Over the past two weeks global news has been dominated by international trade and the impact of tariffs introduced (and then partially removed) by the United States of America. Businesses and government have been scrambling to understand the implications of the tariffs and how to respond. Imports into the USA from most countries in the world, including Trinidad & Tobago, are now subject to a new 10% tariff with some exceptions.

A key part of a national diversification strategy also includes the development of companies that are able to export services. In the energy sector many energy services companies have been successful in landing contracts regionally as the market for energy services opens up in Guyana and Suriname. The Energy Chamber has worked with its members to penetrate those regional markets and has also worked to open up other potential markets outside of the region. Back in 2011 the Energy Chamber led a trade mission to several nations in West Africa, including Ghana, Nigeria, Kenya, Rwanda, Tanzania and Uganda.

The chaos in global trading networks created by the United States’ tariffs and the trade war between the world’s two biggest economies has serious implications for Trinidad & Tobago.  The most immediate impact is through the sharp drop in oil prices, with benchmark Brent dropping from close to US$75 a barrel at the beginning to April to US$64 by the end of last week (check close today).  This drop was in response to both the economic uncertainty created by the tariffs and an OPEC decision to increase production.

Hundreds of Heritage Petroleum staff members rolled up their sleeves and got to work, refurbishing parks, restoring fishing facilities, and cleaning up beaches in key communities as part of the company’s annual Heritage Day of Volunteerism (DOV). The initiative, now in its sixth year, underscores Heritage’s deep-rooted commitment to giving back and fostering positive change in the areas where it operates.

TOSL Engineering Limited (TOSL), a leading integrated services company headquartered in Trinidad and Tobago, has announced its acquisition of ANSA Technologies Limited, a well-established provider of electrical, instrumentation, and automation solutions.

Yara Trinidad Ltd. and Trinidad Nitrogen Company Limited recently announced the successful commissioning of three (3) Solar Electric Vehicle (SEV) charging stations at their site. This initiative speaks to their commitment to reducing carbon emissions and advancing the use of sustainable energy solutions.

The southern Caribbean has gathered significant interest from the international energy industry over the past decade, driven in particular by the unprecedented exploration success and ramp up of production in Guyana.   In 2024, Guyana overtook Trinidad & Tobago in terms of hydrocarbon production on a barrels of oil equivalence basis.   

It is with deep sorrow that we learn of the passing of Mr. Mark Loquan ORTT, past member of the Board of the Energy Chamber of Trinidad & Tobago and a distinguished leader of the national and global energy industry. Mark’s career spanned over three decades in the energy and petrochemical industry, marked by leadership roles in several countries, including Trinidad and Tobago, the USA, Europe, Africa, and Australia and culminating in his role as President of the National Gas Company of Trinidad & Tobago from 2016 until 2024. His expertise and dedication to the energy sector were invaluable to both the companies he led and the industry as a whole.

In the previous edition we shared information on benchmark prices in three key natural gas markets internationally and some of the factors which impact the price of gas internationally and the potential for impacts in T&T.

Cypre is one of bp’s 10 major projects expected to start up worldwide between 2025 and 2027, announced as part of bp’s reset strategy to grow the upstream. Production from Cypre will make a significant contribution towards the 250,000 barrels of oil equivalent per day (boed) combined peak net production expected from these 10 projects.

Perenco has entered into an agreement with Woodside Energy to acquire its Greater Angostura producing oil and gas assets located in the northeast, shallow water offshore Trinidad, its onshore oil terminal and associated production and transportation facilities. Upon completion of a share sale, Perenco will assume control of two Woodside entities, their working interest and operatorship of the 2(C) and 3(A) Production Sharing Contracts.

This is the first installment of a two-part series examining natural gas prices. In this segment, we focus on the international pricing benchmarks for natural gas across three key markets: the Netherlands Title Transfer Facility (TTF), the U.S. Henry Hub, and the Japan/Korea Marker (JKM). These markets play a critical role in determining natural gas prices globally and are particularly relevant to Trinidad and Tobago (T&T).  In the past the price for LNG being exported from T&T was linked to Henry Hub prices, however the revised pricing formula for T&T LNG exports is now based on one third JKM, one third TTF and one third the Brent oil price benchmark.

The British High Commission and the Proman Foundation are pleased to announce the signing of a Memorandum of Understanding (MoU) to increase the number of prestigious Chevening Scholarship awards offered to Trinidad and Tobago nationals.

Rum and Sargassum Inc. presented their innovative solution for a low cost, sustainable transportation fuel source at the T&T Energy Conference 2025

In Trinidad and Tobago, we’ve often hear the statement “there are over 1 million cars on the road”. This refers to the number of registered cars in the country and does not take into account deregistration or inoperable vehicles. Over the last decade however, over 213,000 vehicles have been registered and yet fuel sales have declined.

Three years ago, the Energy Chamber established the Innovation and Technology Challenge,  a segment at its T&T Energy Conference which spotlights innovative projects, services or technologies which can expedite and improve the way things are done within the sector.  The Challenge attracts submissions from T&T and the region, and this year 17 submissions were received.  Of these, 5 finalists were selected by an expert panel of judges prior to the start of the conference, and each presented their projects to delegates attending the event.