oil­fields Work­ers’ Trade Union (OW­TU) says it will file con­tempt of court pro­ceed­ings against Petrotrin for its fail­ure to dis­cuss the cri­te­ria be­ing used to staff the Her­itage Pe­tro­le­um Com­pa­ny Ltd and the Paria Fu­el Trad­ing Com­pa­ny.

In a me­dia con­fer­ence at the union’s Para­mount Build­ing in San Fer­nan­do Tues­day, OW­TU pres­i­dent gen­er­al An­cel Ro­get said that the union was plan­ning to get the process start­ed.