The Energy Chamber of Trinidad and Tobago and the Suriname Energy Chamber have signed a Memorandum of Understanding (MOU) on the sidelines of the Suriname Energy, Oil and Gas Summit (SEOGS) 2026. This signing represents a significant step forward in private-sector collaboration between the two nations.

Guyana is developing a dedicated emergency response contingency plan for its gas-to-energy project as the country prepares to bring one of its largest energy infrastructure investments into operation. 

National Enterprises Limited (NEL) reported net profit of TT$237 million for the six months ended March 31, 2026, as gains across its investment portfolio contributed to improved financial performance during the period. 

The IMF’s 2026 Article IV report presents Trinidad and Tobago’s energy sector as one of the main factors shaping the country’s economic outlook. While the wider economy continues to recover, the report makes clear that weak production from mature oil and gas fields is still weighing on growth. 

Spanish energy company Repsol and Venezuela’s state-owned oil company PDVSA have signed a new agreement aimed at increasing crude oil and natural gas production in northwestern Venezuela, as the country continues efforts to rebuild output and attract investment into its energy sector.

Phoenix Park Gas Processors Limited (PPGPL) and GuyGas Inc. have been identified as the preferred bidders for the operation and maintenance of the Natural Gas Liquids (NGL) plant being developed at Wales as part of Guyana’s Gas-to-Energy project, according to a statement from the Office of the Prime Minister of Guyana

Egypt and the European Union have announced a €690 million clean-energy grid investment aimed at strengthening Egypt’s electricity transmission system and supporting the integration of more renewable energy into the national grid.

ExxonMobil has applied for environmental authorisation for a new 35-well exploration programme in Guyana’s Stabroek Block, signalling that exploration in the country’s main offshore oil province could continue well into the next decade.

Shell reported encountering hydrocarbons at its Merlin-1X exploration well offshore Namibia in the Orange Basin.

The company completed drilling operations at the Merlin-1X well as part of its broader exploration campaign in the basin. The Orange Basin has attracted increasing industry interest in recent years following a series of offshore discoveries.

Colombia is moving ahead with a new renewable energy auction aimed at securing long-term electricity supply while strengthening the resilience of its power system. The auction, expected to be held later this year, will seek bids from solar, wind and energy storage projects, marking the first time battery storage systems will be included alongside renewable generation technologies. 

Petrobras has acquired a 50% stake in the Itaimbezinho exploration block from Equinor, expanding its position in Brazil’s offshore sector and adding another prospect to its exploration portfolio.

The Government’s 2026 Mid-Year Budget Review, presented by the Minister of Finance, the Hon. Davendranath Tancoo, highlights both the benefits and challenges arising from the current global energy market. While higher oil prices have provided a welcome boost to government revenues, the review underscores Trinidad and Tobago’s continued exposure to costly fuel imports, substantial subsidy expenditures, and the urgent need to increase domestic energy production.

Diesel prices across CARICOM vary significantly, reflecting differences in national fuel pricing frameworks, tax structures, subsidy policies, import costs and domestic market conditions.

EXMAR has announced the historic delivery of MGC ANTWERPEN, the first oceangoing vessel powered by a dual-fuel ammonia engine.​

 The International Renewable Energy Agency (IRENA) has endorsed a proposal being advanced ahead of COP31 to increase the role of electricity in the global energy system. 

OPEC has lowered its forecast for global oil demand growth in 2026, citing the impact of the Iran conflict and its effect on fuel prices, supply flows and economic activity. 

Reuters has reported that Venezuela recently signed five agreements with Shell to advance oil and gas projects, including the Loran offshore gas field. Loran is a 7-trillion-cubic-foot offshore gas field on the Venezuelan side of the maritime border with Trinidad and Tobago. Shell is currently developing the T&T side of the field with the Manatee project.

The Energy Chamber of Trinidad and Tobago has expressed support for the recently released Financial Bill 2026, which introduces important measures to incentivize the upstream gas sector. Notably, the Bill proposes a reduced royalty rate of 8% on natural gas extracted from certified marginal marine gas fields. This is a decrease from the general royalty rate of 12.5% which is currently applied under the existing Petroleum Regulations.

Barbados has officially opened a new offshore licensing drive, inviting international energy companies to bid on 19 ultra-deepwater blocks. The launch of the 2026 Offshore Petroleum Direct Negotiations creates a three-month window for proposals to explore for oil and natural gas in the island’s waters. Acting Prime Minister and Minister of Energy, Business Development and Commerce, Kerrie Symmonds announced that the pre-qualification period will run until September 1.

UK-headquartered energy major BP and its U.S.-based partner ExxonMobil have reached a final investment decision (FID) to enhance production at the Thunder Horse offshore platform in the U.S. Gulf through a new subsea pump development.