Americas News
Trinidad and Tobago Suspends Bunker Licence
Trinidad and Tobago Energy Minister Kevin Ramnarine has suspended a multi-million dollar bunkering licence for Bunkers Oil Trinidad and Tobago (Bunkers Oil), a subsidiary of U.S.-based Bunkers International, Trinidad Express Newspapers reports.
Ramnarine said a decision on whether to allow the company to operate in the country will depend on a joint evaluation by the National Energy Council and the state-owned oil company Petroleum Company of Trinidad and Tobago Ltd. (Petrotrin).
"What we are saying is that the consideration of any granting of a licence will take into account the output from the commercial evaluation," Ramnarine told the Trinidad Express.
Ramnarine previously said the nation's Cabinet had agreed to give Bunkers Oil a "marketing licence," but the company had not yet gotten formal authorization to begin operations.
Bunkers International owners John Canal and Al Canal said they had been given a "conditional licence" by the Ministers of Energy, allowing them to move forward.
The Oilfields Workers' Trade Union (OWTU) has shut down Petrotrin operations over the licence issue, arguing that the government was sidelining Petrotrin from the bunkering business.
The shutdown began on Sept. 1, leading to a $135 million-a-day loss for the nation, according to Trinidad Express.
Bunkers International says it has been expanding since 2000, adding operations in Colombia, the UK, Singapore, Turkey, New York, South Africa, and Hong Kong.
