Business

PM flies out this weekend for energy meetings

Prime Minister Dr Keith Rowley will leave the country this Sunday for a series of meetings with energy companies that operate in Trinidad and Tobago.

The prime minister told today's post-Cabinet news conference that he will lead a government delegation for meetings that will take him out of the country for 10 days.

He will first go to Holland where he will meet with officials of Shell.

From Holland, the PM and team will journey to London for meetings with Bp officials.

He will also meet with nationals of Trinidad and Tobago in London.

PM instructs that Petrotrin release documents in Malcolm Jones matter

Prime Minister Dr Keith Rowley has given instructions for Petrotin to release documents requested under the Freedom of Information Act, that became the subject of a ruling by the Privy Council this week.

Dr Rowley addressed Thursday's post-Cabinet media conference, telling reporters that he has instructed the Minister of Energy, Franklin Khan, to in-turn instruct Petrotrin to release the documents.

Kamla: Privy Council ruling reflects on withdrawal of Malcolm Jones lawsuit

The Privy Council’s ruling yesterday has led the Opposition Leader to again question the decision to have the multi-million-dollar lawsuit against former Petrotrin chairman, Malcolm Jones, withdrawn.

Addressing UNC supporters in Sangre Grande last night, Persad-Bissessar said the pieces of the Malcolm Jones saga were coming together.

Jones was taken to court by now-defunct Petrotrin after a billion-dollar gas-to-liquids venture failed. 

However, the matter was dismissed following advice by Queens Counsel Vincent Nelson.

Shell, BPTT bid for shallow offshore blocks

BPTT and Royal Dutch Shell are the only two bidders for three of the six shallow water blocks that were offered in T&T competitive bid round.

The joint bids were made for blocks 4 (c), U (c ) and lower reverse L.

All three are off the east coast of Trinidad where BPTT and Shell operate several other blocks.

No bids were made for blocks NCMA 2 and 3 that are west of Tobago and no bid for block 1 (c).

 We will have a further update later.

- Curtis Williams

Privy Council rules for release of WGTL documents

The United National Congress (UNC) activist Ravi Balgobin Maharaj has been granted a lifeline in his bid to obtain documents related to Petrotrin's failed billion-dollar World Gas-to-Liquids (GTL) plant deal. 

In a judgement delivered at the United Kingdom's Supreme Court in London, this morning, five Law Lords of the Privy Council ruled that a High Court Judge and the Court of Appeal were both wrong to dismiss Maharaj's lawsuit, over his failure to obtain the documents through a request under the Freedom of Information Act. 

Driver: Gas shortfall could affect growth

The fate of T&T’s con­tin­ued eco­nom­ic growth could be par­tial­ly hinged on the suc­cess of BPTT and At­lantic find­ing a so­lu­tion to the short­fall in gas sup­ply that is pro­ject­ed in 2020/2021, as fail­ure could hurt the coun­try’s rev­enue stream.

Asked about the worst-case sce­nario fol­low­ing BPTT’s re­cent dis­ap­point­ing drilling at two in­fill wells yes­ter­day, En­er­gy Cham­ber CEO Dr Thack­wray Dri­ver told Guardian Me­dia that it could lead to At­lantic’s Train 1 be­ing moth­balled.

Young: Govt still negotiating Train 1

The Gov­ern­ment is still in ne­go­ti­a­tions con­cern­ing the fu­ture of At­lantic LNG Train 1, Min­is­ter of Com­mu­ni­ca­tions Stu­art Young said in Par­lia­ment on Monday.

The Port-of-Spain North/St Ann’s West MP said the Op­po­si­tion was us­ing the re­cent an­nounce­ment by BPTT con­cern­ing gas sup­ply to the Point Fortin plant, as a tool for fear mon­ger­ing.

“Yes, ob­vi­ous­ly this gov­ern­ment is go­ing to look at what hap­pens with Train 1.

There is no re­joic­ing, this gov­ern­ment is not hap­py about any set­back what­so­ev­er, in the en­er­gy sec­tor.

Not just one well fails to produce: BPTT to lose 15% of its production

BPTT’s pro­duc­tion will fall by up to 300 mil­lion stan­dard cu­bic feet per day in 2020 and 2021, ac­cord­ing to the en­er­gy ma­jor.

This is a 15 per cent drop in pro­duc­tion and con­flicts with the Mid-year Bud­get Re­view pre­sent­ed by Fi­nance Min­is­ter Colm Im­bert.

Im­bert tried to down­play the sig­nif­i­cance of the de­cline by say­ing he ex­pect­ed lit­tle im­pact on nat­ur­al gas pro­duc­tion.

Chamber: Mid-year growth figures present hope

The Chamber of Industry and Commerce says that the positive growth figures quoted by Finance Minister Colm Imbert in the 2019 midterm review present some hope for the wider private sector in the coming months.

The chamber issued a statement saying it was also pleased to hear the minister’s comments regarding some long outstanding issues on which it has been lobbying for some time.

China-T&T agreement to make T&T a ship-servicing stop

Prime Minister Dr Keith Rowley says the government is working closely with the government of China to build and operate a ship-servicing facility in this country.

The plan is part of an initiative to diversify the economy away from oil and gas.

Dr Rowley made the announcement at a ceremony to sign a contract for a new central block of the Port-of-Spain General Hospital at the Diplomatic Centre in St Ann's Monday morning.

The new block will cater for 540 beds, more than 100 above what the old block held.

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