PETROTRIN


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AcronymDefinition
PETROTRINPetroleum Company of Trinidad and Tobago Limited
References in periodicals archive ?
The refinery was shut down last November and last month the Ministry of Energy and Energy Industries said statements made by the President General of the Oilfields Workers Trade Union (OWTU), Ancel Roget, regarding a preferred bidder to operate the refinery that was shut down as part of the exercise to restructure the loss-making PETROTRIN, were inaccurate and intended to create an issue where none exists.
"The downgrade of Petrotrin's ratings to Ba3 from Ba1 and the lowering of its baseline credit assessment to b3 from b1 reflect the company's weak liquidity and high refinancing risk, triggered by persistent negative operating performance in the last couple of years, and our expectation that this trend will continue given current market conditions," said Nymia Almeida, a VP-Senior Credit Officer at Moody's.
2 September 2010 - S&P on Wednesday maintained its BBB rating with a "stable" outlook of Petrotrin, the state-owned oil company of Trinidad and Tobago.
"Feed stocks for the refinery would be heavy fuel oils produced by the Petrotrin refinery as well as foreign crudes."
Aventura has a 65% stake in and operates the Central Block gas field off Trinidad, the national company Petrotrin controlling the remaining 35%.
There have been negotiations with El Paso on its Aruba refinery (as noted in OMT), and Trinidad's Petrotrin for a 100,000 b/d refinery at Pointe-a-Pierre.
"During the last trade mission we made our own appointments with the big players such as BP, BG and Petrotrin, and took part in group visits to BP and Petrotrin.
Several pipelines for crude oil transmission will be installed by Petrotrin in the West Indies including a 10-inch 12,500-foot pipeline from Goudron to Cumuto; an eight- and six-inch pipeline from Los Bajos to Forest Reserve; an eight-inch pipeline from Point Fortin to Forest Reserve; a three-inch pipeline from Trinity to Edward Trace; a 10-inch line beginning in Guapo; and a three-inch pipeline in Barrackpore.
Trinidad state oil company Petrotrin provided technical assistance during the drilling and is expected to buy as much as a 50% stake in the block.
Talks continue with Coastal on its Aruba refinery, Trinidad's Petrotrin for a 100,000 b/d refinery at Pointe-a-Pierre, and the 65,000 b/d Cienfuegos refinery in Cuba proposed to be upgraded as a JV with PDVSA.
Oil companies such as the giant Amoco and the local Petrotrin, automobile manufacturer Neal and Massy, the West Indies Tobacco Company, and local soft drink manufacturer Solo, among others, began to purchase instruments for the bands and underwrite their overseas tours.
'In 2019, despite the effect of the oil refinery closure of the state-owned company PETROTRIN in November 2018, growth is projected to be 1.6 per cent, supported by a new natural gas project and an increased implementation of public sector investment programmes.'