National Energy Secures US$780K Payment Of Outstanding Berth Charges

National Energy Corporation of Trinidad and Tobago Limited (National Energy) has successfully secured payment of US$779,619.69 owed by Well Services Petroleum Company Limited (Well Services). This sum represents outstanding rental payments owed to National Energy for the use of its Berth 3 and associated marine facilities at the Port of Brighton, La Brea.

These outstanding rental amounts date back to 2022. Upon taking office in July of 2025, the new Board found an untenable state of affairs whereby rental agreements were not escalated, rents were not collected, overdue rents were in some cases statute-barred, and in other cases agreements to make payments for outstanding rental charges were never enforced. The present Board took immediate steps to address the untenable state of receivables, one of which was the Well Services agreement.

Despite written acknowledgements and agreements to make periodic payments of the outstanding rents, the previous National Energy Board and management took no steps to collect the outstanding rents due. This particular claim was at risk of being statute-barred and the outstanding sum of US$779,619.69 being lost, had immediate steps not been taken by the present Board to recover this outstanding sum. The conduct of the previous Board in this regard was nothing short of reckless, negligent, irresponsible, and represented a contumelious breach of duty toward National Energy. Had the previous Board continued in office, the sum of US$779,619.69 would have been surely lost.