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Trinidad: Profit declaration by Petrotrin a sham

The Oilfield Workers Trade Union (OWTU) is calling for an investigation into claims by chairman of State-owned-Petrotrin Wilfred Espinet that the company made an $85.6 million profit for the quarter ended in June 2018.

OWTU’s president general Ancel Roget viewed the declaration with skepticism and said it must be, “Properly interrogated to unearth the misinformation and downright lies.”

He also denied claims that oil workers the OWTU represents were earning a monthly income of $40,000, or that the wage bill was 54 percent of the company’s operating cost.

Addressing his union’s 79th Annual Conference of Delegates on Friday at the Paramount Building, San Fernando, Roget questioned how the company could declare a profit when there were outstanding sums owed to contractors.

“You cannot delay or refuse to pay contractors millions of dollars for work already done, cancel critical contracts to protect human lives and the environment, not supply temporary employment to continue the operations, resulting in the loss of 861,900 barrels on indigenous crude and still declare a profit. What a sham.”

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