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  • 4 months ago
The new Boards of Directors of subsidiaries of the State-owned Trinidad Petroleum Holdings Ltd have been appointed.

This, as one particular TPHL member received a special mandate from the new Government.

Juhel Browne reports.
Transcript
00:00Brothers and sisters, we have called on Heritage Petroleum and others to do what they have to, to take all steps necessary to increase our oil production.
00:11Energy Minister, Dr. Rodal Munilal, has made a direct reference to one of the subsidiaries of the state-owned Trinidad Petroleum Holdings Limited, or TPHL, as he spoke during the UNC's Monday night report in Separia.
00:23Dr. Munilal spoke at the event after he officially issued letters of appointment to the boards of directors of TPHL subsidiaries, Heritage Petroleum Company Limited, Paria Fuel Trading Limited, and Guaracara Refining Company Limited.
00:38The Ministry of Energy and Energy Industries said the brief ceremony was held at the ministry's head office at the International Waterfront Complex in Port of Spain.
00:48TPHL replaced Petritrin as the state-owned oil company in late 2018, following a decision by the Cabinet of the 2015-2025 PNM-led government, which also decided to close the state-owned oil refinery in point of pair due to what it declared were losses amounting to billions of TT dollars.
01:10The refinery was not leased or sold during the former PNM administration's term in office, despite its attempts to do so.
01:18In response to a question from TV6 News during a post-Cabinet media briefing on May 16th, Prime Minister Kamala Passat-Bercesa made clear the UNC-led government's plans as her party was critical of the refineries' closure when it was in opposition.
01:32We remain committed to trying to get that refinery started, if not in its present form, in some kind of what we need a refinery in Trinidad and Tobago.
01:41It has been the core golden goose for Trinidad and Tobago for over 100 years.
01:46So yes, we are working on it, and I'll let you know as soon as we can.
01:50According to TPHL's website, Guaracara Refining Company Limited oversees the preservation of refinery assets and provides utility services to Paria Fuel Trading Limited.
02:02Guaracara Refining's new chairman is Gauta Maraj.
02:05The Energy Minister told the Parliament last month it has been costing $400,000 every month for the upkeep of the Mothbald refinery.
02:14TPHL's website says Paria Fuel oversees terminaling, fuel trading, product supply and logistics,
02:22while Heritage Petroleum oversees exploration and production with revenue generated through crude oil sales and crude storage.
02:30Paria Fuel's new chairman is Nairi Alfonso, while Heritage Petroleum's new chairman is Kurt Ramlal.
02:37The Energy Ministry said Minister Munilal welcomed and congratulated the newly appointed board members
02:41as he emphasized the critical role these entities play in the national energy landscape.
02:47The Ministry also said Dr. Munilal reminded the members of the mandate issued by Prime Minister Passat-Besessa
02:52for Trinidad and Tobago to, quote, re-emerge as the energy hub of the Caribbean, end quote.
02:58Jewel Brown, TV6 News.
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