Petrotrin and OWTU settle

[pardners]

Strike action called off...parties settle at 9% increase.

Petrotrin and OWTU Sign Terms of Settlement.

PETROTRIN and the Oilfields Workers' Trade Union signed Terms of Settlement on behalf of the Five Bargaining Units represented by the Union.       

Under the Terms of Settlement, workers have gained a 9% General Salary Increase over three years following the consolidation of Cost of Living Allowance (COLA).

The increases have been allocated as follows:
1.   A one percent (1%) First Year General Increase after the consolidation of COLA to Basic Salary
2.   A two percent (2%) Second Year General Increase to Basic Salary
3.   A six percent (6%) Third Year General Increase.                                             
Most allowances have also increased by 10 percent (10%).                                       

PETROTRIN places on record our thanks to the Minister of Labour who facilitated the conciliation talks that enabled these agreements. We also wish to thank the OWTU for their constructive participation in the process.       

Corporate Communications Department February17                                                                                 

[zuluwarrior]

Duke now is your turn ,what yuh sayining ? i can remember you said nobody getting more than 5% and   all other unions will  have to accept it sooner or later .   

[Deeks]

Workers in the oil industry will get more money because petroleum brings in the most revenue to the country. There was no way they would have gotten 75%.

[truetrini]

Deeks, yuh real behind the times.  Oil is far behind natural gas. 

Petrotrin does not even run at full capacity and is thus not very profitable.

Additionally it is far overstaffed.  labor is at 50% of operating expenses, compared to 30-35 % in other refineries around the world.

at 5500 employees for such a small refinery we should have a staff of around 2200.

[rotatopoti3]

at 5500 employees for such a small refinery we should have a staff of around 2200.

TT....all i care about is that d money going back to we own.....so as far as I concerned, once dem foreigners aint getting it...i happy

[truetrini]

at 5500 employees for such a small refinery we should have a staff of around 2200.

TT....all i care about is that d money going back to we own.....so as far as I concerned, once dem foreigners aint getting it...i happy

Why yuh wake up on a Saturday morning to talk such shit?

[rotatopoti3]

Why yuh wake up on a Saturday morning to talk such shit?

young fella like you...why u ent go look for ah lil wuk too ..i sure dey go give yuh ah lil fortnight tuh start with....

at 9% yuh happy like pappy....

[Deeks]

Deeks, yuh real behind the times.  Oil is far behind natural gas. 

Petrotrin does not even run at full capacity and is thus not very profitable.

Additionally it is far overstaffed.  labor is at 50% of operating expenses, compared to 30-35 % in other refineries around the world.

at 5500 employees for such a small refinery we should have a staff of around 2200.

You are quite right. But oil and gas kinder goes hand in hand as far as Trini is concern. I would not argue with the overstaffing. But just like sugar workers of the past, the oil and the more abundant gas are subsidizing everybody. If they privatize or sell to foreign, I feel it go have real thunder back home. And the 9% is to ensure they get the oil workers vote in the future. I don't think they fear the PSA as much as the OWTU.

[Brownsugar]

I don't think they fear the PSA as much as the OWTU.

Especially since the PSA is headed by an absolute dunce.....

[pardners]

Petrotrin was expected to operate in a negative cash flow situation for the past two years due to the large capital investments in the GOP and GTL plants, along with refinery upgrades.  Due to high oil prices Petrotrin still managed to turn a significant profit.
With a workforce of approximately 5500, there will always be some losses, but Petrotrin is viewed as a safety net for the public in terms of doing its corporate duty by providing jobs...permanent and temporary along with OJT, Post-grad and journey-men programs.  In other countries...for the level of production and size of the refinery...a workforce of appr. 500 workers would have been adequate to run the company efficiently.  Doh tell the union that though. 

[g]

Petrotrin was expected to operate in a negative cash flow situation for the past two years due to the large capital investments in the GOP and GTL plants, along with refinery upgrades.  Due to high oil prices Petrotrin still managed to turn a significant profit.
With a workforce of approximately 5500, there will always be some losses, but Petrotrin is viewed as a safety net for the public in terms of doing its corporate duty by providing jobs...permanent and temporary along with OJT, Post-grad and journey-men programs.  In other countries...for the level of production and size of the refinery...a workforce of appr. 500 workers would have been adequate to run the company efficiently.  Doh tell the union that though. 

I struggle with this at times, patronage versus progress. My personal opinion is that a country's patronage should not achieved by operating a failing entity just for the purpose of employing people. Well i guess the argument is whether Petrotrin is a failing entity.

[Deeks]

Lay off 5000 thousand and see what go happen, nah!!!!

[pardners]

I think Petrotrin is far from a failing entity.  Yes it is rampant with lots of inefficiencies, arguably poor management...and human resources as well, but that just reflective of most state-owned entities.  But we can't argue that Petrotrin is the backbone of this economy.  I believe past and present governments used Petrotrin as the vehicle to ease the strain that comes with a lack of innovation and fortitude to do anything else in the form of diversification.

When you consider that Petrotrin is a major sponsor of most cultural and sporting endeavours...yuh really cant say it is a failing entity.  Petrotrin sponsored 3 steelbands in this years panorama (two winners and a second place) and assisted 13 others...13 eh...hmmm   

[Daft Trini]

Even though it's obvious that PETROTRIN is poorly ran at times, it has provided a lot of opportunity for individuals in TnT, kinda bitter sweet!

[Bourbon]

Imagine what it could do if efficiently run...and de bobol doh happen.


Dey looking to let the lease on Trinmar expire.....for some private oil company from China...... and Trinmar one of the few things that keeping Petrotrin afloat.


De amount of nonsense and bobol dat does happen ridiculous.

[pardners]

Imagine what it could do if efficiently run...and de bobol doh happen.


Dey looking to let the lease on Trinmar expire.....for some private oil company from China...... and Trinmar one of the few things the only thing that keeping Petrotrin afloat.


De amount of nonsense and bobol dat does happen ridiculous.

Ah fix it 

[Bourbon]

Imagine what it could do if efficiently run...and de bobol doh happen.


Dey looking to let the lease on Trinmar expire.....for some private oil company from China...... and Trinmar one of the few things the only thing that keeping Petrotrin afloat.


De amount of nonsense and bobol dat does happen ridiculous.

Ah fix it 

Yeah yuh right. I wondering if dese people mad. Give up TRINMAR? 

[weary1969]

Imagine what it could do if efficiently run...and de bobol doh happen.


Dey looking to let the lease on Trinmar expire.....for some private oil company from China...... and Trinmar one of the few things the only thing that keeping Petrotrin afloat.


De amount of nonsense and bobol dat does happen ridiculous.

Ah fix it 

Yeah yuh right. I wondering if dese people mad. Give up TRINMAR? 

U still wonderin?