Energy Minister: More reliable petroleum supplies for TT

Addressing a signing ceremony for those agreements at NPMC’s Sea Lots headquarters, Williams said similar agreements were suspended by the former government in 1998, when it "moved to regain control of the supply chain" and this caused many convulsions within the system. PDA president Rohan Roopnarine agreed with Williams, saying that in hindsight, the corporate battles between the NPMC and PDA from 1996 to 2001 were "unnecessary." Noting that Williams and former works and transport minister Franklin Khan were instrumental in restoring the domestic petroleum industry to economic health, Roopnarine was optimistic that the trend would continue and suggested that Government provide increased margins to petroleum dealers in order to help them improve the industry for the benefit of the population.

Speaking with Newsday after the ceremony, Williams said Government was giving active consideration to the increased margins referred to by Roopnarine and other initiatives to improve the system’s delivery capabilities to the population. Williams said Government was committed to "the development of the entrepreneurial spirit among our population" and the NPMC/PDA agreement (which has a five-year renewal option) is testimony to that fact. He said Government was optimistic that the agreement would facilitate a more regular supply of domestic petroleum products to the public and allow the dealers to improve the existing network of gasoline retail centres throughout TT.

Revealing that Government has subsidised the cost of domestic petroleum products for 2005 at an estimated cost of $1.383 million, Williams disclosed that measures would be placed in the 2005/2006 Budget to ensure that the population remains insulated from effects of rapidly increasing petroleum prices on the international market. The Budget will be presented in Parliament in September and will focus heavily on the family.

Noting that State oil company Petrotrin had embarked on a US$350 million gasoline optimisation programme at its Pointe-a-Pierre refinery (to supply high quality, clean fuels to the local, regional and international markets) Williams recalled that Government had kept its 2003 Budget promise to phase out leaded gasoline in TT. Williams disclosed that Cabinet and its sub-committee on energy (which is chaired by Prime Minister Patrick Manning) has agreed to the award of licences for the bunkering of fuels on wharves and barges. He said the quality of pitch for local road paving will be significantly enhanced through the merger of specific operations currently undertaken at Petrotrin and Lake Asphalt.

NPMC chairman Lawford Dupres said the company’s domestic monopoly was no excuse for inefficient service to the population, and NPMC was committed to making the agreement work for the benefit of all stakeholders.