The Executive of the Oilfields Workers’ Trade Union is scheduled to meet with Board of state owned energy company today.
A release from the OWTU says President General Ancel Roget, will be addressing Petrotrin workers and the media at Pointe-a-Pierre Roundabout following the meeting at 3 P.M.
At today’s meeting, the board is set to present the Union with its plan for restructuring the company.
The Government has remained tightlipped over what the restructuring plan could entail.
However, a report in today’s Trinidad Express newspaper says the plan involves the shutting down of Petrotrin’s refinery.
It claims that the company will instead be expanding its operations in oil exploration and production.
Quoting a senior Cabinet source, the article explained that Petrotrin’s refinery operations are most responsible for the company’s staggering annual losses.
The source reportedly explained that Petrotrin is producing 40,000 barrels of oil but has to import 100,000 barrels to keep the refinery going.
Therefore, operations in the exploration and production of oil are to be expanded so that Petrotrin can focus on being an oil producer as against operating as a refining company.