Trinidad Petroleum Holdings Limited says statements being circulated on social media that Paria Fuel Trading Company Limited has been sold to Simpson Oil Limited or any other party are untrue.
In a media release on Monday the company said Paria has not been sold.
It noted that the process for inviting, receiving and assessing proposals for TPHL’s refinery assets is currently in train and to date; TPHL has only sought expressions of interest from potentially interested parties.
The release said on March 11, 2019, TPHL issued an overview of the assets and non-disclosure agreements to 58 potentially interested bidders, asking them to indicate their interest.
It explained that the company is currently at the stage of receiving such expressions of interest and entering into confidentiality agreements with those parties that wish to proceed further.
It is clear that the process is at a preliminary stage and still ongoing.