On 13 November 2025, Dr. the Honourable Roodal Moonilal, Minister of Energy and Energy Industries, the Honourable Ernesto Kesar, Minister in the Ministry of Energy and Energy Industries along with Karinsa Tulsie, Permanent Secretary (Ag.) Ministry of Energy and Energy Industries and Marc Rudder Deputy Permanent Secretary (Ag.) at the Ministry of Energy and Energy Industries, met with executives from China National Offshore Oil Corporation Limited (CNOOC), at the Ministry of Energy and Energy Industries’ International Waterfront Complex, Head Office, Port-of-Spain.
The international maritime sector is a vital engine for global trade, yet it is responsible for approximately 3% of global greenhouse gas (GHG) emissions, particularly CO2. This volume is significant, exceeding, for example, three times the total annual emissions of Trinidad and Tobago. The essential movement of goods via sea comes with a heavy carbon footprint that contributes directly to climate change.
South America is positioned to be a major driver of non-OPEC+ oil supply through 2030, a role anchored significantly by the emerging offshore production from Guyana and Suriname. According to Rystad Energy, barrels originating from these countries, alongside Brazil’s offshore fields and Argentina’s Vaca Muerta shale, are highly cost-competitive and ready to balance the global market, even as US shale growth moderates.
On 5th November 2025, Dr the Honourable Roodal Moonilal Minister of Energy and Energy Industries, the Honourable Ernesto Kesar Minister in the Ministry of Energy and Energy Industries and Ms. Ayasha Nickie, Director Downstream Petroleum Management Division at the Ministry of Energy and Energy Industries, met with Yara Trinidad and TRINGEN (Trinidad Nitrogen Company Limited) executives and toured the Yara TRINGEN Complex located at Savonetta, Point Lisas, Trinidad and Tobago.
PETRONAS and consortium partners Chevron Suriname Exploration Limited (Chevron), and QatarEnergy International E&P LLC (QatarEnergy) have signed Production Sharing Contracts (PSCs) for Blocks 9 and 10, located in the shallow offshore region of Suriname.
While the nation’s petrochemical sector has long been synonymous with the production of ammonia, methanol, and Liquefied Natural Gas (LNG), Trinidad and Tobago (T&T) maintains a crucial role in exporting several other key commodities that generate vital foreign exchange.
Rolls-Royce has successfully tested the world’s first high-speed marine engine powered exclusively by methanol on its test bench in Friedrichshafen. Together with their partners in the meOHmare research project, Rolls-Royce engineers have thus reached an important milestone on the road to climate-neutral and environmentally friendly propulsion solutions for shipping.
Philip Mshelbila, Managing Director of Nigeria LNG Limited, has been elected Secretary General of the Gas Exporting Countries Forum (GECF). Mshelbila assumes the position from outgoing Secretary General Mohamed Hamel, who led the organization through a period of significant growth and development.
Trinidad Offshore Fabricators Company Limited (TOFCO) has announced the successful float-off of the Manatee Jacket – Row C which occurred on October 1st, marking a major milestone in the execution of this offshore project.
Trinidad and Tobago (T&T) is a major global player in the ammonia market, being one of the largest exporters of the commodity worldwide. In 2024, the country's eleven facilities, operated by four producers Proman, Nutrien, Yara, and Pt Lisas Nitrogen (PLNL) produced just over 4 million metric tons of ammonia. Proman is the largest producer, accounting for 38% of the nation's output, followed by Nutrien at 31%, Yara at 19%, and PLNL at 11%.
In response to recent developments regarding Venezuela’s suspension of energy sector agreements with Trinidad and Tobago, the Energy Chamber is calling for a renewed national focus on securing and expanding domestic natural gas supplies to safeguard the country’s economic, energy and national security.
The Energy Chamber hosted its Post AGM Event: Building Guyana - T&T Private Sector Collaboration on October 24th 2025. The event featured a keynote address by Kathy Smith, President of the Georgetown Chamber of Commerce and Industry (GCCI) which was followed by a panel discussion with leaders from several energy services companies in T&T. The discussions focused on opportunities for collaboration and the removal of non-tariff barriers and alleviating port congestion issues.
DOF Group has secured contract extensions that will keep two subsea vessels at work in Guyana.
Over the past few weeks, we have highlighted the energy sector's contribution to the economy of Trinidad and Tobago (T&T). A vital area of this sector is the energy services subsector, which consists of the many local and foreign contractors that execute projects for the country's major operators.
The Energy Chamber of Trinidad and Tobago notes Nutrien’s announcement of a controlled shut-down of its operations at Point Lisas. Nutrien is a major investor and exporter of ammonia, and its presence is vital to the strength of our downstream energy sector.
The University of the West Indies has partnered with with Japanese company Niterra Co Ltd. and local company Kenesjay Green under the H2TT Transform Project to develop a green hydrogen center of excellence at UWI.
The global supply chain for oil and gas project procurement is entering a period of contrast, with significant easing expected in some areas—like drilling and vessels—while other critical segments, notably subsea equipment and gas-related infrastructure, remain severely constrained. Analysts anticipate a general improvement in the procurement of critical infrastructure and equipment starting in 2026, a shift largely driven by a temporary slowdown in overall project activity.
The energy sector is the major contributor to the government’s taxation revenue stream. Over time, the energy sector’s contribution as a percentage of the total has been falling due to declining production and volatility in international pricing. Nevertheless, the sector is the highest taxed sector in the T&T economy. In fact, operations of upstream companies result in over 30 different taxes, levies, and fees. The ones that are unique to the sector are the Petroleum Profit Tax (PPT), Supplemental Petroleum Tax (SPT), and Royalties. Companies engaged in upstream operations in Trinidad and Tobago (T&T) are subject to a special fiscal regime, principally governed by the Petroleum Taxes Act (PTA).
Staatsolie has announced that Chevron Suriname Exploration Limited will begin drilling this month on the exploration well, named Korikori-1. This well is located approximately 78 kilometers offshore, in the northern part of Block 5, at a water depth of approximately 40 meters. Block 5 is operated by Chevron (40%) in partnership with Paradise Oil Company (40%) and Qatar Energy (20%).
The Attorney General of Trinidad and Tobago, John Jeremie, has announced that the Department of the Treasury of the U.S. has granted the OFAC license to pursue the exploration of the Dragon gas field in Venezuela.
