Shell’s T&T boss: Diversify Quickly

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(By Trinidad Express, Aleem Khan, 18.May.2018) — Royal Dutch Shell’s Derek Hudson, local country chair of the world’s second largest oil and gas company, said Trinidad and Tobago has ‘only scratched the surface’ with regard to its offshore oil and gas exploration and production. However, speaking at the Institute of Marine Affairs (IMA) first public lecture to mark its 40th anniversary, he urged diversification of the economy. As one possible direction in which to diversify, he mentioned the ‘blue economy’, which refers to production and consumption of goods and services from, in, of and back to the sea.

Hudson said: “When we speak for a long time about the economic diversification of T&T and the progress that we have made in our coastal waters and marine areas, it’s something that we really, seriously need to look at, as we advance this economy going forward, and even from somebody who is in the energy sector today, (I say) Trinidad needs to diversify its economy and do so quite rapidly.”

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