All stories
The Minister of Energy and Energy Industries, Dr. the Honourable Roodal Moonilal, alongside Minister in the Ministry, the Honourable Ernesto Kesar, and other senior Ministry officials, recently met with representatives from Chevron Corporation. Executives from Heritage Petroleum Company Limited, Paria Fuel Trading Limited, and Guaracara Refining Company Limited were also in attendance.
The International Energy Agency’s Global Energy Review 2026 offers a broad snapshot of how the world’s energy system evolved in 2025, and its central message is that demand continued to rise across all major fuels and technologies, though at very different rates. Overall global energy demand increased by 1.3% in 2025, slower than the 2% growth recorded in 2024, as slightly weaker economic expansion, lower cooling demand and faster improvements in energy intensity helped moderate the pace of growth.
ExxonMobil is using artificial intelligence and high-performance computing to accelerate the analysis of seismic data from Guyana’s offshore oil fields, a development that could further strengthen the country’s position as one of the world’s fastest-growing oil producers.
The production of Angostura bitters, one of the world’s most recognised cocktail ingredients, is now powered by solar energy. According to Angostura, the solar photovoltaic system with 432 panels, installed on the roof of the bitters bottling plant, supplies clean, renewable energy to support daily production operations. The system is complemented by a 344-kilowatt Battery Energy Storage System, ensuring efficient energy storage and utilisation across the facility.
ExxonMobil is moving ahead with plans for Guyana’s ninth offshore oil and gas development, with the Haimara discovery expected to anchor the next major project in the Stabroek Block. The company is preparing to submit an environmental application to the Government of Guyana later this month, as it continues to accelerate development across one of the world’s most active offshore petroleum basins.
The TA’ZIZ Methanol Company, a joint venture between TA’ZIZ and Proman, announced today that it has achieved financial close on $2 billion in financing for the UAE’s first world‑scale methanol plant in Al Ruwais Industrial City. The transaction was significantly oversubscribed, underscoring strong global confidence in TA’ZIZ’s strategy and the long-term fundamentals of Abu Dhabi’s industrial growth platform.
The Energy Chamber of Trinidad and Tobago and the Georgetown Chamber of Commerce and Industry (GCCI) have officially entered into a strategic Memorandum of Understanding (MOU), marking a significant milestone in the deepening of bilateral private-sector relations between the two nations. The signing ceremony took place on the sidelines of the 2026 Offshore Technology Conference (OTC) in Houston, Texas.
Valaris, a major offshore drilling contractor, has officially set up an office in Port of Spain, Trinidad. The company operates the world’s largest offshore drilling fleet, working across six continents in nearly every major offshore basin.
Guyana’s President Dr. Mohamed Irfaan Ali has said current levels of global energy investment are not enough to meet rising demand, as he called for a more balanced approach to energy security and the energy transition.
Trinidad and Tobago could be positioned to play a central role in the monetisation of new gas resources from Venezuela, following BP’s recent memorandum of understanding with the Venezuelan government for the exploration of natural gas in the Loran offshore area.
St. Kitts and Nevis has launched a competitive tender for a major solar and battery energy storage project, marking an important step in the Federation’s efforts to reduce reliance on imported fuel and strengthen energy security.
Italian energy company Eni has signed a programmatic agreement with Venezuela’s Ministry of Hydrocarbons and state-owned Petróleos de Venezuela S.A. (PDVSA) to relaunch oil activities at the Junín-5 project in the Orinoco Belt, marking another step in Venezuela’s renewed push to rebuild its hydrocarbons sector.
ExxonMobil Guyana has secured the Noble Developer semi-submersible rig for a one-well contract in the Stabroek Block, marking a strategic expansion into shallow-water exploration. The agreement, set to commence in early 2027 at a day rate of $375,000, targets a prospect that the operator noted cannot be serviced by its existing deepwater fleet. While the specific prospect remains unnamed and the targeted hydrocarbon type unspecified, the deployment underscores a diversification of drilling activity within the prolific offshore block.
The National Gas Company of Trinidad and Tobago (NGC) has signed a new gas supply agreement with EOG Resources Trinidad, concluding negotiations eight months ahead of schedule, the state-owned company announced on Friday.
Energy services firm Wood and startup Eclipse Energy have signed a preliminary agreement to commercialize a technology that converts depleted oil fields into hydrogen production hubs. The partnership aims to scale "subsurface hydrogen," a process that uses microbiology and existing oilfield infrastructure to generate fuel at a lower cost than traditional greenfield projects. The move comes as the energy industry faces mounting pressure to find economically viable ways to produce low-carbon hydrogen.
Venezuela and BP have formalized a strategic agreement to develop the Cocuina-Manakin gas field, a cross-border offshore deposit that marks the company’s significant return to the country. The partnership, announced by Acting President Delcy Rodríguez, aims to leverage advanced technical expertise to tap into the country’s vast gaseous hydrocarbon reserves on the Deltana Platform, a move expected to bolster Venezuelan energy independence while positioning the country as a more assertive player in the regional energy market.
Shell plc has entered into an agreement to acquire Canadian energy company ARC Resources Ltd., in a transaction that will strengthen Shell’s natural gas and liquids position in Western Canada.
A C-suite executive recently shared this with me, and it reflects a frustration felt by senior managers not only across Trinidad and Tobago, but around the world.
bp has agreed to acquire a 60% interest in three offshore exploration blocks in Namibia from Eco Atlantic Oil & Gas as part of bp’s strategy to grow its upstream portfolio.
Spanish energy company Repsol has signed an agreement with the Venezuelan Ministry of Hydrocarbons and state-owned Petróleos de Venezuela, S.A. (PDVSA) that could allow the company to increase oil production from its Venezuelan operations over the next three years.
