00:00Brent crude averaged at close to U.S. $108 per barrel and West Texas Intermediate crude averaged around U.S.
00:08$94 per barrel on Thursday as there continues to be an overall surge in global oil prices resulting from the
00:16ongoing war in the Middle East.
00:18In response to a question from TV6 News and the G-Minister Dr. Rudal Munilal said, quote, the refinery, had
00:24it been in operation, would have certainly been beneficial to us during this period of conflict, end quote.
00:31The former PNM-led government was unable to sell or lease the Mothball, the state-owned oil refinery in Pointe
00:37Pair after it was closed in late 2018 as part of that administration's restructuring of the state oil company.
00:44We are actively working to get the refinery back into service in the shortest possible time.
00:52The war has not accelerated the timeline since it was already our priority.
00:59What the war has done is to re-emphasize the importance of the refinery to the economy and the people
01:07of Trinidad and Tobago.
01:08On Wednesday, there were oil and gas industry reports that the mayor announced Technimont, Integrated E&C Solutions Business Unit,
01:17through its subsidiary, Technimont Services, has been awarded a rehabilitation study contract worth U.S. $50 million for the upgrading
01:26of the Garakara Refinery Complex located in Pointe Pair, Trinidad and Tobago.
01:30Opposition MP and former Prime Minister Stuart Young issued a statement about that matter.
01:35Surfacing on what appears to be an international report is that an Italian firm has been awarded a contract for
01:43$50 million U.S., $350 million TT to do an assessment and come up with a plan for the restart
01:52of the refinery at Pointe Pair.
01:53These are the questions.
01:56First, who is it that awarded this contract to this Italian firm?
02:01Who signed that contract?
02:04Secondly, who is paying $50 million U.S. dollars for this assessment and plan to be done?
02:13Is it us, the taxpayers?
02:14Energy Minister Munilal said in a statement to the media on Wednesday that Technimont wishes to state that Technimont has
02:21partnered with Patriotic Energies for a rehabilitation study of the Garakara Refinery in pursuit of Patriotic's proposal to the government
02:29for the restart of the refinery.
02:31Patriotic Energies is a company owned by the oil fields workers' trade union.
02:35The Energy Minister for this said on Wednesday that Technimont is one of the many global oil and gas corporations
02:41and investment entities interested in the refinery and that they are involved with Patriotic Energies in their ongoing interest in
02:49the refinery operations.
02:50The Energy Minister had more to say about the refinery on Thursday.
02:54The United National Congress Administration has always maintained that the closure of the refinery was a disservice to the people
03:03of Toronto and Tobago.
03:05And as such, we campaigned on the promise of restarting the refinery as a matter of high importance.
03:12This refinery had been in operation before and we are certainly eager to return to operations.
03:21June Brown, TV6 News.
03:25June Brown, TV6 News.
03:25June Brown, TV6 News.
03:25June Brown, TV6 News.
03:25June Brown, TV6 News.
03:25June Brown, TV6 News.
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