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Was the oil industry in T&T

 
Chrissy 2019-08-20 15:10:43 

killed off by the UNC?
Discuss

 
Narper 2019-08-20 15:27:30 

In reply to Chrissy


Naaah...it was the OWTU

 
sgtdjones 2019-08-20 15:27:36 

In reply to Chrissy

The Oil Industry has been on the decline for years since the discovery of large Natural Gas deposits.Petrotrin needs 100,000 barrels per day approx 60,000 ( and Dropping) produced locally, rest bought to keep the Refinery running.

During such years Southern States in America need LNG
and T&T became their number one supplier.

The windfall, some should have been pumped into this area
developing the Oil fields by PetroTrin. Malcolm Jones
spent over 10 Billion T&T dollars of this windfall on a few failed projects, low sulphur plants that didnt work.

UNC charged him, Rowley when elected dropped all charges.

He bought existing systems from some Jewish Brothers in New York that never worked.

The PNM had the better of two Oil Booms during their elected mandate. T&T has a history of Oil for over a hundred years. Eric Williams sold the Oil industry to Americans. Texaco is still partying in White Plains, NY,for the sum that T&T paid for an outdated Oil Refinery at Pointe A Pierre.

How many years did the PNM govern?
How many years did the UNC Govern?

The above should tell you which entity failed T&T

 
camos 2019-08-20 15:34:39 

In reply to sgtdjones

how will the boom in natural gas in the US affect TT?

 
sgtdjones 2019-08-20 15:40:38 

In reply to camos

Its natural gas supply has dropped off , the Plants at Point Lisas are not running at full capacity. Not getting a full supply of Gas. Some plants could be mothballed.

These plants are owned by Canadian and German entities.

Rowley wanted the Dragon Field with Venezuela, that collapsed.

T&T has 4 trains for LNG, owned by foreign entities.
Train One might be mothballed after maintenance.
What ever LNG is sold , it goes to South America and the Far East at below world prices.

Rowley lies so damn much , it's impossible to find out T&T position.

 
problemjay 2019-08-20 16:11:00 

T&T today is a major exporter of Liquified Natural Gas..forget Oil

 
problemjay 2019-08-20 16:12:18 

...and T&T economy today continue to grow! Link Text

 
camos 2019-08-20 20:52:55 

In reply to problemjay.

and T&T economy today continue to grow!



why that article did not say how much the economy grew by for the period? lol

 
problemjay 2019-08-20 21:03:34 

In reply to camos

why that article did not say how much the economy grew by for the period?


look even the IMF will let you know T&T economy continue to grow! Link Text

smile

 
camos 2019-08-20 21:13:22 

In reply to problemjayyou are saying the economy grew in the First Q of 2019 and I am interested in the rate of growth and neither of those articles has provided that figure,

 
Barry 2019-08-20 21:39:10 

UNC charged him, Rowley when elected dropped all charges.

He bought existing systems from some Jewish Brothers in New York that never worked.

The PNM had the better of two Oil Booms during their elected mandate. T&T has a history of Oil for over a hundred years. Eric Williams sold the Oil industry to Americans.


Rowley wanted the Dragon Field with Venezuela, that collapsed.


You all know that Seargeant Jones (socafighter) doesn't know what he is talking about ...
razz

 
Chrissy 2019-08-20 21:42:21 

In reply to problemjay

The same IMF that led to Grenadian Davidson Boodoo's resignation when he refused to lie about the Trinidad Economy

Nuff slaves love their masters. lol lol

 
Barry 2019-08-20 21:44:52 

This is the fairest comment on GTL although still wrong . . .

These latter failures, some say misadventures, made Malcolm’s name mud, especially when the People’s Partnership Government persecuted and prosecuted him. Ask the average Trini about Jones, he is likely to respond: he is ah old t’ief from Petrotrin.

Malcolm knew he would take the fall for the GTL disaster although the critical decisions will not have been his alone. The GTL plant was a good idea that backfired because of a bad choice of partner. Even as the project crumbled, Shell constructed a huge GTL plant in Qatar that is operational and profitable.

Regarding the upgrades at the refinery, not dismissing the cost overruns, had petroleum prices remained buoyant, Petrotrin would have reaped rich rewards and Malcolm would have been a hero.


Link Text

Remember too Trinidadians are lazy and they take years to build everything . . . Imagine fat boy socafighter describes the history of oil and gas without describing Ken Julien ....
razz

 
Barry 2019-08-20 21:47:10 

Tell socafighter to stop reading trash from one side. Trinidadians lie.

Malcolm, a highly qualified and experienced engineer who knew the energy sector inside-out, was among the hands-on pioneers of the downstream industries that today form the Point Lisas Industrial Estate. Professor Ken Julien was the architect of the usage of natural gas for manufacturing fertilisers and methanol, and for powering electricity and other heavy industries. His “officer corps” included Jones, Kerston Coombs and Trevor Bhoopsingh, to name just three of that elite squad that did Trinidad and Tobago proud.

Not everything they touched turned into black or gaseous gold: the billion-dollar steel mill, ISCOTT, was a financial disaster, such that by the early 1990s, it was first leased, then sold for US $70 million, a fraction of its construction cost, to Lakshmi Mittal’s Ispat. It was that plant that propelled Mittal into the global steel magnate he eventually became. To show his ingratitude for what T&T did for him, Mittal put the plant into receivership last year, sending hundreds of employees on the breadline, and forcing the closure of several smaller downstream steel operators.

 
bravos 2019-08-20 22:15:08 

In reply to Chrissy

That's why the gov't keep them at arm's length.

Great stuff there prof!

 
Chrissy 2019-08-20 22:35:47 

In reply to bravos

Naomi Klein included that letter among her resources

here

 
Emir 2019-08-20 22:53:57 

In reply to Barry

You all know that Seargeant Jones (socafighter) doesn't know what he is talking about ...


You mean Crackers big grin

 
Chrissy 2019-08-20 22:55:18 

In reply to bravos

Like problemjay disappear?

 
Emir 2019-08-20 22:57:01 

In reply to Chrissy

In the link you posted, see the PDF on Davidson Boodhoo, the Grenadian brother who was an IMF economist, his article came out when I was still teaching in Brooklyn, I used his article and asked students to critique the IMF structural adjustment policies.

 
Chrissy 2019-08-20 23:03:46 

In reply to Emir

I too used both Naomi's book and Davidson's resignation letter in my lectures and tutorials

 
sgtdjones 2019-08-21 01:29:26 

In reply to Barry

Malcolm knew he would take the fall for the GTL disaster although the critical decisions will not have been his alone. The GTL plant was a good idea that backfired because of a bad choice of partner.


About the World GTL Deal

In 2005, Petrotrin and World GTL en­tered in­to a joint ven­ture to build, fi­nance and op­er­ate a gas-to-liq­uids plant in Trinidad. The $2.7 bil­lion fa­cil­i­ty was sup­posed to con­vert nat­ur­al gas in­to a more ozone-friend­ly liq­ue­fied form of diesel.

Al­though part of the struc­ture of the plant was com­plet­ed, it re­mained non-func­tion­al due to lack of ap­pro­pri­ate tech­nol­o­gy. There were al­so is­sues with con­struc­tion de­lays and ex­ten­sive cost over­runs.

Petrotrin ini­ti­at­ed ar­bi­tra­tion pro­ceed­ings against the plant’s for­mer own­er in the In­ter­na­tion­al Cham­ber of Com­merce and it even­tu­al­ly won. How­ev­er, the ar­bi­tra­tion award is yet to be paid.

World GTL ini­ti­at­ed its own ar­bi­tra­tion pro­ceed­ings at Lon­don Court of In­ter­na­tion­al Ar­bi­tra­tion, which was al­so won by Petrotrin.


Jones chose the Jews Boys from New York, the plant was a used one that didn't work. It was missing loops. So it would never work.

The Shell one was based on different technology.Shell had nothing to do with the one Jones bought.

You know not what you speak off.

 
sgtdjones 2019-08-21 01:36:56 

In reply to Barry

It was that plant that propelled Mittal into the global steel magnate he eventually became.


Again you are posting crap.If it was such as you posted why did he leave it in bankruptcy. He bought a Steel Company in Canada that is larger that the one in T&T.

Founded in 1912, ArcelorMittal Dofasco is Canada's leading steel producer and a hallmark of advanced manufacturing in North America. With approximately 5,000 employees in Hamilton we are the city's largest private sector employer shipping 4.5 million net tons of high quality steel every year.Dofasco has become one of ArcelorMittal's best performing sites, setting benchmarks for other segments of the company.


His father, Mohanlal Mittal, ran a steel business, Nippon Denro Ispat. In 1976, due to the curb of steel production by the Indian government, the 26-year-old Mittal opened his first steel factory PT Ispat Indo in Sidoarjo, East Java, Indonesia. Until the 1990s, the family's main assets in India were a cold-rolling mill for sheet steels in Nagpur and an alloy steels plant near Pune. Today, the family business, including a large integrated steel plant near Mumbai, is run by his younger brothers Pramod Mittal and Vinod Mittal, but Lakshmi has no connection with it.


The Mittals have been in the Steel business for decades.

 
sgtdjones 2019-08-21 01:42:56 

In reply to Barry

Remember too Trinidadians are lazy and they take years to build everything . . . Imagine fat boy socafighter describes the history of oil and gas without describing Ken Julien ....


Like I noted if you only knew something about the Oil and Gas industry you wouldn't post such crap. Everything at Pt Lisas are owned by foreign entities.

Think...T&T received just over 100 billion in Royalty ,(ie 10%) ...what did the shareholders of such foreign entities get...Plus that taxpayers paid for all the plants owned by foreign shareholders.

Same with the LNG trains.Repsol was selling T&T gas destined for Spain at 4 times the price in the Far East,
now where were these experts. How can an Electrical Engineer know anything about Chemical Engineering.

You know little of what you post.

 
sgtdjones 2019-08-21 01:45:46 

In reply to Barry

Rowley wanted the Dragon Field with Venezuela, that collapsed.

How much gas are you getting at the moment ...NONE

You are clueless. A typical braggart Trini all mouth with no substance.


cool

 
sgtdjones 2019-08-21 01:50:51 

Malcolm Jones

He was surrounded by controversy to the very end.

Malcolm Jones, former chairman of Petrotrin, died at the Augustus Long Hospital, Pointe-a-Pierre, on Friday morning, knowing fully well that his name was never cleared in the World Gas-to-Liquid Plant scandal.

Jones was a very close friend of the late Prime Minister Patrick Manning.

He had been ailing for some time.

Jones was appointed Chairman of the Board of Directors and Chief Executive Officer at Petrotrin in 2002.
He tendered his resignation in 2010, following claims of misconduct.

Then Prime Minister Kamla Persad- Bissessar said Cabinet had ordered a forensic audit of the company, as she contended there were grounds for suspicion of misconduct at Petrotrin.

But when Keith Rowley became Prime Minister in September 2015, instead of investigating the allegations, he brought Jones right back to the Standing Committee on Energy. Things got even worse as Jones decided to call it a day and leave.

Last year, Oilfield Workers Trade Union (OWTU) president general Ancel Roget led a march outside Jones’ home at St Joseph Village, San Fernando.

Roget called for Jones’ dismissal as member of the State appointed Energy Steering Committee saying Jones had no right advising the Government on energy matters and should be dismissed. He described Jones as a failure.

Earlier that year, Attorney General Faris Al-Rawi announced that the State would no longer be pursuing a case against Jones, for breach of fiduciary duty, which had been brought under the People’s Partnership Government. He said the State withdrew the US$109 million lawsuit against Jones arising out of the failed billion-dollar World Gas to Liquid Plant (WGTL) project.

The decision to drop the case meant that the State had to pay Jones’ legal costs amounting to $3.1 million dollars.

Three months later, Jones said he had had enough of being condemned and resigned his Cabinet-¬approved position on the Standing Committee on Energy.


As part of the judge­ment, Lord Phillip Sales said that the ev­i­dence in the claim sug­gest­ed that there may have been “some grounds for think­ing” that there was po­lit­i­cal in­ter­fer­ence in drop­ping the case against Jones.

Privy Council: Did politics taint end of lawsuit against Jones?

 
Barry 2019-08-21 02:31:20 

The guardian is your source? lol lol lol

 
sgtdjones 2019-08-21 02:53:02 

In reply to Barry

Why is it making you look doltish.

It can based on your lack of knowledge.

 
Barry 2019-08-21 08:26:15 

In reply to sgtdjones

Lack of knowledge of what, socafighter? big grin
If you had the money to visit Trinidad you would be more aware of the newspapers and their reporters- would you read something from ria taitt or Asha javed? big grin

 
Barry 2019-08-21 08:33:29 

In reply to Chrissy

Problemjay = emir=stdjones .... big grin

 
Barry 2019-08-21 08:37:02 

Brother, see below for Malcolm... I hope you weren’t referring to Ken....

Highlights of his career include: His first job was as a Process Engineer at Texaco Trinidad from 1965 to 1968. From 1971 to 1975 he worked at the then Ministry of Petroleum and Mines where he served as a Chemical Engineer, Development Engineer, Project Process Engineer, and Associate Project Manager.
big grin