Performance management as a lever for culture transformation

Performance management as a lever for culture transformation

Performance management (PM) can be a leverage point for change in Trinidad and Tobago as there is a gap between productivity and reward at the national level, which culturally and systemically infiltrates private firms and the public sector. The WEF (2017) reports ‘poor work ethic in national labour force’ as the most problematic factor for doing business in Trinidad and Tobago. Given this context, this article will explore how effective performance management systems can be used by organisations to close this gap. 

CARICHAM Advocates for Public-Private Partnerships to Improve Resilience in the Caribbean

CARICHAM Advocates for Public-Private Partnerships to Improve Resilience in the Caribbean

The Network of Caribbean Chambers of Commerce (CARICHAM) was represented by Mr. Faron Lawrence, President of the St. Kitts and Nevis Chamber of Industry of Commerce (SKNCIC) and Mr. Stephen Lander, Vice President of the Dominica Association of Industry and Commerce (DAIC), at the ‘Understanding Risk Management and Risk Financing for Disaster Resilience’ Training of Trainers. This training was held in Singapore from June 18th to 21st, 2019.

Learning 'to take the barriers out'

Learning 'to take the barriers out'

Sitting on a panel discussing technology and leadership in the energy sector at the 2019 Trinidad & Tobago Energy Conference, Claire Fitzpatrick, BPTT’s Regional President, was asked her opinion on the most important leadership quality. She stunned and delighted the packed audience with her response: ‘a little bit of humility’. Claire explained that the big changes that she saw confronting BPTT and the industry meant that she needed to be ‘a lot more humble and actually listen to the organisation … [as] some of the best ideas and best people to implement … are at early stages of their career’. She told the conference that she saw the role as leader as being the person ‘to take the barriers out’ rather than being the person to ‘tell you exactly how it will be done’. 

Value and volume of business for energy services companies remain below normal

Value and volume of business for energy services companies remain below normal

Fifty per cent of energy services companies polled indicated that the value of their business was down in the second quarter of 2019. When asked for reasons that their value of business was down, all respondents indicated that it was due to a decrease in demand for their services. Other major reasons cited were less business opportunities and loss of contracts/projects. Fifty per cent of respondents also indicated that the volume of their business was down in the second quarter of 2019. Respondents indicated that this was due to a decrease in demand for their services and less business opportunities. 

Renewable energy in CARICOM

Renewable energy in CARICOM

Renewable energy in the Caribbean is rapidly growing and most of the islands in the Caribbean Community (CARICOM) have been eagerly and ambitiously moving towards a more sustainable energy mix. With the exception of Trinidad and Tobago, islands in the region do not have a predominant oil and gas sector that can provide fuel for electricity generation. For most islands, this means that they have to import diesel and other fuels to produce power. 

CNG sales experience 136% increase over 15 months

CNG sales experience 136% increase over 15 months

Compressed natural gas (CNG) is clearly expanding by any metric. At a recently concluded CNG Symposium and Open House organised by the NGC CNG, Curtis Mohammed, President of CNG NGC, provided an update on the CNG initiative. During the update, Mohammed provided some key statistics showing the uptake for CNG from 2014 to present. 

Venezuelan nationals working in the downstream energy sector

Venezuelan nationals working in the downstream energy sector

Within recent times, the Venezuelan migrant crisis has dominated the international and local media. Over the past year in particular, there have been waves of arrivals of Venezuelans into Trinidad, driven in large part by the collapse of the economy and deteriorating living conditions. Many of them have sought employment in different areas of both Trinidad and Tobago. Given Venezuela’s global reputation as a major player in the oil and gas industry, there has been concern in some quarters about Venezuelans coming to work in the energy industry, particularly the petrochemical sector and displacing locals. 

Late payments persist and continue to take a toll on contractors

Late payments persist and continue to take a toll on contractors

In a recent survey undertaken by the Energy Chamber of Trinidad and Tobago (Energy Chamber), it was revealed that late payments for work completed continues to occur. The respondents were all energy services companies that are currently engaged in work in the sector. Over 94 per cent of respondents reported that they have significant or very significant financial impacts due to late payments. In addition, almost 70 per cent of companies have reported that the situation has been getting worse over the last three years.

Diversification through energy service exports

Diversification through energy service exports

Every time that there are concerns expressed about the future of the oil, gas and petrochemical sectors in Trinidad and Tobago, there are responding calls for the diversification of the economy. These calls are understandable and appropriate, and fully supported by the Energy Chamber of Trinidad and Tobago (Energy Chamber). The Energy Chamber views economic diversification as a fundamental issue for our economy and especially the diversification of our exports. As a small open economy, Trinidad and Tobago needs to earn foreign exchange in order to survive and we can no longer rely upon exporting just a handful of energy related commodities. 

Atlantic: coping with an uncertain future

Atlantic: coping with an uncertain future

With its recent 20th anniversary celebrations now in the proverbial rear-view mirror, liquefied natural gas (LNG) production company, Atlantic, is peering into the journey ahead and exploring how it will continue to navigate a very competitive global business. 

The demand for energy is growing significantly across the globe and resulting in global warming. We need a cleaner energy system if we are to meet this growing demand and tackle climate change.

The demand for energy is growing significantly across the globe and resulting in global warming. We need a cleaner energy system if we are to meet this growing demand and tackle climate change.

Today's energy system is largely tied to fossil fuels that when used release greenhouse gases like carbon dioxide and methane into the atmosphere. The demand for energy is growing significantly across the globe and resulting in global warming. We need a cleaner energy system if we are to meet this growing demand and tackle climate change.