It also owns the Paria Fuel Trading Company subsidiary, which imports refined petroleum products, and stores and distributes them domestically.

A joint venture of Trintopec, Trintoc, and the government's National Gas Company, it took over the assets of the South East Coast Consortium, a joint venture of foreign multinational oil companies producing oil off Trinidad's southeast coast.

At the same time, Petrotrin was responsible for managing the country's sole petroleum refinery, whose existence undercut the profits foreign oil companies might expect from selling refined products back to Trinidad and Tobago.

The government loaned TPHL TT$1.2 billion to help cover the cost of restructuring and to meet short-term debt.

Attorney Michael A.A. Quamina, a close associate of Prime Minister Keith Rowley, was appointed the new TPHL board chairman.

Imbert pointed out that the government was being asked to loan Patriotic the cost of the sale plus all interest, which he characterized as "giving away" the refinery.

TPHL said the delays were caused by ongoing issues with Petrotrin's restructuring and the resolution of debt and sale of assets.

[11] The Caribbean diving disaster was an incident in February 2022 in which a group of five divers working for the Paria Fuel Trading Company were sucked into a pipeline from a hyperbaric chamber.

[12] An investigation by the government of Trinidad and Tobago concluded that the deaths of the divers were due to "gross [...] and consequently criminal" negligence[13] and made recommendations that charges be laid for corporate manslaughter.