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.
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.
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.
Prime Minister, Dr Keith Rowley has met with top executives from BP in Houston, in the first of a series of meetings with industry leaders in the energy sector.
Minister in the Office of the Attorney General and Legal Affairs and Minister in the Office of the Prime Minister, Stuart Young accompanied the Prime Minister, a statement by the Office of the Prime Minister says.