TPHL says no evidence of Patriotic wire transfer

Trinidad Petroleum Holdings Limited (TPHL) says it has no information of a $1.5b transfer. It comes after Energy Minister Stuart Young revealed Patriotic Energies used “fake documents” in its bid for the Petrotrin Refinery during his budget debate presentation in parliament last Friday.

Three days ago, Patriotic rebutted, saying, “The solely selected financier would have been submitted to the (Cabinet-appointed) evaluation committee and Scotiabank International which both accepted as our preferred financier.”

However, in a statement on Tuesday morning which was released in tandem with the Oilfields Workers’ Trade Union’s press conference, TPHL says it is in receipt of a document submitted by Patriotic Energy Services Company Limited in furtherance of its non-binding offer for the Guaracara Refinery, which document was specifically identified as evidence of a wire transfer of 1.5 Billion United States Dollars into a local bank, with Patriotic Energies and Technology Company Limited as the beneficiary.

The statement went further in saying, “Information to hand suggests that there was no such transfer. Accordingly, the said document has been referred to the Company’s legal advisors and the relevant authorities for advice, including whether any offence has been committed, and thereafter, to take whatever further action may be warranted.”

This is a breaking story. More to follow…

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