Tweet
Petrotrin thinking of selling GTL billion dollar plant as scrap iron
Trinidad and Tobago owned oil company Petrotrin is reportedly considering selling the controversial $2.8 billion World Gas to Liquids (GTL) plant at its Pointe-a-Pierre refinery as scrap iron.
The Trinidad Newsday reports that the company’s chairman Lindsay Gillette made the disclosure during a news conference at Petrotrin’s offices on Thursday April 5.
He is quoted by the Trinidad Newsday as saying “We are actually considering right now whether we should use this plant as scrap iron. That’s a lot of money and that money could have been better spent in looking for crude” .
Gillette reportedly added that if some use cannot be made of the plant, the only other options were to “scrap and sell it out or we just let it rot.”
Saying it was wrong for the company to have given foreign shareholders control of the $2.8 billion spent to build the plant, Gillette said the matter is currently in arbitration and he had no idea whether Petrotrin will recover any money.
Trinidad and Tobago owned oil company Petrotrin is reportedly considering selling the controversial $2.8 billion World Gas to Liquids (GTL) plant at its Pointe-a-Pierre refinery as scrap iron.
The Trinidad Newsday reports that the company’s chairman Lindsay Gillette made the disclosure during a news conference at Petrotrin’s offices on Thursday April 5.
He is quoted by the Trinidad Newsday as saying “We are actually considering right now whether we should use this plant as scrap iron. That’s a lot of money and that money could have been better spent in looking for crude” .
Gillette reportedly added that if some use cannot be made of the plant, the only other options were to “scrap and sell it out or we just let it rot.”
Saying it was wrong for the company to have given foreign shareholders control of the $2.8 billion spent to build the plant, Gillette said the matter is currently in arbitration and he had no idea whether Petrotrin will recover any money.
Comment