CREDITSThe PetroConnect is published monthly for employees, retirees and other stakeholders.

We would like to print your views, Department highlights, personal stories etc.Send your comments to:PetroConnect,Corporate Communications Department, Casuarina Avenue, Pointe-a-Pierre, Republic of Trinidad and Tobago.Fax: (868) 658-1825 / Phone: 658-4200 Ext. 2811 / 2823For more info visit www.petrotrin.com

Editor: Gillian Friday Editorial Team: George Comissiong, Walford Coker, Elmo Griffith, Afiya Butler-Ray, Meagan MonseguePhotography: Elmo Griffith, Kerri-Ann Joseph, Lisa Williams-Lewis Layout+Design: Kishore Raghoobar

Sports Corner

Corporate News at a glance No. 117 - July / August 2011

Petrotrin“On the Ball”Cricket Clinics

Petrotrin“On the Ball”Cricket Clinics

Corporate Social Responsibility in ActionCorporate Social Responsibility in Action

Sports CornerSports Corner

Petrotrin On the Ball Cricket

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in this issue

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Petrotrin and Estate Police AssociationBegin New Round of Negotiations

the Executive Leadership Team who were on hand to lend support to the Company’s negotiations team led by Mr. Neil Derrick, Corporate Manager HR Ag. In his remarks, Mr. Munroe reiter-ated the desire of his association to work constructively with Petrotrin’s negotiations team in order to reach a win-win solution that would satisfy the

The operations of Petroleum Company of Trinidad and Tobago Limited, Petrotrin, are spread across the southern half of Trinidad with offshore operations at Galeota in the southeast and through Production Operations (Trinmar) in the Gulf of Paria. Like its predecessor companies, Petrotrin continues to foster and maintain close relations with the communities adjacent to its operations and, mindful of its role as a major state enterprise, extends its corporate philanthropy to the wider national community. Its Corporate Social Responsibility Programme (CSR) establishes Petrotrin as a preferred neighbour. It seeks to empower the community by providing assistance for diverse social activities that encourage self-reliance and promote the self-help philosophy. It places particular emphasis on those initiatives that focus on youth devel-opment particularly through education, training and sport and which enhance knowledge, skill and expertise. Petrotrin is a partner with the Government in various initiatives to provide industrial training and experience to the youth of the nation. In this issue of PetroConnect several youth initiatives are featured which exem-plify this fact. Petrotrin is a major benefac-tor to all schools in its areas of operation, to the Ministry of Education and to institu-tions of tertiary learning, including the Technical Institutes and the University of the West Indies (UWI) and the University of Trinidad and Tobago (UTT). The Company also sponsors the Young Achievers programme, which honours students for their outstanding achievements in the Primary and Second-ary Schools Final Examinations. The Company maintains several sporting facilities that are primarily intended to promote the wellness of its employees and dependents. Access to these facilities is provided to individuals and community organizations. Employees are also encouraged to provide coaching and administrative expertise both at the community and national level. Petrotrin is engaged in the sponsorship of athletics, football, lawn tennis and basketball in various communi-ties throughout Trinidad and Tobago.

•News 2/3•Editorial 3•Exploration and Production Initiatives 4/5•Health, Safety and the Environment 6•Petrotrin Goes Green 7•Finance Page 8•NPSA Begin Negotiations 9•Photo Essay: Refining Projects and People 10/11•Computer Security 12•Enterprise Risk Management 13•Corporate Social Responsibility 14/15•Emancipation 16•Focus on People 17•Wellness Page 18•Sport Corner 19/20

Recently Petrotrin and the Estate Police Association (EPA) launched negotiations for a new Collective Agreement for the period 2008 to 2011. This launch took place at the Petrotrin Learning Centre, Pointe-a-Pierre. The EPA Executive was led by its President, Mr. Eddison Munroe. Petro-trin was represented by President Kenneth Allum and other members of

NEWS NEWSNEWSNEWSNEWS

interests of both parties. He quipped that since no one in the room was wearing a cap, that there would be no ‘cap’ on the percentage increase that the Association could aspire to. He also reminded the gathering that there was never the need previously to refer to a third party in order to reach agree-ment and that he expected that this would obtain on this occasion as well. In his remarks, Mr Allum sought to set the tone for the Company’s approach to the negotiations.He said: “I expect that at all of your meetings there would be healthy dialogue and mutual respect. I hope that there would be a collaborative approach and a genuine desire on both sides to bring closure to the negotiations in a way that would advance their interest. I also hope that the discussion will focus construc-tively on finding positive solutions for present challenges and on forging new paths for the future. I expect that the concept of pay for productivity will guide the directions of your delibera-tions. I emphasize: we must move beyond the traditional approach in which issues such as a fair wage, additional allowances, working condi-tions and an equal distribution of wage increases, dominate all of the discus-sions. In these negotiations, we must discuss efficiency, improving produc-tivity, and the elimination of waste. We must also discuss professionalism, continuous improvement, the ongoing training and development of officers as well as the institutionalizing of best practices. These issues must be given greater importance around the nego-tiation table.” He appealed to both sides to conclude the negotiations in a timely manner, so that all employees could be fully focused on the Company’s strategic imperatives.

Petrotrin inthe Community

Editorial

President Kenneth Allum chats with EPA President Eddison Munroe,at right at the launch of negotiations.

Members of the Ghanaian delegation pay close attention to proceedings.

Ghanaian Trade MissionVisits Petrotrin

On an ongoing basis, Petrotrin receives official visits from trade delegations, dignitaries and diplomatic personnel as the Company encourages the outside world to view our operations and to do business with us. In this regard, a Ghanaian Trade Mission recently visited Petrotrin as part of an initiative facilitated by the Ports and Harbours Authority of the Republic of Ghana, with the aim of further developing trading ties with Trinidad and Tobago. Petrotrin’s Vice President Refining and Marketing (Ag.) Mr. Mado Bachan gave the visitors a comprehensive overview of Petrotrin’s business. He pointed out that Petrotrin is a fully state owned company that is commercially operated under a stable political and economic environment. Following the great tradition of predecessor companies which have been doing business in Trinidad and Tobago for over 100 years, Petrotrin continues to supply the nation with a reliable source of fuel for its transport and other industrial needs. But more importantly, it earns a significant percentage of the nation’s foreign exchange by marketing a variety of petroleum products to CARICOM and the eastern seaboard of the United States of America. He updated the audience on Petrotrin’s major projects pointing out that upstream the emphasis is on 3D seismic acquisition, development drilling, infrastructure upgrades and HSE compliance projects. At the refinery, the Clean Fuels Projects involv-ing the Gasoline Optimization Project (GOP) and the Ultra Low Sulfur Diesel Project (ULSD) are the top priority projects. He said that the GOP should be completed by the end of 2011 while the ULSD should achieve mechanical completion by the end of 2012. The delegation was also given a brief tour of the Pointe-a-Pierre Refinery.

Vice President Refining and Marketing (Ag.)Mado Bachan in discussion with Head of the

Ghanaian delegation Al Haji Abu Bakr Sumaniat right.

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Exploration and Production InitiativesExploration and Production InitiativesTrinmar Lookstowards the Future

Oil Production TrendsDrilling commenced at Trinmar in March 2011 after a long hiatus. It is planned to drill eight wells during the fiscal year and efforts are continu-ing to get the required infrastructure in place to allow for the drilling of better prospects and for new wells to be brought on production as early as possible. The other main proposed activities will be workovers including the following:

• Expense Type Workovers (ETWs)• New Reserve Type (NRT) Workovers• Conversion of wells to progressive cavity pumping (PCP)• Reactivation of wells in the Southwest Soldado field

Exploration work will continue with seismic reprocessing of existing data to identify future exploration and exploitation prospects in Trinmar. In order to ensure the integrity of the marine infrastructure, signifi-cant investments are continuing to be made in upgrading the surface and subsea infrastructure, including installation pipelines, repairs to existing pipelines and risers; and the upgrade and strengthening of platforms and wells. Improving compressor performance will also be a major area of focus. Addressing HSE issues will be a priority; and wells which pose an environmental threat will be abandoned. Trinmar will also continue to institutionalize Process Safety Management (PSM) processes into the way work is performed. This will include a thorough risk assessment before the execution of any activity as well as compliance with all regulatory standards.

A news round-up of plans, programs and activities in the E&P Division

TRINMAR CRUDE OIL PRODUCTION

Total E&P Oil (incl farmouts) 47,046 51,377 (4,332) 46,243 50,105 (3,862) 47,016 29

LNE 23,757 26,459 (2,702) 23,682 26,520 (2,838) 23,853 (96)

Land 14,020 15,564 (1,544) 13,827 15,375 (1,547) 14,246 (226)

Equity JV’s (incl Galeota, TSP & Trintomar) 3,199 4,138 (939) 3,597 4,200 (603) 3,131 68

Lease Operatorships 4,830 4,731 99 4,594 4,862 (268) 4,797 33

IPSC 452 540 (88) 293 483 (190) 297 155

Farmouts (incl. B/ton Marine) 1,256 1,486 (230) 1,370 1,600 (230) 1,381 (125)

Trinmar 23,289 24,919 (1,630) 22,561 23,585 (1,024) 23,164 125

Total Petrotrin Equity oil 45,790 49,891 (4,101) 44,872 48,504 (3,632) 45,635 155

Current Mth- Previous Previous Month Jun 2011, BOPD YTD Jun 2011, BOPD Mth MthOil Production (bopd) Actual Budget Variance Actual Budget Variance Actual Actual

Trintomar/EOGR) increased by 68 bopd from the previous month and was below budget by 939 bopd. Increases were recorded in TSP (+104 bopd) due to closed in wells on Poui being returned to production and in Galeota (+15 bopd). However these were offset by decreases in Central Block (-30 bopd) due to a reduced gas rate (resulting in reduced condensate) on ALNG Train 4 due to compressor maintenance activities and relative high ambient conditions and in SECC (-21 bopd) due to reduced gas rate (and hence reduced condensate) due to decreased demand from NGC.

Petrotrin’s total oil production from its Exploration and Production operations, including Farmouts was 47,046 barrels of oil per day (bopd) for the month, an increase of 29 bopd from the previous month. Total equity oil production exclud-ing Farmouts was 45,790 bopd, which was 155 bopd higher than the previous month and 4,101 bopd lower than the corresponding month’s budget. Compared to the approved Rolling 3-Month Action Plan, total Land and Trinmar oil production for June was higher than the target of 37,090 bopd by 219 bopd. Land production exceeded the target of 13,990 bopd by 30 bopd while Trinmar’s production exceeded the target of 23,100 bopd by 189 bopd. Land production however decreased by 226 bopd from the previous month, and was 1,544 bopd lower than the month’s budget. The reduction from the previous month was due mainly to decrease in production from recently drilled wells as expected (-50 bopd), increase in losses due to wells remaining off (27% reduction in workovers re public holidays, inspection of rigs to initiate new contracts and Well Control training – planned activities) (-59 bopd), oil held in stock in Guayaguayare due to high water content (-65 bopd) and stock buildup in Balata East (-52 bopd). Trinmar’s production was 23,289 bopd for the month, an increase of 125 bopd from the previous month and was below budget by 1,630 bopd. The increased production was mainly due to well optimisations, reduction in downtime in running equipment and workover activity. The Lease Operatorships recorded an increase of 33 bopd from the previous month, and was above budget by 99 bopd. This increase was due mainly to production from new wells in WD-4 (+149 bopd) which was offset by losses mainly in WD-9 (-109 bopd) due to low / off wells, WD-3 (-74 bopd) due to off specification crude and WD-10 (-59 bopd) due to sand-ing up of new wells. The Incremental Production Sharing Contracts (IPSCs) increased by 155 bopd from the previous month and was 88 bopd below budget. The increase over the previous month was mainly due to increases in Trinity/Inniss (+122 bopd) due to stocks from May 2011 being shipped and Catshill (+79 bopd) from an

NRT well that was put on production in late May 2011. The Farmouts including Brighton Marine recorded a decrease of 125 bopd from the previous month and was lower than budget by 230 bopd. The decrease from the previous month was due to a decrease in production in the Brighton Marine Area B as well AS 129 which quit flowing and which had to be put to pump and decreases in Morne Diablo (-65 bopd) and South Quarry (-28 bopd) blocks due to electrical supply disrup-tions. Equity JV oil/condensate (incl.

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Petroleum Company of Trinidad and Tobago Limited recently launched a company-wide recycling project at a one-day exhibi-tion held at the Petrotrin Learning Centre Pointe -a-Pierre. Several companies took part in the day’s activities which featured booths displaying a wide variety of environmental goods and services. Petrotrin’s President Kenneth Allum explained that the program was all about positive behaviour change in preserving the environment for future generations. He said: “Throughout the industrialized world, there is a growing realization that natural resources are finite and that there is an urgent need to better manage the waste products generated by industry and commer-cial activity as a whole. We at Petrotrin have embarked on a recycling project which will focus on the effective management of all recyclable waste generated throughout the Company’s operations. It will also include an education initiative in schools in our fence-line commu-nities. Whereas this is an HSE initiative, it is also a tangible demonstration of the Company’s Corporate Social Responsibility Programme at work. It can never be emphasized enough, the importance of teaching and demonstrating the right habits, espe-cially as an example to our younger generation who, will be the decision makers of tomorrow.” Manager HSE Valerie Quan Vie commented on the success of the day’s proceedings. She said: “Thanks to all those who participated in the first Green Day Launch of Petrotrin’s Recycling Program. This highly successful event accumulated over 2.5 tonnes of solid waste from employees. Petrotrin has developed a comprehensive recycling initiative that will impact all of its fields and neighbouring communities in the coming months. A key feature of this will be an environmental education outreach program to many schools in South Trinidad.

The Petrotrin Recycling Program

Health Safety and Environment Petrotrin Goes Green

98

Those who have been keeping abreast of world news over the past month would have noticed two very significant and negative developments which are sending shockwaves throughout the world economy. The first significant event is the recent downgrade of the United States of America’s credit rating by Standard and Poor's, one of the world's top three credit rating agencies, as it has become increas-ingly skeptical about the US government's ability to repay it creditors. It has therefore downgraded the US's long-term rating from AAA, its best, to AA+, its second highest. That is a big embarrassment for the world's biggest economy. In fact some have even expressed the opinion that this downgrade is a powerful symbol of the USA faltering power as the world's leading economy. This could deliver a crushing political blow to President Barack Obama, because it happened under his watch. The second development, which is causing a global panic in financial circles, is the continuing economic crisis in Europe. Investors around the world are worried that some of the countries which share the euro cannot keep up with their debts. That is what drove Greece, Ireland and Portugal into international bailouts, as the governments found themselves unable to afford to borrow and so stay afloat. The problem is that the 17 different countries in the Eurozone as well as the region's institutions are pulling in different directions. Markets think that politicians and officials do not have the situation under control. Add to that worries that the global economy is in slowdown – making it even harder for countries to pay off their debts – and you have a major panic. Last week saw a phenomenal £148.5bn wiped of the FTSE 100, the UK's benchmark share index. Business is all about confidence; and this was powerfully demonstrated in the last crisis of 2008. Similarly, the above-mentioned developments have shaken that confidence to the core. Some financial analysts claim that the global economy is already in recession, as evidenced by weakening demand for most commodities. China is in over production mode and depends on a strong Europe and America to sell its goods and services. If these economies are weak not only would Chinese exports suffer drastically but America especially, would not be able to repay the billions-perhaps- trillions it owes the Chinese. If the European situation causes markets to become jittery, they could force borrowing costs for Italy and Spain

Petrotrin is currently engaged in the collective bargaining process with some of the unions and associations that represent its very diverse workforce. Coming soon after the launch of nego-tiations for a new collective agreement with the Estate Police Association for the period 2008 to 2011, the Company signalled the beginning of another round of negotiations with the National Staff Petroleum Association, (NPSA) for 2009 to 2012. Corporate Manager HR Ag., Neil Derrick explained: “We are just signing the full agreement for the term 2006 Jan 15 to 2009 Jan 14. A Terms of Settle-ment, with the exception of two terms, was signed in 2006 and all the terms were implemented. We are also launch-ing negotiations for 2009 Jan 15 to 2012 Jan 14” This launch also took place at the Petrotrin Learning Centre, Pointe-a-Pierre. The NPSA Executive was led by its President Mr. Raphael Anthony while Petrotrin was represented by President Kenneth Allum and other members of

the Executive Leadership Team who were on hand to lend support to the Company’s negotiations team led by Mr. Neil Derrick, Corporate Manager HR Ag. Vice President Planning and Tech-nology, Khalid Hassanali remarked that he was also an NPSA member and that the association must be commended for its approach which emphasized harmony with the Company in all past negotiations. He recalled that there was never need for third party intervention in order to reach a settlement with the Company and hoped that this tradition would be maintained during the current round of negotiations. He quipped: “Today we are signing a Memorandum that includes three groups of 5%.” In his remarks, NPSA President Raphael Anthony said that the NPSA is fully committed to helping the Explora-tion and Production Division achieve a meaningful production increase. He remarked: “As we say in E&P Division, ‘Oil in the tank is money in the bank.’ He said, however, that the associa-tion was hoping to dialogue around the

issues of a greatly enhanced pension provision and increased medical benefits for members of the NPSA. President Kenneth Allum reminded the audience about the global financial challenges which have major implica-tions for Petrotrin and which must be taken into account during negotiations. He therefore called for a mature and reasoned approach in the current negotiations. At the same time, he commended the NPSA for their coop-eration in the past. He said: “The stable relationship between National Petroleum Staff Asso-ciation and Petrotrin’s Management in the interest of industrial peace, is an important pillar which has supported this Company and its predecessors for many years. We deeply appreciate your maturity, in your approach to Petrotrin’s viability. It is thus necessary for us to continue to work to further develop mutual trust and to build an even closer relationship based on a thorough discussion of a wide range of issues.”

(currently the focus of the Eurozone's debt crisis) still higher. That would increase the risk of the turmoil rolling out of control into another full-blown crisis. When one adds to this the poor performance of the US economy, investors worry that the down-grade could drag the American economy into recession, and that the worst-case scenario is that this could end up being the trigger for global financial Armageddon. What are the Implications for Trinidad and Tobago “When America coughs, Trinidad and Tobago sneezes”- or is it the other way around? The point of this aphorism is that our economic fortunes are intimately tied up with America; and Europe-to a slightly

lesser extent. In the first instance, if Europe is in financial trouble and the great America is downgraded, what about minnows like T&T? The downgrade could make investors even more nervous about the chances of other coun-tries failing to keep up with their debts. The knock-on effects will be felt in the Trinidad and Tobago as borrowing costs for countries, banks, you name it, rise everywhere. Already international credit for large industrial projects has become more difficult, as Governments in the developing countries are currently finding out. Whatever credit is eventually given to governments may come at significantly higher interest rates and onerous conditionalities. Our Company, Petrotrin, may well find that it increasingly expensive and difficult to access funds on the international markets to finance some key projects. Added to this, one would have noticed that the price of crude oil has been steadily trend-ing downwards over the last few weeks. This certainly cannot help our current constrained cash flow position. On a more personal level, as the world finances become more uncertain the cost of borrowing will go up. Inevitably these costs will ultimately be passed on to consumers, with the prices of mortgages, loans and credit cards going up. When one also considers that a significant portion of this country’s savings, reinsurance arrangements, debts and pension funds, investments is held in US currency with US financial institu-tions, the risks of negative fallout to T&T are enormous. In summary, these days call for watchfulness, financial prudence, wise decision making and the trimming of unreason-able expectations. This equally applies to us as individuals, as Petrotrin and as Trinidad and Tobago. It cannot be business as usual. The world is in the midst of a financial mega-change and we cannot be caught flatfooted.

NPSA Negotiations BeginFinance PageGlobal Economic UncertaintyWhat Does the S&P Downgrade of the USA Credit Rating

and the Eurozone Financial Crisis Mean to Us in T&T?

Petrotrin NPSA Begin New NegotiationsVP Finance, Sheriba Ali-Rajack President Kenneth Allum chats with NPSA President Raphael Anthony, at right at the launch of negotiations.

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Refinery ProjectsThe Refining Division’s main objectives continue to be driven by:

• Improving HSE performance• Successful commissioning of GOP units• Improving plant reliability• Improving energy efficiency• Optimizing costs• Improving operational efficiencies

The 2010-2014 Strategic Plan is now into its project development and implementation phase, with the expectation of improved revenues from this plan. The Gasoline Optimization Programme (GOP) will

be completed within this fiscal year with the commis-sioning of the Acid/Alkylation Units and the upgraded FCCU. As such, all efforts will be dedicated towards the swift integration of these units into the refinery configu-ration, so that we can realize the expected benefits of this major capital expenditure in the shortest possible time. The successful completion of these vital projects will enable the Company to bring cleaner and more environmentally friendly gasoline and diesel to the regional and international markets. This will impact positively on our profitability and viability well into the future. It will also enable us to honour all of our contrac-tual commitments

Construction work at the Cat Cracker The Gas Concentration (GasCon) Unit Process Engineers reviewing operations data.

GasConAlky/Acid plant

GasCon Alky/Acid plantTwo technicians at electrical Part of the Cat Cracker extension

An operator at Site Five Control Room monitors plant operations.

Cat Cracker extention

Photo Essay Featuring Refinery Projects and People

Operators at Site Five Contreo Room.

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Enterprise Risk Management

We all use risk-adjusted cost estimates in everyday life. The above airport example addresses two key cost elements of risk, known (variances in the cost of the taxi) and unknown (an unex-pected mechanical problem with the aircraft that causes a cancel-lation). Similarly, Petrotrin aims to integrate risk into its Budgeting Process to ensure that critical risks to a project are identified and its impact and likelihood determined. It is also essential that the cost of the risk treatment strategies are estimated and included into the total cost of the project. This would assist in proactively managing the occurrences and extent of downside risks such as project delays and cost overruns.

How to create budgets with knowledge of risk?1. All project budgets should first be developed on a

risk-free basis.2. As risks are identified, the probabilities and conse-

quences of each risk are evaluated.3. Budgets are then updated to reflect the cost of mitiga-

tion plans / actions.

In Petrotrin, the completion of the Risk Assessment Form is mandatory, for all NEW and ONGOING:

• Capital Projects > TT$5MM• Non-recurrent projects > TT$1MM.

Frequently Asked Questions.

1. Q: How to access the form? A: Step 1.

• Open the Budget Proposal Form.• Click on the worksheet “Risk 11” highlighted below.

2. Q: Upon completion of the Risk Form, what’s next? A:

• The estimated cost for the treatment strategies will be incorporated in the Budget Form to produce a Risk Adjusted Project Cost.

• The Risk data will be approved, with the Budget Data, via the Budget Proposal Form

• The BAR Form will be updated to include a new area for risk data.

• The Risk Assessment Forms will be stored and the major risks will be monitored by the ERM Team.

3. Q: What is the difference between the economic evalua-tion (NPV, Payback etc) conducted for each project and the risk based budgeting?

A: The risk assessment form assigns an estimated cost for the treatment strategies for risks identified when conducting the economic evaluation. Although the strate-gies are taken into account, no provision for funds is made when the economic evaluation is done. This ensures “double allocation” of funds does NOT occur.

4. Q: Do I have to submit another risk form if one was done last year for the same project?

A: The business environment is different from last year. Therefore, the importance of some risks may have changed and the form can be updated to reflect this information.

Integrating Risk into Petrotrin’sBudgeting Process

Useful Tips and Tricks

An important part of keeping your computer functioning properly is keep-ing it up to date with the latest software patches including patches for the operating system. These updates also fix vulnerabilities in the software that could expose the computer to malicious attacks, or cause it to become infected with viruses and other malware that take advantage of bugs in the software. Most software has built in functionality to check the manufacturer’s website for updates (this feature requires an Internet connection), and to download these updates automatically. These are then either applied automatically or prompt the user to install. Sometimes the process requires that the computer be restarted for the updates to take effect. Updates may also be available on the manufacturer’s website for download

user installs malicious software disguised as updates. Vendors never send updates in emails. Many times software updates are issued to fix vulnerabilities in the software, therefore it is important to install these updates as soon as possi-ble to ensure that your computer is protected against the particular expo-sure that the update fixes. Keeping your anti-virus, spyware and firewall software updated is impor-tant as these can prevent attacks on your computer until the updates are installed. Petrotrin’s computers are updated automatically, both software and anti-virus, once they are connected to the network. If you think that your computer is not being updated please call the Service Desk at extension 7428 for assistance.

by the user to install manually. If down-loading from the Internet ensure that it is from a website that you trust. Don’t trust links in email messages as attackers have used email messages to direct users to malicious websites, where the

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Keeping your computer up to date

Tips on Making a Family BudgetThese days the word around the world is “recession” or down-turn. But there are simple tips that can help you to manage your money in these difficult times. See some of them below:1. Opt for simplicity. You can harness the power of Excel spreadsheets, Quicken and other software programs, but there is also nothing wrong with using an old-fashioned pencil and piece of paper. The main objective is to figure out whether you need or want to redirect your money toward priorities – or, better yet, dreams – that you consider important.2. Have a goal. Whatever your goal may be – a home purchase, a remodeling project, an exotic vacation – it can help you find the discipline you need to hide away money by a certain deadline. Reflect on a goal you truly want to meet and resolve to do it.3. Separate fixed and discretionary spending. Separate your fixed expenses, such as your rent or mortgage payment, utilities and car insurance, from your discretionary expenses. To arrive at real tallies, analyze your credit card and checking account statements carefully.4. Create discretionary subcategories. Many people have no idea how much they spend on dining out, travel, gifts, clothing, shoes and personal care. Track such expenses in specific ways, then establish realistic monthly allotments for each category.5. Pay off debt. If you’re reeling from the weight of credit card bills, student loans or other debt, a budget can help you see

how to dig your way out. Always allot enough money to pay more than the minimum payment due.6. Give yourself a buffer. What’s the most you ever spent on your utility bill? Build that highest number into your monthly budget. Also build in set amounts for emergencies and for “mad money” you can spend any way you want. With those contingencies covered, you’ll feel more comfortable investing a designated amount monthly – something everybody should do in some way, shape or form on a regular basis, even if the investment allotment is small.7. When paying in person, use cash. Many budgeting experts recommend labeling envelopes for categories of face-to-face purchases – such as groceries, gasoline or pet supplies – and stuffing cash into them each month. Why? Because it forces you to see what you are spending and increases your likelihood to show more restraint.8. Anticipate your expenses. At the beginning of the month, try predicting all your expenses for the next 30 days. Then you can make real-time adjustments as needed by shifting money from one category to another.9. Billing cycles can be changed. If your budgeting process reveals that you’re getting hit with one bill right after another, you can ask to change your billing cycles to space out the due dates. Most creditors are willing to make such adjustments.Good luck in making your family budget. Tell us at PetroCon-nect if it works.

(Risk-free) Budget

Project A $x

Risk Adjusted Budget

Total

Project

Cost

Cost of Risk

Treatment

Strategies Risk 1

Risk 2

Risk 3

Total Risk Adjusted Project Cost

$x $y $x + $y

Head ERM-Brenda Asiodu

Recently, I took a taxi to the airport from Pointe-a-Pierre. I budgeted for $200 for the cost of the journey, but I should have had $300 available to cater for the extra cost of picking up my friend along the way. What’s more, it would have been advisable to have additional cash, just in case something unex-pected happened – like an extended flight delay or even a cancellation.

Look out for similar articles in

coming issues

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Corporate Social Responsibility

On Monday 25th July 2011, Prime Minister Kamla Persad-Bissessar officially launched the Petrotrin sponsored, Siparia Police Youth Club at Iere High School, Siparia. The Youth Club consists of 175 students from the Siparia, Penal, Santa Flora and Fyzabad communities. Its main goal is to transform the youths through exposure to various development programmes. In his remarks, Petrotrin’s President, Kenneth Allum, expressed the Company’s continuing commitment to develop-ing the nation’s youth by providing opportunities for them to develop and showcase their talents and to become productive citizens. This initiative is one further example of the Company’s Corporate Social Responsibility at work. He was confident that the Petrotrin-sponsored Siparia Police Youth Club would

become a model for similar youth groups in the society. Among the other dignitaries present were the Honourable Colin Partap, Minister in the Ministry of National Security, the Honourable Stacy Roopnarine, MP for Oropouche West, Mr Leo Doodnath, Chairman of the Siparia Regional Corporation, Police Commissioner Dwayne Gibbs, Mr Richard Braithwaite, Chairman of the Energy Sector CSR Task Force, and Manager Corporate Communications, Gillian Friday. Those present were treated to a number of cultural perfor-mances from various cultural groups in the community. To commemorate the occasion, Prime Minister Persad-Bissessar distributed pins, in the form of the national flag to the members of the Youth Club, and advised them to wear them with pride.

Commissioner of Police, Dwayne Gibbs pinning tokens on members of the Siparia Youth Club. Summer

Camps 2011

Launch of Police Siparia Youth Club

Prime Minister Kamla Persad-Bissessar pinning tokens on members of the Siparia Police Youth Club.

A section of the members of the Siparia Police Youth Club. Seated at right, centre, is Petrotrin President Kenneth Allum.

Each year, during the July-August vacation Petrotrin hosts a number of summer camps to provide the children of employees with numerous fun activities designed to bring forth their skills, passion and intelligence. This year, the Information Resource Centre (IRC) under the Learning and Development Section hosted its eighth annual Skills Camp at different locations throughout the organization. Organizers targeted children between the ages of eight and 16 for this annual adventure. The team of facilitators included: Mr. Akash Beharry, Ms. Jeanine Harewood, Mr. Greg Dyer, Mr. Sudesh Sookdeo and the external facilitator Ms. Saira Dhanoo. Support was provided by graduates and undergraduates of the organization’s Undergraduate and Graduate Training Horizon Programme. The Skills Camp team continues to work hard each year to improve the standard, content and delivery of the workshops provided. The workshop this year included “Habla Espanol, People in Motion, Young Picasso’s School of Art, Digital Animation and Claymation. The Petrotrin Sports Club, Pointe-a-Pierre hosted a Vacation Youth Camp for employees’ children and those from surrounding communities in the seven to fifteen age group. The camp included sporting disciplines such as athletics, hockey, football, cricket, lawn tennis and table tennis with qualified coaches. It also involved lectures with officers from the Trinidad and Tobago Fire Service, the Trinidad and Tobago Police Service and outings to Movietowne, Playdium and the Wild Fowl Trust. The Petrotrin Fyzabad Sporting Club also hosted a number of children at its vacation camp. Their events included lectures, sports, games, field trips and other activities. With the catchy slogan, “School’s Out, Fun’s In”, the Petrotrin Pointe-a-Pierre Club also got in on the action, with a camp of activities including swimming, taekwondo, golf, fitness, football, dance and field trips.

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Nelson Biran recently retired from Petrotrin after a career that spanned more than 30 years. He joined the company in 1969 as a Student Techni-cian, Mechanical Engineering based at the Pointe-a-Pierre Refinery. On completion of his training at Texaco he migrated aboard to further his educa-tion with a degree in Architecture, Civil Engineering and Public Administra-tion. However his love for Trinidad drew him back in 1981 where he spent most of his time in E & P in several capacities and positions. At a function held at the Transport Office in Santa Flora earlier this year he advised employees to be dedicated to Petrotrin as it was a good company and everyone of us benefited from Petrotrin’s success. He urged workers to give their best as there is a positive outlook for Petrotrin and the benefits are better than any other company, having had experience in several multi national companies whilst working abroad. Biran was accompanied by his wife, Lynette and son Shaun at the function. Friends and colleagues paid tribute to him and he was presented with a 47” television. The function was chaired by Mr. Renwick Rojas and the speakers were Kain Look Yee, Vishan Garib and Anthony Dyer. It was well attended by all the E& P Managers

Nelson BiranBids Farewell

Zion Lewis, son of Sheldon Lewis of Trinmar Operations and Lisa Williams-Lewis of the Corporate Communications Department, recently earned distinction at the USA Karate Alliance Champion-ships held at the Intercontinental Hotel in Dallas, Texas, USA. Lewis, nine, who has been practicing martial arts for the past three years as a member of the Al-Hikmah School of Kung Fu International in San Fernando, was selected at the beginning of the year to join the team representing Trinidad & Tobago at this competition. The Trinidad and Tobago team competed in the Kung Fu category and captured 19 trophies in the weapons and kata disciplines. Lewis, who competed in the 13 years and under category, placed first in both disciplines. Of his performance, he said, “I am proud of myself. The competition was difficult and at first I was nervous, but I had prepared by practicing my form in the gym in the months leading up to the competition. I was satisfied with the results.” Petrotrin extends warm congratulations to the Lewis family.

Focus on People

Zion Lewis Wins International AwardNelson with his wife Lynette

Petrotrin Celebrates Emancipation Day 2011

Petrotrin employees emancipated themselves, even if only for a few hours, and engaged their inner African roots recently by attending various celebrations throughout the Company or simply by getting dressed in traditional African wear. The Trinmar African Awareness Committee began the Emancipation celebrations with a wonderful programme that had a great life lesson as its theme, “Learning from the past to embrace the future.” At Pointe-a-Pierre, the Emancipation celebrations commemorated the theme “Celebrating Our African Heritage.” This year is also the one designated by the United Nations to celebrate all Africans and persons of African heritage. The day opened with a very forceful and strong dance by the group, “Faces of Culture” followed by opening remarks from Ms. Jennifer Hodge who reminded all that “African heritage is reflected all around us.” African drumming and dance filled the air with an infectious, melodious and spirited sound that caused some of those in the audience to move their heads and feet unconsciously. Entertainers like Calypsonian Bally engaged and interacted with the audience, at times getting them to sing along. A choir got them to feel relaxed and peaceful. The décor cannot be forgotten as it exemplified the very essence of African freedom and embraced the use of many colours. Effortlessly, and as though they were gliding, were models that showcased the many styles, designs and traditions of African clothing. For art lovers and persons that appreciate talent and history, there were many artifacts and books on display. Each person who attended left with a very special memory of the event.

By Megan Monsegue

Wellness Page

18

Prostate cancer is the most frequently diagnosed cancer in men. Death rates from this cancer have leveled off since 1995, but some risk factors can still raise your chances of getting the disease. Certain risks, such as heredity, can't be avoided. But you can cut your risk in other cases by making lifestyle changes.Non-modifiable risksThese are risk factors for prostate cancer that you cannot change. Age. Age is the strongest risk factor for prostate cancer. The disease is rare before age 40. But the chance of getting it rises rapidly after age 50. More than 70 percent of men diagnosed are older than 65. Family history. If your father or brother has had prostate cancer, your chance of getting it more than doubles. The risk goes up even more if you've had several affected relatives, especially if any were diagnosed under age 60. Race/ethnicity. African American men and Jamaican men of African descent have the highest prostate cancer incidence rates in the world. African-American men are more than twice as likely to die from prostate cancer as white men. This may be due to finding the cancer late when the disease is more advanced. The disease occurs less often in Asian-American and Hispanic/Latino men than in whites. Nationality. Prostate cancer is most common in:

• North America• Northwestern Europe• Australia• Caribbean islands

It is less common in:• Asia• Africa• Central America• South America

The reasons for these differences are not clear, though more screening in developed countries may help identify more cases. Lifestyle or diet differences may play a role, too. For instance, men of Asian descent living in the U.S. have a lower risk for the disease than white Americans, but their risk is higher than men of similar ethnic backgrounds living in Asia.Modifiable risksThese are risk factors that you can control. Diet. Men who eat lots of red meat or high-fat dairy products seem to have slightly higher chances of getting prostate cancer. But these men also tend to eat fewer fruits and vegetables. It is not known which of these factors raises the risk for prostate cancer. Obesity. Being obese is not linked

with a higher risk of getting prostate cancer. But some studies on obese men who get the disease have found other connections. For instance, obese men with prostate cancer may have a higher risk of having a more aggressive form of the disease. They may also be at greater risk of dying from their prostate cancer. More research is needed to find out the complex connection between prostate cancer and obesity. Much more is known about how obesity can lead to other conditions, such as diabetes and heart disease. Getting to and maintaining an ideal weight will contribute to your overall health even if there proves to be no direct connec-tion with prostate cancer. Exercise. Most studies have shown that exercise does not cut prostate cancer risk. But some find that high levels of physical activity, especially in older men, may lower the risk of an advanced form. Again, more research is needed before guidelines can be made about exercise and prostate cancer. Exercise, though, is known to lower the risk for other chronic diseases, such as high blood pressure and diabetes. Ask your doctor how much exercise is right for you.

19PETROConnectConnect

Sports Corner

After 23 games and eight weeks of play-off matches in the seven team tournament, the PaP 10T 10T championship concluded on 2011 June 24, at the PLC back car park, with Marine sinking Hydro Combined in this inaugural tourna-ment at PaP. Batting first Hydro could only muster 43 for 7 in its ten overs with Donald Seetal top scoring with 19. Running between the wickets was Hydro’s demon on the day as 5 out of the 7 wickets went via the run out route (apparently some of the operators had to report for duty). Marine navigated the channel and cruised home in the tenth over losing 5 wickets. Employee of the match, Navid Mohammed, top scored for Marine with 12 and had 1 wicket for 10 runs. Special prizes for overall performances during the season were also handed out on the evening by Manager Corporate Communications Gillian Friday. These include:Best Bowler – 13/38 Vanita Ramharack ConversionBest Batsman – 107 Robbie Lalchan Hydro CombinedOutstanding Female Angela Goolcharan MarineBiggest Supporting Posse Medical SmashersMost Disciplined Team ConversionBest Dressed Team Hydro Combined

Also chosen were five (5) MVP Female and Male Cricketers of the Year, best catch and an MVP from each team. Teams say bring it on and are already looking forward to the 2012 fixtures.

On 2011 June 10 under the lights at Guaracara Park , the star studded Pumps team captured the “Champion of Champions” crown by defeat-ing E&P All-stars by 23 runs. Taking first strike, Pumps amassed 187 for 5, with Man of the Match Zad Clarke un-defeated on 92. Requiring just over 9 runs per over the Stars had an open-ing partnership of 86 in the first ten overs. With Daren Ganga chalking up 55, at the fall of his wicket the momentum was not there and the runs chase stopped. Veteran of the game Robert Ballack (Pumps) had best bowling figures on the night with 3 wickets for 31 runs in his 4 overs. At a very short presentation function held at the conclusion of the game, Senior Manager Refining (Ag) Asgar Ali-Hosein together with Pump Supertindent David Superville presented all the prizes, medals and trophies to the winners. A special prize went to Ainsley Weekes for his vocal and dancing support for the entire night. A new format for this tournament was introduced this year with teams from all the Companys’ operating areas playing in a preliminary round robin series, with all

matches being played at Guaracara Park under lights. This saw the winners of the three groups playing against each other in another series, the other team in the play-offs was E&P Combined.

On Wednesday 20th July, the Employee Assistance Programme Administration Section hosted a One Day Seminar entitled “Women and Mid-Life Crisis”, at the Pointe-a-Pierre Staff Club. A total of 68 women as well as, a surprising but more than welcome, 2 men were in attendance for this enlightening, all-day session. Discussion topics included Physi-ological and Hormonal Changes/Human Sexuality, Wellness Initiatives, and Understanding Mid-Life Crisis/Anatomy of an Affair. The feature speaker was

distinguished Clinical Psychologist, Dr. Diane Douglas. Dr. Douglas captured the attention of the attendees as she openly shared her personal experiences and spoke about what a Mid-Life Crisis is, what triggers it, how it manifests itself and how to overcome it. Mid-Life Crises usually occur between the ages of 35 and 50, and are not exclusive to women only, but to all who experience “a period of ambiva-lence and uncertainty; a time when persons tend to feel unhappy,

withdrawn, uneasy, dissatisfied and restless”. Dr. Douglas explained to the group that it was also an opportunity for creativity, and an avenue to realistically look at one’s life and to start to live while there was still time to do so. Congratulations must be extended to EAP for facilitating this important session that provided insight on how a Mid-Life Crisis can affect the physical, emotional and behavioral life of both men and women. Commendations must also be given to all the employees who participated openly and whole-heartedly.

Marine sinks Hydro Combined in P-a-P 10T 10T Final

Pumps Power Their Way to 2011 COC Hardball Title

Chief Medical Officer, Dr. David Jackson

Know the RisksProstate Cancer:

Confronting the Dreaded Mid-Life Crisis

CREDITSThe PetroConnect is published monthly for employees, retirees and other stakeholders.

We would like to print your views, Department highlights, personal stories etc.Send your comments to:PetroConnect,Corporate Communications Department, Casuarina Avenue, Pointe-a-Pierre, Republic of Trinidad and Tobago.Fax: (868) 658-1825 / Phone: 658-4200 Ext. 2811 / 2823For more info visit www.petrotrin.com

Editor: Gillian Friday Editorial Team: George Comissiong, Walford Coker, Elmo Griffith, Afiya Butler-Ray, Meagan MonseguePhotography: Elmo Griffith, Kerri-Ann Joseph, Lisa Williams-Lewis Layout+Design: Kishore Raghoobar

Sports Corner

Corporate News at a glance No. 117 - July / August 2011

Petrotrin“On the Ball”Cricket Clinics

Petrotrin“On the Ball”Cricket Clinics

Corporate Social Responsibility in ActionCorporate Social Responsibility in Action

Sports CornerSports Corner

Petrotrin On the Ball Cricket