BP to invest up to US$8 billion in T&T

The arrival of the Angelin, bpTT’s 15th offshore platform in T&T, is part a ten-year development plan which will see the energy company investing up to US$8 billion in nine major projects.

Claire Fitzpatrick, who was appointed Regional President in February, unveiled some of the company’s plans during an open house session at bpTT’s corporate offices in Port-of-Spain yesterday.

She emphasised, however, the need for T&T to remain competitive within the BP Global portfolio for final successful decisions on investments.

PM meets with BP officials; BP to make an announcement Thursday afternoon

Prime Minister Dr Keith Rowley and the Minister Stuart Young have met with members of the BP executive team for an update on BP's proposed investment in T&T.

The BP team was led by Bernard Looney, BP Upstream Chief Executive Officer and included Andy Hopwood, BP Executive Vice-President, chief operating officer, strategy and regions, Upstream; Norman Christie, Regional President, BPTT and Giselle Thompson, Vice President Corporate Operations, BPTT.

The meeting took place at the Diplomatic Centre, La Fantasie St Ann’s. 

Business: BP posts first quarter profits of US$1.45 billion

British oil giant BP rebounded back into net profit in the first quarter, energised by deep cost-cutting and rising crude prices, the group revealed on Tuesday (May 2).

Earnings after taxation stood at US$1.45 billion (€1.33 billion) in the first three months of 2017, which contrasted with a net loss of US$583 million during the first quarter of 2016.

Benchmark oil contract Brent North Sea crude averaged US$54.61 in the first quarter, up 55 per cent year-on-year.

OPM: BP to invest US$5 billion in TT over next five years

The Office of the Prime Minister says BP will invest US $5 billion in Trinidad and Tobago over the next five years.
A statement by the Office of the Prime Minister says this was just one of the talking points at a high-level meeting yesterday between Prime Minister, Dr Keith Rowley and senior BP executives.
The Prime Minister and Minister in the Office of the Attorney General and Legal Affairs and Minister in the Office of the Prime Minister, Stuart Young are in Houston, Texas for a series of critical talks with leaders in the energy industry.