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Opinion

Economic outlook for Trinidad and Tobago

Economic outlook for Trinidad and Tobago

In addition to the real and perceived negative socio-economic effects of low oil and gas prices and record low production levels, in Trinidad and Tobago (where God is alleged to have been born/naturalised), weak macroeconomic statistics have given rise to public disagreement on whether the economy is in a recession.

Philanthropy in times of recession

Philanthropy in times of recession

Since the announcement in early December by the Governor of the Central Bank that Trinidad and Tobago has experienced its fourth consecutive quarter of negative economic growth, the “R” word is becoming more commonplace in conversations – recession.

60th Anniversary year: a challenging time for the Energy Chamber

60th Anniversary year: a challenging time for the Energy Chamber

The 60th anniversary year for the Energy Chamber of Trinidad & Tobago is coinciding with what is likely to be a very challenging year for the global energy sector and the Trinidad & Tobago economy, primarily due to the very low commodity prices. 

Job losses in the energy sector

Job losses in the energy sector

Two days before Christmas a front-page headline in the Business Express claimed that there had been 2,800 “oil job cuts and counting”.  The article, by Aleem Khan, went on to explain that jobs in the oil and gas sector declined from 21,700 at the beginning of 2015 to 18,500 by mid-year – a 15% drop.  This sounds extremely alarming and the journalist paints a picture of a crisis in employment brought about by the low price environment.  But is this really what the data is telling us?  

Some initiatives to address declining oil production in TT

Some initiatives to address declining oil production in TT

Crude oil production (i.e. non-condensate production) in Trinidad declined from a peak of 229,527 barrels of oil per day in 1972 to an average of 66,784 barrels of oil per day in 2014. Based on a projection of this historical decline, crude oil production in 2020 and 2030 will be in the order of 50,000 barrels of oil per day and 20,000 barrels of oil per day, respectively. 

The collapse of the Commodity Super-Cycle and its Implications for TT

The collapse of the Commodity Super-Cycle and its Implications for TT

The commodities super-cycle as used here refers to the general pattern in commodity prices in terms of ebbs and flows over time. This cyclical trend in commodity prices has been observed by economists for some time now and certainly since the midnineteenth century.

What does the TTEITI disclosure of social expenditure tell us?

What does the TTEITI disclosure of social expenditure tell us?

ON September 30th 2015, the Trinidad and Tobago Extractive Industries Transparency Initiative (TTEITI) published its third TTEITI Report covering the period October 1st 2012 – September 30th 2013. This report provides an independent reconciliation of payments made to the government by energy companies with the revenues reported by Government as having been received from these energy companies.

Guidance on Joint Operating Agreements 1.0

Guidance on Joint Operating Agreements 1.0

TRINIDAD and Tobago has a long history of oil and gas production and as a result, there are Joint Operating Agreements (‘JOAs’) dating back to the 1990s that are still governing arrangements between parties to production sharing contracts and licences.

Data-driven policy making

Data-driven policy making

EVER since the Trindad and Tobago Election and Boundaries Commission (EBC) released its figures on the number of registered voters prior to the September 2015 general election, I have noticed that lots of people have been questioning the country’s official population figures.