NEC recovers US$484,000 of Well Services debt

Na­tion­al En­er­gy Cor­po­ra­tion of Trinidad and To­ba­go Lim­it­ed has re­cov­ered US$484,000 of a US$779,619.69 debt owed by Well Ser­vices Pe­tro­le­um Com­pa­ny for its use of berth three and as­so­ci­at­ed ma­rine fa­cil­i­ties at the Port of Brighton, La Brea.

In a news re­lease yes­ter­day, Na­tion­al En­er­gy dis­closed that the out­stand­ing rental pay­ments dat­ed back to 2022 and that a con­sent or­der had been se­cured through High Court pro­ceed­ings, re­quir­ing Well Ser­vices to pay the full out­stand­ing sum, to­geth­er with in­ter­est and Na­tion­al En­er­gy’s le­gal costs.

The state en­ter­prise’s cur­rent board, which took of­fice in Ju­ly 2025, moved to re­cov­er the debt af­ter iden­ti­fy­ing long­stand­ing prob­lems with the col­lec­tion of rental in­come and the en­force­ment of pay­ment agree­ments.