War threat not yet affecting Petrotrin

CORPORATE Communications Manager at Petrotrin, Oliver Flax, said yesterday the threat of war in Iraq has not yet had a direct impact on the operations of the company.

He said previous experiences like the Gulf War in the early 1990’s had no real adverse effects on Petrotrin. He said the possible war might be as negative as well as positive for the company. If Iraq is unable to produce oil, the void may eventually lead to rising prices and Petrotrin might be able to capitalise on that development. However, if other Middle Eastern states like Saudi Arabia increase their production, this might fill the void and there might not be a hike in oil prices. Flax said the possibility of shipping lanes being affected, limiting the avenues through which petroleum products are exported, could adversely affect Petrotrin.