T&T imports 31 percent more oil than last year, mostly from Russia

Monday, November 7, 2016 - 13:00

Trinidad and Tobago is now importing more oil as domestic production has fallen and most of the imports are coming from Russia.

Latest figures show crude imports reaching 102,703 barrels/day in the first nine months of 2016, a 31 percent increase over the similar period of 2015.

The bulk of the imports was crude oil from Russia, accounting for close to 50,000 barrels/day.

Colombian Vasconia grade had previously accounted for the highest imports but none was imported in 2016.

The crude oil imports are to complement domestic production to supply the 168,000 b/d Pointe-a-Pierre refinery owned by state-run Petrotrin.

Data shows that from January to September, Trinidad and Tobago produced 71,234 barrels/days which was 10.7 percent less than in 2015.

Trinidad and Tobago exported 26,555 barrels/day of domestic crude, mainly Galeota Mix, between January and September, which is 17.8 percent less than the corresponding 2015 period.

Data also shows a parallel decline in domestic gas production.

FOR MORE TOP STORIES: http://www.cnc3.co.tt/latest-news