Petrotrin's
billion-dollar investments
By Roxanne Stapleton
Trinidad Express
Port
Spain
Petroleumworldtt.com
02 18 07
BETWEEN
1996 and 2006, Petrotrin invested $8.9 billion in
its business, its executive chairman Malcolm Jones
said last week at the Trinidad and Tobago Petroleum
Conference.
Of
this investment, $2 billion went into refining operations
and in 2005 it commenced its Gasolene Optimisation
Project.
In
addition to its capital expenditure, $21.9 billion
went into operating expenditure, with $10.1 billion
representing direct incomes.
"I
leave it to the economists to calculate the multiplier
effect of these income injections," Jones said.
The
remaining $10.8 billion was accounted for as expenditure
on materials - $2.8 billion, contracts - $4.8 billion
and utilities - $3.8 billion.
"Of
particular interest to the shareholder is the collection
of resource rents.
"Over
the same period 1996 to 2006, total Government receipts
from Petrotrin in the form of royalties, supplemental
petroleum tax (SPT) was $14.6 billion of which SPT
alone contributed $6 billion."
Trinidad
Express
Wednesday, February 14th 2007
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©2006 Trinidad Express. All Rights Reserved.
