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 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.
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.
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.