This essay examine Petroleum Company of Trinidad and Tobago Limited (Petrotrin). Petroleum Company of Trinidad and Tobago Limited (Petrotrin) is an government- owned corporation in Trinidad and Tobago (T&T) and operates on Trinidad and Tobago’s only petroleum refinery, located at Pointe-a-Pierre. This company is not only the leader of Trinidad and Tobago’s energy sector, but also are the largest Petroleum producers of Trinidad and Tobago, and export their products to different countries all over the world. Petroleum is an important source of energy that, also called crude oil and is used for a wide range of applications.
This essay is divided in three parts which are the introduction, information and conclusion.
Petroleum Company of Trinidad and Tobago Limited (Petrotrin) is owned by the Government of the Republic of Trinidad and Tobago. As a government- owned enterprise, Petrotrin is under control of the Minister of Finance acting as the Corporation Sole. The Ministry of Energy & Energy Affairs is the one that provides specialized technical analyses, statutory approvals for Petrotrin’s operations and makes sure that the company adheres to Government’s policy guidelines. Petrotrin is guided by a Board of Directors which monitors the company’s corporate performance to ensure legal, financial and strategic compliance.
The Directors of Petrotrin are: Beverley John, Zameer Mohammed (Dr.), Lennard Prescod, Roy Lloyd,Linda Rajpaul Randhir Rampersad and Prof Andrew Jupiter (Chairman).
Petrotrin’s also includes a executive leadership team that is responsible for the operations of the company’s business and performance of their strategic plan.
The members of Petrotrin’s Executive Leadership Team are: President Fitzroy Harewood, Vice President Exploration & Production Ag. Stephen Awah, Vice President Refining Jonathan Barden, Chief Financial Officer Ronald Huff,and Vice President Human Resources and Corporate Services Ag. Neil Derrick
Petroleum Company of Trinidad and Tobago Limited (Petrotrin) was incorporated on January 21, 1993 to consolidate the interests of two other government- owned corporations: Trinidad and Tobago Oil Company Limited (Trintoc) and the Trinidad and Tobago Petroleum Company Limited (Trintopec). To consolidate the interest of the aforementioned government- owned companies, Petrotrin was responsible for the operation of petroleum production, refining and marketing assets. Earlier has Petrotrin an long standing sales relationship with international Oil & Gas Companies: Texaco, BP, Shell, Chevron, Exxon,Trinidad leaseholds Limited and others. Now they are the leader and biggest petroleum producers from Trinidad and Tobago that produces 48,047 (7,638.9 m3/d) barrels in one day. And still explore new ways to produce more petroleum and natural gas. The single refinery of Trinidad and Tobago, located at Pointe-a-Pierre, where only Petrotrin operates has a capacity of 168.000 barrels per day, and is the only refinery in the world that operates alongside the wildlife park. Petrotrin sells their petroleum products locally and also do international business to sell their products for customers across the Caribbean, United States of America and Latin America.
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Other services that Petrotrin provides are:
Medical facilities and services for their employees, retirees and dependents at its Augustus Long Hospital located in Pointe-a-Pierre.
High quality laboratory services( Associated, Oilfield Chemical testing etc.) to support the industry and business.
Save and efficient Bunkering services from Pointe-a-Pierre Port.
Functioning clubs at Guaracara, Fyzabad, Palo Seco, Pointe-a-Pierre, Penal/ Barrackpore, Beach Camp and Clifton Hill, Forest Reserve, Trinmar to meet the social and recreational needs of employees and their families and to provide facilities.
As a government-owned corporation, Petrotrin helps with the growth of every citizen of Trinidad and Tobago. In other words, Petrotrin ensure that thousands of families are stable to help build up the country.
Petrotrin is also one of the largest employers of Trinidad and Tobago with a committed staff of more than 5.000 people. As such, the company institute a culture of accountability and excellence and is dedicated to personal accountability, operational excellence and sustainable practices throughout the operations.
The Petrotrin’s employees are committed to meet the highest ethical standards of their business. This commitment is underpinned by Petrotrin’s mission, vision and values.
Petroleum Company of Trinidad and Tobago Limited (Petrotrin) mission and vision are:
Mission: Petrotrin, as the national petroleum company, operates to optimize the return from its resources for the benefit of its shareholders and the citizens of Trinidad and Tobago.
Vision: A high performing energy organisation, that delivers superior results to its shareholders every time, all the time.
We will be a premier fully integrated petroleum-based energy organisation, the
preferred supplier in the Caribbean and Latin America, recognised for our responsiveness to our employees, customers, the State and other stakeholders.
We will make Petrotrin innovative, dynamic, viable and efficient; safe in our operations and sensitive to the ecology; driven by customers, competent and empowered people, creative business ideas and appropriate leading technology.
In conclusion, Petroleum Company of Trinidad and Tobago Limited (Petrotrin) is one of the biggest government-owned corporations from Trinidad and Tobago, with more than 5000 committed employees. This company is the largest Petroleum producer from the country, which means that they are a major contributor to the national economy of Trinidad and Tobago.