The Office of the Prime Minister announced the signing of a MOU between the government of Trinidad and Tobago and Barbados. The signing took place on Saturday 24th August, 2019 in Barbados.
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The Energy Chamber of Trinidad & Tobago is relieved to learn that the “contempt of court” case against the Trinidad & Tobago Chamber of Industry and Commerce, Gabrielle Faria, Frank Mouttet and Derek Ali has been dropped by the Industrial Court.
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The Ministry of Energy and Energy Resources recently announced the finalization of negotiations between the Government and Shell Trinidad and Tobago Limited on gas related issues.
Senator the Honourable Franklin Khan, the Minister of Energy and Energy Industries met with Mr. Tatsuo Hirayama the Japanese Ambassador Extraordinary and Plenipotentiary to Trinidad and Tobago at the Ministry’s Office on August 7, 2019. Also in attendance at the meeting was the Permanent Secretary is the Ministry of Energy and Energy Industries – Ms. Azizah Baksh-Backredee and other Senior Technical Officers.
The Board and Executive Office of the Energy Chamber is very saddened at the sudden passing of Dennis Patrick, CEO of Methanol Holdings Trinidad Limited (MHTL). Mr. Patrick was an active member and supporter of the Energy Chamber in his capacity as CEO of MHTL and was a presenter at our TTEC 2019 in February at Hyatt Regency. He will be remembered as a well-respected leader in the energy sector. We extend sincere condolences to his family and the MHTL and the Proman Group on Mr. Patrick’s untimely passing. May he rest in peace.
Touchstone spudded the Coho-1 exploration well on the Ortoire exploration block on August 7, 2019 using Well Services rig #80. The Coho-1 well is targeting gas prospects in the Herrera formation at depths between 5,200 and 8,500 feet.
BHP has indicated that it has approved US$283 million (BHP share) in funding to develop the Ruby Project in Trinidad and Tobago.
Recently, it was reported that Qatar Petroleum has farmed into two blocks offshore Guyana (Orinduik & Kanuku blocks). It was stated that the Qatari oil company takes 40% of Total’s stakes in the blocks – which means that the company now owns 10% in each block.
Credit rating agency Moody’s has announced that the National Gas Company of T&T will maintain a Ba1 rating for 2018.
BPTT’s Cassia Compression development will access 1 TCF of resources, according to Regional President Claire Fitzpatrick.
BHP has indicated that Phase 3 of the deepwater drilling campaign in Trinidad and Tobago has been completed.
The Cassia Compression project will enable BPTT to access and produce low pressure gas reserves from currently-producing fields in the Greater Cassia Area, maximizing recovery from these existing resources.
Heritage Petroleum Company Limited announced that it spud (started drilling) its first oil well on Saturday June 15, 2019.
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.
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.
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.
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.
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.
On Thursday 9th May, 2019, Mr. Derek Hudson, Vice President and Country Chair of Shell Trinidad and Tobago Limited, signed the Safe to Work (STOW) Charter, demonstrating the Company’s commitment to the objectives of STOW. Also present at the signing which took place at the Energy Chamber of Trinidad and Tobago’s Executive Office were Dr. Thackwray Driver, President & CEO of the Energy Chamber of Trinidad and Tobago; Mr. Fitzroy Harewood, Chairman of the STOW Implementation Board and President of Pt. Lisas Nitrogen Limited and Mr. Eugene Okpere, Chief Operating Officer of Shell Trinidad and Tobago Limited.