Young dismisses UNC claims Government in talks on Pointe-a-Pierre refinery
Energy Minister Stuart Young.
Energy Minister Stuart Young on Monday dismissed Opposition claims that Government was talking to parties other than the Oilfield Workers Trade Union (OWTU) led Patriotic Energies and Technologies Co Ltd, which had previously expressed interest in the former Petrotrin refinery in Pointe-a-Pierre.
Patriotic s bid for the refinery was rejected by Government in February. Previous bids by Patriotic were rejected in January and last October.
Young said Trinidad Petroleum Holdings, the overall owner of the refinery, is submitting a marketing plan for Cabinet s consideration to seek potential bidders on the open market.
Trinidad and Tobago owes the late energy minister, Franklin Khan, a great debt of gratitude.
This, according to Trinidad Petroleum Holdings (TPHL) and its group of companies as it joined the nation in mourning the loss of Khan, who passed away yesterday.
TPHL and its subsidiary companies: Heritage Petroleum Company Limited (Heritage), Paria Fuel Trading Company Limited (Paria), The Guaracara Refining Company Limited (Guaracara) and The Petroleum Company of Trinidad and Tobago (Petrotrin), extended sincere condolences to his family, friends, and colleagues.
TPHL’s Chairman Michael Quamina recalled that Khan was appointed Energy Minister in 2016 and it was under his stewardship that the group of companies was born.
4 Hrs Ago General manager Michael Baiz, from left, NP CEO Bernard Mitchell, Energy Minister Franklin Khan and NP chairman Sahid Hosein at the opening of NP s service station in El Socorro on September 25, 2019. Photo by Tyrell Gittens -
THE Energy Chamber is remembering Energy Minister Franklin Khan as a passionate man who enjoyed developing young talent.
Khan died on Saturday morning and members of the government, opposition and those in the energy industry, among many others, have been sending condolences to his friends and family.
In a release, the chamber said it worked closely with the late senator for decades.
Clarification of reason why the Government could not proceed with the sale of the Refinery to Patriotic
The Minister of Finance, the Hononourable Colm Imbert M.P., has taken note of comments made by spokesmen for Patriotic Energies and Technologies regarding the nature of its proposal to finance the purchase of the Point-a-Pierre Refinery and the Paria Fuel Trading Company.
It appears that there is a complete misunderstanding of the true nature of transferable tax credits as compared to tax concessions or incentives to industry. Patriotic has said that the tax credits are nothing new and are given to multinational companies making foreign direct investment in Trinidad and Tobago.
Imbert: Patriotic confused about tax credits newsday.co.tt - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsday.co.tt Daily Mail and Mail on Sunday newspapers.