RE: Sabotage at Petrotrin4 Oct 2018 15:26
Just to confirm, I was actually talking about the IPSC, same mistake I always make.
I understand that we are simply contractors, and that we receive cash for producing on their behalf, hence why I mentioned 'a commission'.
The oil is of course the propety of TT.gov, but there is three options in my opinion...
a) Petrotrin goes bust, in which case, all and any oil from the island is taxed like elsewhere, then shipped (unless another refinery pops up), thus allowing producers to sell and generate higher returns than the IPSC would have allowed. Or,
b) Petrotrin instead chooses to buy oil from producers like CERP, without any side agreements like the IPSC that has contributed to the pain TT.gov has experienced, and is still experiencing as a result of the low oil price days.
Fanciful? .....Petrotrin appears not to have many options available to them, they will need to keep producing oil to appease the people.
Ask yourself this question...How business friendly is an agreement like the IPSC to private producers, when there is more money to make elsewhere where an IPSC does not exist?
As the oil price rises, don't think that LK, or any other contractor will stay in the country, whilst other minnows reap the rewards of more favourable jurisdictions.