THE Oilfields Workers’ Trade Union (OWTU) is expected to file legal action accusing the Keith Rowley Government of an absence of natural justice in the divestment of Petrotrin.
The dramatic turn follows Energy Minister Stuart Young’s allegation in Parliament that an OWTU subsidiary, Patriotic Energies and Technologies Co. Ltd, tendered a fraudulent wire transfer of US $1.5 billion.
OWTU’s top brass has been consulting top attorneys, who have reportedly advised that the Government has undermined the independent tendering process.
The attorneys have counselled the union to take the matter to court accusing the Government of denying Patriotic fair and equal treatment in the public bidding for the Pointe-a-Pierre facility.
OWTU’s leader Ancel Roget has denied that Patriotic submitted a fake US $1.5 billion document as part of its bid.
The union said that Young’s claims were “misleading and mischievous.”
OWTU said that details of Patriotic financing arrangements were submitted to the Government’s Evaluation Committee and Scotiabank USA, which reviewed all applicants.
Opposition Member of Parliament Dr. Roodal Moonilal questioned how Young obtained a bidder’s financial details when an independent committee was examining applications.
Legal action will place a major stumble in the planned divestment, in which a Trinidad and Tobago-based industrial group is one of three favoured bidders.
CRO Consortium, comprising DR Commodities, Chemie-Tech and Ocala, won nods of approval from members of the Government’s Evaluation Committee, according to well-placed sources.
The group’s financial proposals were reportedly well received.
DR Commodities, set up in 2021, is a member of Point Lisas-based D. Rampersad and Co. Ltd., and is involved in oil and gas projects.
The company describes itself as seeking “to create local and regional projects that are high impact and change creators.”
DR said its team includes engineers, financial and investment experts, project managers and energy innovators.
The shortlisting of a local enterprise for the landmark industrial project is a significant development.
In the 1970s, multinational Texaco sold the Pointe-Pierre assets after an aggressive campaign by then-OWTU leader George Weekes that “the commanding heights of the economy” must be owned by locals.
The operations were subsequently State-owned until the shock November 2018 shutdown.
Two foreign companies – Nigerian-based Oando PLC and US-owned Inca Energy – are also in the Government’s list of contenders.
But both bidders are expected to have difficulty in raising capital for the cost-intensive project.
Experts suggest that Oando, which has recently had a financial bad patch, is seeking to improve its branding to boost its stock value.
“Being seen as a primary contender for a refinery in another part of the world is good for Oando’s image,” a knowledgeable source said.
Inca, which was formed in South Africa, has been focusing on wind and solar energy.
The Government is placing a high premium on the potential source of financing.
Finance Minister Colm Imbert has stressed that re-opening is “predicated on the principle that it be at no cost to the taxpayer.”
Restarting the operations would provide high-skilled jobs and invigorate the currently depressed fenceline communities.
The Government’s initial aim was to make a public announcement ahead of the general election, which is due within a year.
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