Opposition leader: UNC silent on refinery

The Petrotrin refinery. - File photo

OPPOSITION Leader Pennelope Beckles claims the UNC is silent on its campaign promise to restart the former Petrotrin refinery in Pointe-a-Pierre because it has realised it is a promise it cannot keep.

She made the claim during her contribution to the 2025/2026 budget debate in the House of Representatives on October 17.

Beckles observed no mention was made about the refinery during Finance Minister Davendranath Tancoo's budget presentation in the House on October 13.

She recalled when the PNM demitted office after the April 28 general election, there was a firm agreement for the refinery.

Beckles said during the election, the UNC painted a false picture of new jobs and foreign exchange revenues from the refinery's restart.

"Five months later, that promise remains only on a platform stage. Promise made, promise broken."

She said the PNM's efforts to restart the refinery was advanced through a competitive evaluation exercise, after extensive technical and financial assessment."

That process, Beckles continued, resulted in the PNM government selecting a proposal from Nigerian company Oando Trading DMCC to lease and operate the refinery.

"That represented real progress. A private sector operator was identified. Taxpayers would not bear any cost to restarting the loss-making facility."

Beckles said, "A framework existed for moving from mothballing to operation in a structured way. The public perceived a path forward."

She added the UNC scrapped that process but did not build on the groundwork laid by the PNM to restart the refinery.

Beckles recalled a committee was formed to explore the feasibility of restarting the refinery.

She said the committee was given a four-month time period to complete its work and should be reporting soon.

"We wait to see the strategy that this committee was given that time to prepare."

Beckles said, "Even the committee itself admitted to little progress on a restart plan, citing enormous capital costs in refurbishing the refinery and an uncertainty about the financial facts."

She referred to a social media video in which Minister in the Ministry of Ernesto Kesar claimed to have the committee's report and the refinery was ready to restart. Beckles claimed Kesar was "shaking like a leaf" in the video.

Beckles said, "Let me warn this government and point out to the people of this country that given the Procurement and Disposal of Public Property Act, the government cannot simply hand over the refinery to any entity without following a proper procurement process."

She added, "We will be monitoring the evolution of this situation closely." Beckles warned breaches of the Act results in heavy fines and jail terms.

At a post-cabinet news conference at Whitehall on February 27, then energy minister Stuart Young announced Oando as the preferred bidder to lease the refinery

In his 2024/2025 budget statement in Parliament on last September, then finance minister Colm Imbert said cabinet short-listed three companies to acquire the refinery based on the recommendations of the selection committee and Scotia Capital.

These are locally-based CRO Consortium comprising DR Commodities Ltd, Chemie-Tech and Ocala, US-based INCA Energy LLC, and Oando

Young said an evaluation committee, as well as cabinet sub-committee chaired by then housing minister Camille Robinson-Regis, examined the proposals presented by the three companies before reaching its decision.

He added Trinidad Petroleum Holdings Ltd (TPHL), the company formed after the restructuring of Petrotrin in November 2018, would begin talks with Oando regarding the lease of the refinery.