Business

Tobago anxious about PM’s plan to fix economy

Prime Min­is­ter Dr Kei­th Row­ley’s lat­est state­ments on his Gov­ern­ment’s steps to mend To­ba­go’s econ­o­my are caus­ing anx­i­ety among many stake­hold­ers on the is­land. How­ev­er, while they re­joiced at some of Gov­ern­ment’s plans yes­ter­day, they said the ma­jor­i­ty of the mea­sures do not ad­dress the sit­u­a­tion in the short term.

Over the last cou­ple of years, the is­land’s econ­o­my has faced chal­lenges, with the seabridge woes deep­en­ing the prob­lems.

PowerGen denies sale of Wrightson Road plant to Ansa McAl

The management of the Power Gen is denying reports that the company's Wrightson Road property will be sold to a business conglomerate.

In a statement issued Monday, PowerGen's management said it had been made aware of false information being shared on various social media platforms which states that PowerGen’s property at Wrightson Road, Port of Spain has been sold to ANSA McAL.

PowerGen said that its Port of Spain property is still vested in the company and that there are no discussions or arrangements at this time for the sale of same to any entity.

NGC to open state-of-the-art CNG station in Couva

A state-of-the-art CNG and multi-fuel service station is being constructed on the western side of the Preysal Interchange in Couva.

NGC CNG, with parent company The National Gas Company (NGC), in partnership with the National Petroleum Marketing Company Limited (NPMC) will be constructing the facility, which will cater to the thousands of residents of the area and conveniently service commuters along the Sir Solomon Hochoy Highway.

The fueling station represents Phase 1 of development work at the site, with a planned Phase 2 after the station is completed.

LIAT could drop T&T route if funding not given

Prime of St Vincent and the Grenadines, Dr Ralph Gonzalves has hinted that the Leeward Islands Air Transport (LIAT) could drop Trinidad and Tobago from its schedule of routes, as the airline seeks to restructure amid financial burdens.

Dr Gonzalves, who is also the CARICOM Lead among Heads of Government for Transport (Maritime and Aviation), made the comment during an interview with WE FM in St Vincent and the Grenadines.

LIAT is seeking an injection of US$5.4 million to help keep the airline in the sky and the matter has been taken to CARICOM for assistance.

T&T sees highest monthly oil export to US in 7 years

Trinidad and Tobago's oil exports to the United States, reached a notable but not-overly-significant seven-year high in December last year.

This is according to figures released by the US Energy Information Administration.

The data shows that in December 2018, this country's export of crude oil to the US was 1.127 million barrels, the most ever exported in one month, since November 2011.

It was also the highest December delivery to the US, since 2007.

The data does not explain the reason why that month, in particular, accounted for such a high volume.

EOG prepares exploration & production schedule for T&T

EOG Resources has approved a prospective exploration and production schedule for Trinidad and Tobago for the next five years.

The company made the disclosure Prime Minister Dr Keith Rowley has met with a high-level delegation from EOG Resources.

Their plan includes the deployment of a number of wells for both production and further exploration which is based on their analysis of recent state-of-the-art seismic work. 

Pages