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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?
Caribbean Gas Chemical Ltd (CGCL), the company charged with the development of the new Methanol and Dimethyl Ether plant in Union Estate, La Brea, has partnered with the Energy Chamber to deliver PLEA training programmes and STOW awareness sessions for the La Brea community.
The introduction of new government players and policy actors into the energy sector usually requires a period of relationship building for the main energy companies.
At the Launch of the 2015 World Economic Forum’s Global Competitiveness Report on October 1st , 2015 Minister of Planning, Camille Robinson-Regis, noted Trinidad and Tobago’s ranking at position 89 out of 144 countries, for the second consecutive year.
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 Caribbean energy sector is ripe for change – its long-standing dependence on fossil fuels has ensured that citizens pay some of the highest energy rates in the world.
One of the long-standing and key strategic objectives of the Energy Chamber has been to maximise local content in the Trinidad and Tobago energy sector.
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.
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.
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.
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.
Marine pilots play a crucial but often unrecognised role in Trinidad and Tobago’s energy sector, safely manoeuvring a wide range of different vessels, from LNG tankers to drilling rigs, into position at all of Trinidad’s ports.
Anthony Vieira is the managing director of Hummingbird Helicopter Services Limited (HHSL). His company which was officially registered in 2002, is one of the best examples of a homegrown energy services company that has evolved in Trinidad and Tobago. HHSL is a provider of safety and survival training.
The government of Trinidad & Tobago has for the first time set a specific target for renewable energy – 10% of power generation from renewables by 2021.
There is a market for at least 3.5 million tonnes a year (mmty) of liquefied natural gas (LNG) in the Caribbean, one of the last regions in the world to be thinking of switching out of heavy fuel oil/diesel and into natural gas for power generation.
The Rowan Joe Douglas jack-up rig has commenced its drilling campaign for Angostura Phase 3, with BHP Billiton reporting that the project is progressing on schedule.
EnergyNow caught up with some of the leaders of key Point Lisas plants to find out how these shortfalls have impacted on their operations.
Vincent Pereira outlines his vision for local content at the Energy Chamber's 3rd annual Local Content Forum
Trinity Exploration and Production's aborted attempt to buy over blocks 1a and 1b in the northern Gulf of Paria from Centrica Energy means it is unlikely that the gas reserves there will be developed in the near future.
Canada's Touchstone Exploration has “taken in front” in its bold purchase of Trinity Exploration and Production's land-based oil-producing assets.
