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Investments in solar and wind energy projects by the world’s oil majors until 2025 are expected to exceed $18 billion, a Rystad Energy analysis finds. But a closer look at the numbers reveals that some $10 billion, or 55% of the amount, is expected to be invested by a single company, Equinor, the only operator poised to direct a majority of its greenfield capex towards renewable energy projects.
bpTT and the Rose Foundation have impacted just over 700 families through food banks organized throughout the country.
Touchstone Exploration Ltd. has entered into escrow arrangements for a US$20 million, seven-year term loan agreement with Republic Bank Limited, as initial lender, arranger and administrative agent. The Term Loan was arranged exclusively by the Corporate and Investment Banking Division of Republic Bank.
The Bahamas Petroleum Company (BPC) has announced that it has entered into a definitive contract with Stena Drilling for provision of a drilling rig as soon as Q4 2020.
According to a release from the company, “Over the last couple of months, the Proman family of companies has established partnerships with the Ministry of Health, local vegetable produce farmers, supermarkets and relief agencies as part of a package of measures to support nationwide COVID-19 relief efforts. “
Methanol Holdings Trinidad Limited (MHTL) has idled its M2 methanol plant in Trinidad (temporarily).
Petronas Suriname Exploration & Production B.V. (PSEPBV), has completed the farm-down of 50 per cent of its participating interest to ExxonMobil Exploration and Production Suriname B.V. (ExxonMobil) from a 100 per cent participating interest in Block 52, offshore Suriname.
Aquaterra Energy has been awarded the Front End Engineering and Design (FEED) contract by DeNovo Energy for the Zandolie field located off of the west coast of Trinidad and Tobago.
Shell Trinidad and Tobago has contributed $3.6 million (TT) in medical and relief supplies to Trinidad and Tobago, as part of our continued commitment to support the country efforts to curb the spread of Covid-19 (Novel Coronavirus).
Presenting at the Trinidad and Tobago Energy Conference, Anita Gajadhar, Managing Director, Proman Shipping, provided an overview of the role methanol plays in the energy transition and the future of methanol in Trinidad and Tobago.
Globally, the demand for energy and energy-related products has been collapsing due to the measures introduced to slow the spread of the coronavirus. The effects have also manifested in the liquefied natural gas (LNG) market. Amid plunging gas demand, LNG producers are under pressure to dump their cargoes on the spot market, further depressing already low prices.
In recent weeks, there has been sharpened focus on the price of oil. The price of oil has collapsed dramatically due to the Russia-Saudi Arabia price war and then further exacerbated by weak demand brought about by the novel coronavirus.
During the Trinidad and Tobago Energy Conference, there was a very stimulating conversation about local content. The perspectives that were explored ranged from global to local. One perspective that was very pertinent was the Guyana perspective which was highlighted by Nicholas Deygoo Boyer, President of the Georgetown Chamber of Commerce and Industry (Georgetown Chamber).
BPTT’s Matapal and Cassia C projects are on track, according to Project General Manager, Michael Daniel.
How do we build skills for the new energy sector and the energy transition? According to Aneesh Chopra it needs handshakes and handoffs. As the keynote speaker at the Trinidad and Tobago Energy Conference 2020, Chopra gave some stellar advice to stakeholders on how to prepare for what’s next in the energy sector.
In 2005, the U.S. outlook for energy was vastly different from what it is now according to Shawn Bennett, Deputy Assistant Secretary for Oil and Natural Gas, Department of Energy (DOE), United States of America. Bennett was speaking at the 2020 Trinidad and Tobago Energy Conference.
April 2020 saw unprecedented movement of oil prices, with the benchmark US WTI futures price in particular entering uncharted territory when it went into negative territory on the eve of the close of the May delivery contracts. The unprecedented collapse in oil prices was caused primarily by a huge drop in demand for petroleum products, with the implementation of lock-down measures across major markets and the collapse of global air travel. The brief oil price war, primarily between Saudi Arabia and Russia, launched in March 2020 and brought to an end in April 2020, exacerbated this situation.
Nutrien has announced the temporary shut down of one of its facilities in Pt Lisas Trinidad for a period of 3 months.
