Cabinet turns down latest proposal from Patriotic Energies

Finance Minister, Colm Imbert, says following analysis today of the two options which were presented to the Evaluation Team concerning the acquisition of the Petrotrin refinery, the cabinet has agreed not to accept the latest proposal from Patriotic Energies and Technologies Limited (Patriotic).

Speaking at the weekly post cabinet news briefing at the Diplomatic Center’s, St Ann, Minister Imbert said after review of the two proposals it was felt they will take the government right back to where it began and would cause the country to incur payments of between five and six million dollars.