OWTU says it is closer to re-starting the refinery

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    The OWTU says it is closer to re-starting the refinery in Pointe-a-Pierre.

    On January 15th, Patriotic Energies and Technologies Ltd (which is fully owned by the OWTU) held what it says was a “productive meeting” with the Cabinet-appointed evaluation committee and the Cabinet sub-committee.

    The union says agreement was reached on several vitally important issues:

    • Patriotic will be the exclusive and sole entity working towards the acquisition of Guaracara and Paria, with a view to restarting the refinery in the shortest possible time.
    • Patriotic’s inspection of the refinery will go ahead. No time-frame was established for this inspection, but both Patriotic and the Government agree that this must be executed as soon as possible. This inspection is needed due to verify the value and the current state of the various connected assets and what is needed to restart the refinery.
    • The lack of security around the refinery has been a grave concern to Patriotic.
    • Working teams from both sides will be established to work on the various documents necessary for the finalising the acquisition of the refinery.

    The union says the meeting was an important step toward consummation of its acquisition of the refinery.