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Petroleum Company of Trinidad and Tobago Limited (trading as Petrotrin) was a state-owned oil company in Trinidad and Tobago. Its principal activities were the exploration, development and production of hydrocarbons in addition to the manufacturing and marketing of petroleum products.
In 1994, the government merged Trintopec and Trintoc into a new company, Petrotrin. Trinmar merged into Petrotrin in 2000. Petrotrin faced conflicting goals. It had to convince foreign multinational oil companies to partner with it in exploration, development, and production activities.
Sep 28, 2017 · Petrotrin paid a total of $6.6 billion dollars in 2014 and $4.1 billion in 2015 respectively in taxes to the government. Additionally, Petrotrin’s Corporate Social Responsibility efforts must also be recognised as the Company invested an estimated $15 million dollars in community projects across Trinidad and Tobago for the period 2014/2015.
Trinidad Petroleum has four subsidiaries – Heritage Petroleum Company Limited; Paria Fuel Trading Company Limited; Guaracara Refinery Limited and Petroleum Company of Trinidad and Tobago (Petrotrin).
May 4, 2024 · Petrotrin still exists as a legal entity, its main business is holding various legacy assets; however, its original operations were restructured. Trinidad Petroleum Holdings Ltd (TPHL) was...
NP also marketed and distributed refined petroleum products manufactured by another state-owned corporation, Petrotrin. Due to extreme mismanagement, Petrotin was shuttered in 2018 and broken into four companies. In 1981, NP launched the National Petroleum brand of lubricants.
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Dec 11, 2023 · Here are a few more facts, comrade. When the Government decided, or, more accurately, was forced to finally shut down Petrotrin’s operations on November 30, 2019, the company’s accumulated debt stood in excess of $12 billion. That’s $12,000 million. Petrotrin had not paid taxes in years, and had been borrowing US dollars heavily on the ...
