While the Patriotic Energy and Technologies company said it was “optimistic” after being granted a meeting with Finance Minister Colm Imbert yesterday to explain its proposal for purchase of the Petrotrin refinery, the government still stands on its decision not to accept the offer.

Yesterday, Patriotic said it was able to clarify its proposal, which the Finance Minister exactly one week ago announced had been rejected. 

But in a statement issued this morning, the Finance Minister confirmed that the meeting will not change the current standing- that is, the proposal still does not satisfy the State’s requirements.

Government will return to the open market shortly, seeking a new buyer for the multi-million dollar state asset.

See the Minister’s full statement below: