(BPC, 1.Dec.2020) — Bahamas Petroleum Company plc provided an update on its strategy, deliverables and 2021 work program for its portfolio of assets in Trinidad and Tobago and Suriname. The company’s work program priorities follow receipt of a Competent Person’s Report (CPR) by independent reserves auditor ERC Equipoise Pte Ltd […]
Category: Trinidad and Tobago
Trinidad and Tobago energy
Bahamas Petroleum Inks Goudron ESPC, Issues Shares
(BPC, 30.Nov.2020) — Bahamas Petroleum Company plc (BPC) advised the Goudron Enhanced Production Sharing Contract (ESPC) has been signed. As a consequence, the company will proceed to issue 35,759,140 new ordinary shares in BPC, the issue of which was conditional on signing of the Goudron EPSC. Goudron EPSC The company […]
Webinar: Developing Wind Projects
(Energy Analytics Institute, 26.Nov.2020) — The webinar will highlight issues around developing wind resources and panelists will discuss developing wind projects in different parts of the world, financing and available technologies. Feature speakers include: — Nicholas Jackman, CFO Ansa McAl Ltd. — Martin Voght, Managing Director Renewable Energies, MPC Capital […]
BP Eyes First Matapal Gas Production In 2022
(Energy Analytics Institute, 6.Nov.2020) — BP Trinidad and Tobago (bpTT) commenced drilling the first well of a three well Matapal development. Once finalized, these wells will be tied into the nearby Juniper platform with first natural gas flows slated for 2022. Drilling of the first well is slated to be […]
Touchstone Raises $30mn In Private Placement
(Touchstone, 2.Nov.2020) — Touchstone Exploration Inc. placed 24,291,866 new common shares of no par value (the “Placing Shares”) with institutional and other investors in the United Kingdom and Canada at a price of 95 pence per Placing Share (approximately C$1.64) (the “Placing Price”), raising gross proceeds of approximately $30mn (approximately […]
Touchstone Proposes Up To $30mn Private Placement
(Touchstone, 2.Nov.2020) — Touchstone Exploration Inc. proposed placing in the UK and Canada of up to $30mn (approximately ÂŁ23.2mn and C$40mn) through the issue of common shares of no par value (the”Placing Shares”) with institutional and other investors in the United Kingdom and Canada. In the event of excess demand, […]
Trinidad Briefs: Nabarima Stable, Budget Prices
(Energy Analytics Institute, 23.Oct.2020) — Energy briefs from Trinidad and Tobago related to an update on the status of the FSO Nabarima offshore Venezuela in the Gulf of Paria and commodity prices used in the 2021 budget. FSO Nabarima Stable, Not An Environmental Threat The FSO Nabarima located offshore Venezuela […]
US Embassy In Trinidad Concerned About Nabarima
(Energy Analytics Institute, 16.Oct.2020) — The US Embassy in Trinidad and Tobago expressed continued concerns about the potential risk to safety and environment posed by the Venezuelan-flagged vessel, Nabarima. The vessel is carrying around 1.2-1.3 million barrels and is located in Venezuela’s Gulf of Paria. “We strongly support immediate actions […]
Touchstone Reports Natural Gas Find At Chinook
(Touchstone, 14.Oct.2020) — Touchstone Exploration Inc. completed drilling the Chinook-1 exploration well on the Ortoire exploration block, onshore in the Republic of Trinidad and Tobago (Touchstone 80% working interest operator, Heritage Petroleum Company Limited 20% working interest). The well encountered significant hydrocarbon accumulations based on wireline log data. Chinook-1 is […]
Matapal First Gas Expected In 2022, bpTT Says
(bpTT, 8.Oct.2020) — bp Trinidad and Tobago LLC (bpTT) continues to invest in the energy future of Trinidad and Tobago and has commenced work on the Matapal field development. Matapal is a subsea development comprised of three wells that tie back into the existing Juniper platform. Matapal will deliver gas […]
Trinidad Chamber Responds To 2021 Budget
(Trinidad and Tobago Newsday, 7.Oct.2020) — Following the reading of the national budget for fiscal 2020/2021, the Trinidad and Tobago Chamber of Industry and Commerce acknowledges the unprecedented economic challenges which impacted its formulation. With TT’s main revenue streams still dependent on gas and oil – commodities which are not […]
bpTT Initiates Galeota Expansion Project
(bpTT, 2.Oct.2020) — bp Trinidad and Tobago LLC (bpTT) announced the safe start-up of the Galeota expansion project (GEP). The project has been under construction since late 2016 and was started up on 28 September 2020. Its completion is a major milestone for bpTT. The Galeota Terminal is core to […]
Trinidad To Inspect Venezuela Oil Storage Vessel
(Argus, 18.Sep.2020) — Trinidad and Tobago is concluding arrangements with Venezuela to allow its inspectors to access a damaged oil storage vessel in the Gulf of Paria, the Caribbean state’s energy ministry told Argus. The inspection of the Venezuela-flagged Nabarima is meant to “independently verify reports that the vessel has […]
bpTT And TT Government Ink License Extensions
(bpTT, 9.Sep.2020) — bp Trinidad and Tobago (bpTT) announced the successful completion of negotiations with the government of Trinidad and Tobago on extensions to its exploration & production licenses. For several months, bpTT, its co-licensees and the government have been engaged in negotiations related to commercial issues that are important […]
Trinidad’s Energy Chamber Launches LCMS
(Energy Chamber, 9.Sep.2020) — The Energy Chamber of Trinidad and Tobago announces the launch of its Local Content Management System. The launch of the system took place in a virtual event on 9 September 2020. In attendance were over 300 representatives from the Upstream, Downstream and Energy Service contractors and […]
Drilling Rig Virtual Tour: AAPG Trinidad
(Energy Analytics Institute, 20.Jun.2020) — AAPG Young Professionals Trinidad and Tobago chapter offered a free webcast that consisted of a virtual rig tour, which was narrated by Mr. Neil Ramkhalawan. During the virtual drilling rig tour, Ramkhalawan Neil shared his passion for the drilling environment and engaged attendees on a […]
TTNGL: Condensed Interim Financial Statements
(TTNGL, 14.Aug.2020) — The 2019 novel coronavirus disease (Covid-19) pandemic has ravaged the worldwide economy and reduced economic activity has resulted in changes to the energy supply and demand patterns of 2020. Economies across the world have suffered declines in gross domestic product during the first half of 2020, as […]
NGC Supports Energy Journalism Training
(NGC, 29.Jul.2020) — On July 08th 2020, The National Gas Company of Trinidad and Tobago Limited (NGC) concluded a six-week energy journalism training which saw local and regional journalists tuning in online every Wednesday from June 3rd to July 8th 2020 to learn more about the energy sector. Resource professionals […]
BHP’s Ruby Project Moving Forward Offshore Trinidad
(Energy Analytics Institute, 21.Jul.2020) — The Ruby project offshore Trinidad & Tobago expects initial production in calendar year 2021, according to BHP. The project will have capacity for five production wells to be tied back into existing operated processing facilities, with gross capacity to produce up to 16,000 barrels per […]
NGC And BHP Ink Ruby Field Gas Supply Deal
(NGC, 21.Jul.2020) — The National Gas Company of Trinidad and Tobago Limited (NGC) and BHP announced successful completion of negotiations of a Gas Sales Agreement for the Ruby Field. Ruby is located in Block 3(a), off the east coast of Trinidad, and is expected to be commissioned in the fourth […]
Trinidad Cuts Oil, Gas Budget Price Assumptions
(Argus, 25.Jun.2020) — LNG exporter Trinidad and Tobago has reduced the crude and natural gas price assumptions in its national budget. According to the finance ministry’s mid-year economic review obtained by Argus, the country’s baseline scenario for macroeconomic conditions is now pegged to $45/bl for Brent and $2.90/MMBtu for the […]
Keith Rowley’s Address – Energy, Renewables Event
(Trinidad Prime Minister, 24.Jun.2020) — Prime Minister Dr the Hon Keith Rowley’s Feature Address – Energy Efficiency and Renewables Conference 2020. Ladies and Gentlemen, a very good morning to you all. I am once again honoured to be among such a knowledgeable gathering, even if it has to be in […]
Touchstone Closes Trinidad Based $20mn Term Loan
(Touchstone, 16.Jun.2020) — Touchstone Exploration Inc. announced on 15 June 2020 the conditions precedent were satisfied in respect of its previously announced $20 million, seven-year term loan agreement with Republic Bank Limited. Touchstone withdrew $15 million to satisfy obligations relating to prepaying the company’s former C$20 million credit facility. Pursuant […]
Touchstone Reports Cascadura Pressure Analysis
(Touchstone, 15.Jun.2020) — Touchstone Exploration Inc. announced final production test results from the Cascadura-1ST1 well on the Ortoire exploration block. The final test results for both the lower test (6,056 to 6,218 feet) and the upper test (5,570 to 5,915 feet) have been reviewed by the Company’s independent reserves evaluator, […]
Oil Workers In Mexico Plead To Come Home
(The Guardian, 4.Jun.2020) — Dozens of Trinidad and Tobago oilfield workers in Mexico have issued a plea to the government to allow them to return home. The workers issued a statement to the media Wednesday night saying they are currently stranded there. They say that before going to Mexico, they […]
Trinidad-Venezuela Ties Omit Natural Gas For Now
(Argus, 29.May.2020) — Trinidad and Tobago declared explicit support for Venezuela’s US-sanctioned government this week, but the political ties will not revive natural gas cooperation in the near term because industrial demand has crumbled. Venezuela’s vast untapped offshore gas deposits and cross-border fields have long been seen as vital to […]
Touchstone Reports 1Q:20 Results, Operational Update
(Touchstone, 14.May.2020) — Touchstone Exploration Inc. reports its operating and financial results for the three months ended March 31, 2020. Selected information is outlined below and should be read in conjunction with Touchstone’s March 31, 2020 unaudited interim consolidated financial statements and related Management’s Discussion and Analysis, both of which […]
Touchstone Annual Shareholder’s Meeting
(Touchstone, 14.May.2020) — Touchstone Exploration Inc. will be holding our annual meeting of shareholders on Wednesday, June 3, 2020, at 10:00 a.m. (Mountain time). This year, to proactively address the unprecedented public health impact of COVID-19 and to mitigate risks to the health and safety of our communities, shareholders, employees […]
Nutrien Temporarily Shuts Trinidad Ammonia Facility
(Nutrien Litd., 5.May.2020) — Nutrien Ltd. has made the difficult decision to temporarily shut down one of the four ammonia (NH3) plants at its Trinidad facility. The temporary shutdown is in response to the current market price of ammonia. The plant has an annual ammonia capacity of 600,000 metric tonnes […]
Trinidad Monitoring Oil Prices On Global Market
(Jamaica Gleaner, 21.Apr.2020) — The Trinidad and Tobago Government Tuesday urged nationals not to panic as the oil-and-gas-rich country prepared to count the possible loss of billions of dollars in revenue as a result of the historic drop in oil prices on the global market. “Oil and gas are cyclical. It […]
How Will The Oil $$ Crash Affect Trinidad And Tobago?
(Trinidad Express, 20.Apr.2020) — History was created on the global oil market today when the price of the US benchmark, West Texas Intermediate, plunged into negative territory for the first time ever. At 2.30 p.m. today in New York, where the WTI benchmark is traded, the futures price of American […]
Collapsing Demand Sets Terms In OPEC+ Battle
(WoodMac, 9.Apr.2020) — Since OPEC+’s failure to agree on production restraint on 5-6 March, the implications of the Covid-19 pandemic have become far clearer, sparking a crisis in the oil market as prices fell and supply ramped up. The problem for these producers is the scale of the fall in […]
Brief Intro Remarks By OPEC Secretary General
(OPEC, 9.Apr.2020) — Delivered by HE Mohammad Sanusi Barkindo, OPEC Secretary General, at the 9th (Extraordinary) OPEC and non-OPEC Ministerial Meeting, 9 April 2020, via webinar. Excellencies, Over the course of the last few months, COVID-19 has pervaded almost every aspect of life. We see it in the lockdowns initiated […]
Caribbean Facing Less Bright Future For Oil And Gas
(Jamaica Gleaner, 29.Mar.2020) — Just a few weeks ago it was possible for Trinidad & Tobago’s Prime Minister, Dr Keith Rowley, to indicate in a major speech, that the Caribbean as whole had a potentially very bright future as a major western hemisphere oil and gas supplier. He had good […]
Touchstone Updates On Trinidad Operations
(Touchstone, 26.Mar.2020) — Touchstone Exploration Inc. reports its operating and financial results for the three months and year ended December 31, 2019. Selected information is outlined below and should be read in conjunction with Touchstone’s December 31, 2019 audited consolidated financial statements, the related Management’s discussion and analysis and Annual […]
Columbus Ops In Trinidad Unaffected By Covid-19
(Alliance News, 17.Mar.2020) — Columbus Energy Resources PLC on Tuesday said operations in Trinidad are “largely unaffected” and remain open. The oil & gas producer and explorer said as of Monday, Trinidad & Tobago has four confirmed cased of coronavirus, with no fatalities. However, the government has implemented a range […]
Methanex Cut Production In Trinidad And Chile
(Methanex, 16.Mar.2020) — Methanex Corporation has idled its Titan plant in Trinidad effective today and will idle its Chile IV plant effective April 1, 2020. These changes are being made for an indefinite period. John Floren, President and CEO of Methanex, commented, “We anticipate that methanol demand could be impacted […]
EOG Resources Updates 2020 Capital Plan
(EOG, 16.Mar.2020) — EOG Resources, Inc. updated its full-year 2020 capital plan as a result of the significant decline and increased volatility of commodity prices. Exploration and development expenditures for 2020 are now expected to range from $4.3 billion to $4.7 billion, including facilities and gathering, processing and other expenditures, […]
TouchStone Reports Results of Cascadura Well
(March 11, 2020) — Touchstone Exploration Inc. provided an exploration update, highlighted by an update on production testing of the Cascadura-1ST1 liquids rich gas discovery on the Ortoire exploration block, onshore Trinidad and Tobago (Touchstone 80% working interest operator, Heritage Petroleum Company Limited 20% working interest). Production testing of the […]
TT Energy Minister: We Could Be Hurt Severely
(CNC3, 10.Mar.2020) — Energy Minister Franklin Khan has admitted that if the ongoing price-war between Saudi Arabia and Russia continues for a prolonged period this country could be significantly hurt. In a brief interview yesterday Khan told Guardian Media: “The Saudi’s have their own agenda, Russia has a more geopolitical […]
Oil Price Crash Spells Trouble For Trinidad
(Trinidad Express, 9.Mar.2020) — The oil price crash yesterday spells trouble for Trinidad and Tobago’s economy. University of the West Indies economist Dr Roger Hosein said the Government must immediately seek to have a contingency meeting and develop a “plan B” to deal with the financial crisis. It also must […]
Misleading Expectations: Guyana’s Oil Bonanza
(Trinidad & Tobago News, 25.Feb.2020) — In a Statement delivered at the Opening of the Energy Conference recently Prime Minister Dr Keith Rowley dishonestly sought to create false and misleading expectations in an election year namely that: — T&T can gain continental shelf-access to and cash in on the huge […]
Touchstone Closes $11.6 Million Private Placement
(Touchstone, 20.Feb.2020) — Touchstone Exploration Inc. announces that further to the company’s announcement on February 19, 2020 regarding the proposed placing (the “Placing”), the company has placed 22,500,000 new common shares of no par value (the “Placing Shares”) with institutional investors in the United Kingdom at a price of 40 […]
Trinidad And Barbados Sign Unitization Agreement
(Office of the PM of Trinidad and Tobago, 17.Feb.2020) — Prime Minister of the Republic of Trinidad and Tobago, Dr the Hon. Keith Rowley and Prime Minister of Barbados, the Hon. Mia Mottley signed a unitization agreement today (Monday 17 February, 2020) in Bridgetown, Barbados. The agreement will allow for […]
Fact Box: Atlantic LNG Trains
(Atlantic LNG, 10.Feb.2020) — Over our years of expansion, between 1999 – 2005, we first tripled the capacity of Train 1 with Trains 2 and 3, and then nearly doubled Train 1’s capacity with the construction of Train 4. The facility’s full capacity is 15 million tonnes per annum (mtpa) […]
Trinidad Energy Conference 2020: Photojournalism
(Energy Analytics Institute, Ian Silverman, 10.Feb.2020) — Select photos from the Trinidad and Tobago Energy Conference 2020 hosted by the Energy Chamber of Trinidad and Tobago and held in Port of Spain. More photos can be found on our Instagram page. © Energy Analytics Institute (EAI). All Rights Reserved. ***
Rowley Comments On Loran-Manatee Deal
(Office of the PM of Trinidad and Tobago, 7.Feb.2020) — Trinidad and Tobago’s Prime Minister the Honourable Keith Rowley provided details related to the agreement for the development of the Loran-Manatee field that straddles the maritime borders of Trinidad and Tobago and Venezuela. Statement by Dr the Honourable Keith Rowley, […]
PPGPL Acquires Twin Eagle’s Marketing Assets
(PPGPL, 7.Feb.2020) — Phoenix Park Gas Processors Limited announced its acquisition of a US entity. Effective February 1, 2020, PPGPL through its wholly owned US subsidiary, Phoenix Park Energy Marketing LLC, acquired the NGL marketing assets of Twin Eagle Liquids Marketing LLC. According to President Dominic Rampersad, “Through this acquisition, […]
Touchstone’s Cascadura Confirms Liquids Discovery
(Touchstone, 6.Feb.2020) — Touchstone Exploration Inc. announced flowback testing of the first stage of the Cascadura-1ST1 well has been completed, confirming that the well is a significant liquids rich natural gas discovery. Highlights — Cascadura-1ST1 production testing commenced on February 4, 2020, with the first stage testing the lower most […]
Banks Willing To Invest In Renewables
(Trinidad Newsday, 6.Feb.2020) — Caribbean banks are well aware of the potential for investing in renewable energy across the region. What is required, however, is a more streamlined approach to policy. The Caribbean is blessed not just with hydrocarbons but also major resources for renewable energy like solar, wind and […]