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Crude oil production in Trinidad and Tobago has experienced a steady decline since its peak in the late 1970s, when the country produced almost 230,000 barrels of oil per day. There was a brief period of substantial increase from 2002 to 2006, but since then, production has fallen sharply from 143,000 barrels per day to just over 50,000 barrels per day in 2025 (average Jan-Mar).
Predator Oil & Gas (Predator) has completed the acquisition of Challenger Energy (CEG) Group's operations in Trinidad and Tobago. CEG’s operations in Trinidad include three onshore producing fields: Goudron, Inniss-Trinity, and Icacos. Across these fields, there are a total of 250 wells, of which approximately 60 are in production at any given time. Within the fields, regular well workover operations are undertaken on the existing production well stock, including well stimulation operations, reperforations, reactivations, and repairs to shut-in wells, as and when appropriate.
Energy-driven economies with small populations often bear the brunt of public criticism for CO2 emissions when people discuss emissions per capita. This metric masks the global contribution of emissions from major economies. When we look at CO2 emissions per capita, we see countries like Qatar, Bahrain, Kuwait, the UAE, Brunei, Trinidad and Tobago, Oman, Saudi Arabia, New Caledonia, and Gibraltar. Of these nations, only Saudi Arabia individually accounts for more than 1% of global CO2 emissions. Trinidad and Tobago, sixth on this list, only accounts for 0.08% of total global CO2 emissions.
United Oil & Gas (United) has announced that it has been granted the Beach licence in Jamaica. This licence enables United to undertake seabed sampling operations within the Walton Morant Basin, offshore Jamaica.
IRP Fire and Safety Ltd. (IRP) has announced its merger with ROSE Environmental Ltd., adding to several other consolidations in the industry this year.
Recently ExxonMobil released its annual Energy Outlook 2025 which projects a significant increase in global demand for natural gas over the next quarter-century. According to the outlook, natural gas use is expected to rise more than 20% by 2050 compared to last year's levels. The LNG market projected to double by 2050 as global gas demand grows.
In a previous article, the Energy Chamber examined employment data trends within the energy sector. This highlighted that, despite its critical role in driving economic activity, the sector employs only about 2% of the workforce.
The Energy Chamber of Trinidad and Tobago is saddened by the passing of the Honourable Lenny Saith. We extend our heartfelt condolences to his family, friends, colleagues, and all who knew and respected him.
Dr the Honourable Roodal Moonilal, Minister of Energy and Energy Industries, met with the Honourable Dickon Mitchell, Prime Minister of Grenada; Senator the Honourable Claudette Joseph, Attorney General of Grenada and Minister for Legal Affairs, Labour and Consumer Affairs; Mr Rodney George, Advisor, Ministry of Infrastructure, Public Utilities, Civil Aviation and Transportation, and Advisor in the Ministry of Climate Resilience, the Environment and Renewable Energy; and Mr V. Nazim Burke, Chairman of Grenada’s Hydrocarbons Technical Working Group, Ministry of Infrastructure, Public Utilities, Civil Aviation and Transportation.
The NGC Group has recorded a profit after tax of TT$1.6 billion for the financial year ended 31 December 2024.
This is a recovery for the NGC Group from a loss-making position at the end of 2023. Last year the company reported a loss of TT$1.3 billion, which was principally as a result of impairment charges of TT$1.8 billion. The 2024 profit represents an improvement of TT$2.9 billion from last year.
Earlier this year, the Energy Chamber released a map that showed the upstream activity taking place in the country. This was first released at the T&T Energy Conference in February 2025.
Over the last 6 months there have been some significant changes to this activity map, as projects have moved through the development cycle. Some projects have achieved a final investment decision and have moved into the full development stage, while some exploration projects have found commercial resources and are now in the stage of working towards a final investment decision. Last week the map was also significantly changed by the return of a major player, ExxonMobil, with an exploration block in the deepwater.
Renaissance Energy Limited announces the successful completion of its maiden drilling campaign in the Wilson Sands formation.
CSA Ocean Sciences Inc. (CSA), a global marine environmental consulting firm, and its Suriname subsidiary, CSA Suriname N.V., have been awarded several additional projects in Suriname, including multi-year contracts for major oil and gas operators in the region. CSA will mobilize vessels of opportunity to perform field operations in a range of water depths up to 3,000 msw and manage multiple Environmental and Social Impact Assessment (ESIA) programs offshore Suriname.
The North American onshore market is the most dynamic drilling rig market in the world, with rig rates (especially in the USA) quickly responding to changing market conditions. Despite President Trump’s mantra of “drill baby drill” the rig rate has actually fallen in 2025, driven by market fundamentals rather than rhetoric.
The Energy Chamber welcomes the signing of the production sharing contract (PSC) for the new TTUD-1 Block between ExxonMobil and the Government of Trinidad and Tobago.
ExxonMobil Guyana started production today at Yellowtail, the fourth oil development in Guyana’s offshore Stabroek block. Yellowtail’s ONE GUYANA floating production storage and offloading (FPSO) vessel joins the Destiny, Unity, and Prosperity FPSOs, bringing total installed capacity in Guyana to above 900,000 barrels of oil per day.
On World Steelpan Day, the Proman Foundation placed a spotlight on its flagship cultural partnership with the Proman Starlift Steel Orchestra, through the successful delivery of the 2025 Starlift Vacation Camp—a three-week programme designed to build music literacy, life skills, and national pride in young people.
bp plc announced a "fundamental reset" earlier this year, pivoting its strategy away from renewables and back toward fossil fuels after years of underperforming in the capital markets compared to its major peers such as Shell and Exxon. Early indications are that this new direction seems to be paying off in the capital markets, with Q2 results surpassing earnings expectations and share prices rising with the news and on the back of an extremely promising exploration successes in Brazil and Namibia.
The energy sector is the major contributor to national income, contributing on average 30-40% of gross domestic product (GDP). However, it only employs on average 2% of the national workforce or around 12,700 people.
Trinidad and Tobago's government has agreed to award U.S. oil major ExxonMobil acreage in an ultra-deep area that includes seven blocks to explore for oil and gas, two senior government officials told Reuters.
