Petrotrin: "Totally unacceptable" strike will hurt our operations

Thursday, October 20, 2016 - 10:45

Petrotrin says the strike by its workers will affect the company and is calling it "totally unacceptable" in a time when the company's revenue is already down due to low oil prices.

The company issued a statement today on the strike that began this morning.

"Today (2016 October 20), Petrotrin’s continued efforts to maintain production and meet its financial and operational obligations to its employees and its shareholder are being hindered by the strike action taken by the Oilfields Workers’ Trade Union (OWTU) against Inland Offshore Contractors Limited (IOCL), one of the main contractors providing marine transport to Petrotrin’s Trinmar Operations.

As far as we are aware, this strike action is based on a breakdown of the ongoing negotiations between IOCL and the OWTU including conciliatory sessions at the Ministry of Labour. 

This strike is causing serious disruptions to our operations even beyond our TRINMAR operations and can have major effects on our workers’ ability to access our marine installations in order to meet our production and maintenance objectives.

Reliable and efficient transport is critical to ensuring our effectiveness in servicing our offshore installations. 

At this time of low oil prices, heightened competition and increasing demands to maintain our existing markets, Petrotrin will no doubt be adversely affected by these disruptions.

Unplanned disruptions, whether from employees or service providers, are therefore totally unacceptable. 

Petrotrin advises that it is monitoring the situation closely and while contingency measures will be implemented in an attempt to limit the negative impact of these disruptions, it is absolutely essential that we work together to maintain safe, reliable and sustainable operations at all times.

At this critical juncture, as Petrotrin’s operations are subjected to intense scrutiny from stakeholders including our insurers, bondholders, credit rating agencies and the shareholder among others, any approach other than to maximize operations presents a serious threat to our future as a sustainable entity.

We recognise and thank all employees who have reported for duty this morning and urge the support of all employees in the face of this threat to the stability of our operations."