- Petrotrin’s refinery gates won’t be closed immediately on October 1 - there’ll be a phased exit of employees starting with the refinery.
- The jobs of almost 4,800 permanent and temporary/casual employees will all be affected, particularly 1,700 refinery posts. Workers will eventually have to reapply for jobs in a restructured Exploration and Production division which will be Petrotrin’s new focus.
- Notes to Petrotrin’s August 2018 financial statements showed the company recorded a net profit after tax of $83.2 million for last month. Exploration and Production, including Trinmar, recorded a net profit of $20.5 million - but Refining and Marketing recorded a net loss of $7.5 million.
- The board’s memo also stated that details on compensation and benefits are “currently being finalised.”
Source: TT Guardian