Category: Trinidad and Tobago
Trinidad and Tobago energy
Petrotrin Settles Debts, Fights Sabotage
(Trinidad and Tobago Newsday, Carla Bridglal, 1.Dec.2018) — Termination and other exit payments owed to Petrotrin’s workers as part of a $2.7 billion compensation settlement have finally started appearing in bank accounts and will continue to be processed throughout the weekend. The disbursement of funds began on Friday – also […]
Chet Morrison Completes EPCIC Project Offshore Trinidad And Tobago
(Chet Morrison and DeNovo, 27.Nov.2018) — Chet Morrison Contractors LLC has successfully completed the fabrication, installation and mechanical completion of: — A Conductor Supported Platform (CSP) — Offshore subsea pipeline and platform tie-in — Pipeline shore crossing and onshore connection for gas processing — Final pre-commissioning and commissioning of integrated […]
LatAmNRG Chart Analysis: Venezuela’s R/P Rises As Oil Output Plunges
(Energy Analytics Institute, Pietro D. Pitts, 24.Nov. 2018) — Venezuela is suffering a complete meltdown across all sectors. The Venezuelan oil sector, which generates upwards to 95% of the country’s foreign currency revenues, is in a precarious state to say the least as oil output continues its downward trend. Interesting […]
Petrotrin Hospital To Be Leased Or Sold
(Trinidad and Tobago Newsday, Julien Neaves, 24.Nov.2018) — Energy Minister Franklin Khan has announced operations at the Augustus Long Hospital in Pointe-a-Pierre, which has serviced the medical needs of Petrotrin employees, retirees and their dependents, will be terminated and it will be offered for lease or sale in January next […]
Demolished Homes Too Close To Oil Wells In Trinidad
(Trinidad and Tobago Newsday, Julien Neaves, 24.Nov.2018) — Energy Minister Franklin Khan says homes demolished in the Santa Flora area this week were located too close to oil wells and the owners were served notice more than a year ago. He was responding to a question in Parliament on Friday […]
TT Budget On Oil Price Swing
(Trinidad and Tobago Newsday, Carla Bridglal, 22.Nov.2018) — Crude oil’s importance to the TT economy is now second to natural gas, but its contribution is by no means miniscule — estimated to be 6.8 per cent of GDP in 2018 — and so the country should at least be monitoring […]
DeNovo Delivers Initial Gas From Iguana Field Offshore Trinidad
(DeNovo Energy, 21.Nov.2018) — DeNovo Energy Limited, a subsidiary of the Proman Group, announced the first commercial supply of gas from the Iguana Field in Block 1(a), which will deliver 80 million cubic feet of gas per day (Mmcf/d) once fully operational. DeNovo, which became the operator of the field […]
Ensign Moves Up Trinidad Bid Deadline
(Financial Post, 19.Nov.2018) — Ensign’s date change makes it more likely that it will emerge as the successful bidder for Trinidad, CIBC analyst says. Rising temperatures in the battle between two Calgary drilling companies for ownership of a third were matched by rising share prices for all three on Monday. […]
Trinidad Government Defends Guarantee To Petrotrin
(CMC, 16.Nov.2018) — The Trinidad and Tobago government Wednesday said it provided guarantees of more than US$400 million to the cash-strapped oil company, Petrotrin, to meet its financial and other obligations so far this year. Finance Minister Colm Imbert told legislators that as a result of the guarantee, the public […]
Venezuela Pushing For Dragon Gas In 18 Months
(Trinidad Express, 15.Nov.2018) — Venezuela’s minister of energy, Manuel Quevedo, said yesterday that his country’s state-owned oil giant PDVSA expects to start sending natural gas to Trinidad from the Dragon field, off this country’s north-west coast, within two years. Speaking at a news conference following the 20th ministerial meeting of […]
T&T Energy Minister: Positive Growth Forecast For NatGas Markets
(Loop News, 14.Nov.2018) — Minister of Energy and Energy Industries and President of the Gas Exporting Countries Forum, Franklin Khan, said the natural gas industry is forecast to grow within the coming year, a good indicator for Trinidad and Tobago. Speaking at a media briefing after the second session of […]
Producer Trinidad Calls For Global Gas Pricing Index
(Reuters, 13.Nov.2018) — Trinidad and Tobago’s Prime Minister Keith Rowley on Tuesday called on the Gas Exporting Countries Forum (GECF) to develop and implement a gas pricing index to ensure members receive adequate returns on the sale of the hydrocarbon. As gas supplies become increasingly available for consuming countries through […]
Is Your Gasoline Burning Out Faster?
(Trinidad Express, Sandhya Santoo, 7.Nov.2018) — Is super gasoline burning faster? This is the claim by some motorists who are insisting that the fuel is burning faster, leading to lower mileage per litre and higher costs. And many taxi drivers say that the Super gasoline is causing economic hardship. Some […]
EOG Resources Reports 20% Collapse In Trinidad Gas Production
(Energy Analytics Institute, Piero Stewart, 4.Nov.2018) — EOG Resources, Inc. (EOG) reported a 20% collapse in natural gas production in Trinidad in the third quarter of 2018 (3Q:18). Looking forward to the next quarter, the scenario doesn’t look promising. Gas production in Trinidad was 260 million cubic feet per day […]
BP Extends Contract With Joe Douglas In Trinidad By One Well
(Energy Analytics Institute, Jared Yamin, 2.Nov.2018) — BP has extended its contract with the Joe Douglas in Trinidad by one well with an expected duration of 76 days. The extension includes one additional two-well option at then market rates, Rowan Companies plc announced in an official statement. *** #LatAmNRG
Natgasoline Places Around $900 Million Of New Debt
(Proman and CEL, 2.Nov.2018) — Consolidated Energy Limited (CEL) and OCI N.V. announced that their subsidiary Natgasoline LLC, the largest methanol production facility in the United States and one of the largest globally, has priced around $900 million of new senior secured debt financing, including a $565 million Term Loan […]
Petrotrin Moves Against Land Grabbers
(Trinidad and Tobago Newsday, Azard Ali, 29.Oct.2018) — Starting today, Petrotrin will employ measures to stop people from grabbing its lands. The state-owned refinery is expcted to cease operations on November 30, and transfer its assets into new companies being set up. Even as it does so, it now faces […]
BP: Angelin Reaches Milestone
(BP, 12.Oct.2018) — The Angelin facility marked a major milestone on October 12, 2018 with the completion of the McDermott EPCIC scope called the Total Facility Handover. Other activities completed were the hydrotesting, cleaning, and drying of the pipeline, as well as tying in the final spool to the existing […]
Trinidad Government Defends Decision To Close Petrotrin
(CMC, 3.Oct.2018) — The Trinidad and Tobago government Monday reiterated its position that it was necessary to close down the refinery of the state-owned oil company, Petrotrin, insisting that the company was losing billions of dollars (One TT dollar=US$0.16 cents) annually. Finance Minister Colm Imbert, delivering the TT$51.7 billion budget […]
Trinidad to Raise Gasoline Price, Use $65/bbl Oil in 2019 Budget
(Energy Analytics Institute, Aaron Simonsky, 1.Oct.2018) — Trinidad and Tobago will use a $65 per barrel oil price to calculate its 2019 budget. Other key highlights related to the 2018/2019 budget were outlined by Finance Minister Colm Imbert in a report titled: “A Genuine Economic Turnaround,” and published by CNC3. […]
$2.6 Billion to Close Petrotrin Refinery
(LoopTT, Darlisa Ghouralal, 1.Oct.2018) — Severance packages for retrenched Petrotrin workers are expected to cost the State in the region of $2.6 billion. Finance Minister Colm Imbert made the announcement based on initial estimates as he delivered the 2018/2019 fiscal package in Parliament on Monday. State-owned oil company Petrotrin began its […]
Trinidad Energy Chamber, Petrotrin Officials Discuss Refinery Closure
(Energy Analytics Institute, Aaron Simonsky, 30.Sep.2018) — Members of the Energy Chamber of Trinidad & Tobago and a Petrotrin transition team meet to discuss issues related to closure of the Petrotrin refinery, among others energy related issues. The officials discussed the impending closure of the Petrotrin refinery, located Pointe-Ă -Pierre, and […]
Khan: No Fuel Supply Disruption
(Trinidad and Tobago Newsday, Julien Neaves, 26.Sep.2018) — Energy Minister Franklin Khan has assured there would be no disruption in fuel supply to the travelling public with the closure of the Petrotrin Refinery next Monday. Khan was responding to a question in the House yesterday from Pointe-a-Pierre MP David Lee […]
Petrotrin Loses Board Member
(Trinidad and Tobago Newsday, Yvonne Webb, 20.Sep.2018) — Days before Petrotrin’s refining operation ceases and workers are retrenched, a member of the board who would have participated in the restructuring exercise, has become the first casualty of the plan. An internal circular from the company to all employees confirmed board […]
Energy Chamber Gives Thumbs Up to MOU Between Guyana, Trinidad
(Energy Analytics Institute, Ian Silverman, 20.Sep.2018) — The Energy Chamber of Trinidad and Tobago announced its agreement with an Memorandum of Understanding (MOU) signed between the governments of Guyana and Trinidad and Tobago. The MOU recognizes development of the energy sector contributes significantly to strengthening of economic and social development […]
Prime Minister Rowley And President Granger Sign Energy MOU
(Office of the T&T Prime Minister, 19.Sep.2018) — Prime Minister Dr the Honourable Keith Rowley and President of the Cooperative Republic of Guyana His Excellency Brigadier David Granger signed a Memorandum of Understanding on Energy Sector Cooperation today Wednesday 19 September, 2018. Prime Minister Rowley said today represents a documentation […]
More Than TT$1 Billion in Compensation for Petrotrin Workers
(CMC, 19.Sep.2018) — The Trinidad and Tobago g overnment Monday said the compensation package for workers being laid off by the closure of the oil refinery of the s tate-owned company, Petrotrin could be more than TT$1 billion (one TT dollar=US$0.16 cents). But energy minister, speaking in the Senate, said […]
Expert Says Closure of Petrotrin Refinery Will Decimate Trinidad
(Trinidad Express, 17.Sep.2018) — Former Director of Energy Industries at Industrial, Jim Catterson, says closure of the Petrotrin refinery makes no economic sense. He said the closure would decimate south Trinidad. Catterson said unemployment would rise and poverty would spread across the nation. Speaking at a press conference at the […]
Barbados Hunting New Suppliers Following Closure of Petrotrin Refinery
(Jamaica Gleaner, 14.Sep.2018) — Barbados says it is holding discussions with a number of suppliers to replace the energy arrangements it had with oil refinery Petrotrin. The refinery, based in Trinidad & Tobago, is locking down operations, a measure it blamed on increasing financial losses. The closure has led to […]
NP CEO Says No Fallout On Refinery Closure
(Trinidad and Tobago Newsday, Sasha Harrinanan, 12.Sep.2018) — Most everyone knows about the 1,700 workers who will be out of a job once Petrotrin closes its oil refinery in Pointe-a-Pierre. What fewer people know is that when confirmation of this came on August 28, some National Petroleum Marketing Co Ltd […]
Venezuela Oil Production Continues to Collapse
(Energy Analytics Institute, Jared Yamin, 12.Sep.2018) — The decline is consistent and constant as well as consistently and constantly bad, writes Caracas Capital Market in a research note emailed to clients. Summary details from the research note follow: OPEC released the production counts for its member states today and while […]
Guyana Gov’t to Proceed with Energy MoU
(Stabroek News, 6.Sep.2018) — The signing of the Memorandum of Understanding (MoU) on Energy Sector Cooperation between the governments of Guyana and Trinidad and Tobago, paving the way for cooperation in oil and gas between the two states, will proceed as planned next week, despite a call by the city […]
An Iconic Legacy Petrotrin – Not Too Big To Fail
(Trinidad and Tobago Newsday, Melanie Waithe, 5.Sep.2018) — Petrotrin has been in operation for over 97 years, and now our legacy refinery as we know it, will close. Its transition is set to begin next month. The announcement was made on the eve of our 56th anniversary of independence and […]