Economy reels as US tariffs soar to 15%

2025, 08/03

In a sweeping update to the US tariff schedule affecting 69 trading partners worldwide, US President Donald Trump set a 15 per cent tariff on imports from T&T under a new executive order titled “Further Modifying the Reciprocal Tariff Rates.”

From 7 August tariffs on exports will rise to 15 per cent, sparking fears of reduced competitiveness, dwindling foreign exchange inflows and blows to manufacturing and energy sectors. As the cabinet braces for a potential economic storm, an inter-ministerial committee comprising foreign affairs, energy, trade, finance, and planning will meet on 5 August to chart a response and way forward.

As key industries of methanol, ammonia and perhaps urea confront uncertainty in the critical US market, Prime Minister Kamla Persad-Bissessar ordered an urgent review , warning of serious consequences for the economy from the inflated levy—up from 10 per cent in April when the Energy Chamber reported that the US export market is very important to T&T, accounting for about 30 per cent of exports.

Over 95 per cent of exports to the USA comprise energy-related commodities: crude oil, LNG, methanol, ammonia, fertilisers (urea and UAN) and iron and steel. Crude oil, LNG and some fertiliser are exempt from the tariff.

The Foreign Affairs Ministry confirmed that a report was prepared on instructions from the Prime Minister. Government intends to implement a “multi-pronged approach” , collaborating with affected stakeholders for a resolution, including COTED (Council for Trade and Economic Development) to determine steps in the short term. Long-term plans will be rolled out soon.

The Central Statistical Office (CSO) reported that in 2024, exports to the US amounted to $21.04 billion or US$3.1 billion.

President of the T&T Manufacturers’ Association (TTMA) Dale Parson feared a negative effect on business. The tariff adds another stumbling block to the competitiveness of local products, particularly manufactured goods exported to Houston, Miami, New York and North Carolina, since 39.4 per cent of all exports go to the US.

“This additional five per cent will have a terrible negative impact on all goods and services exported from Trinidad into the United States. .. diaspora depend on locally manufactured goods exported into the US and this will definitely reduce our local competitiveness , not only energy and chemical items but also locally manufactured goods,”

While a 15 per cent tariff was imposed on T&T and Guyana , 10 per cent tariffs remained on the rest of Caricom. Parson lamented, “This is really unfortunate and unfair, and I hope the Government can reach out to the US foreign affairs to see if the additional five per cent can be reverted,”

The rise makes exports less competitive in the US market and limits the ability to earn foreign exchange from international trade, as exports are the main way to generate foreign exchange outside the energy sector. Hefty tariffs stymie diversification, industry and exports, especially manufacturing. The Foreign Minister must negotiate with the US, as other countries did, for removal from this list is extremely vital to the ravaged economy, left in a dire state by the last regime.

Trade, Investment and Tourism Minister Satyakama “Kama” Maharaj reaffirmed that Government is managing the challenge.

Guyana and Venezuela also face a 15 per cent tariff.

 

 

BP renews EnerMech contract on platforms

July 31, 2025, by Dragana Nikše

Aberdeen-headquartered engineering and energy expert EnerMech won a contract extension for work on offshore platforms operated by bpTT, the Trinidad and Tobago affiliate of UK energy leviathan BP.

With the two-year extension of the contract originally secured in 2022, the Scottish integrated solutions specialist will continue providing crane operations on 12 platforms bpTT has a stake in, offshore Trinidad and Tobago.

In addition to the offshore platforms, BP’s local assets encompass three subsea installations and two onshore processing facilities. One offshore development in which bpTT has a stake recently achieved first gas when a well was connected to the Mento platform. bpTT participates in the project through a 50:50 joint venture with operator EOG. BP Trinidad and Tobago operations collectively contribute around 50% of the islands’ natural gas output.

EnerMech’s scope under the extended contract includes crane operations, preventive and corrective maintenance, minor modifications, offshore audits, onshore technical, HSE, and planning support, as part of the deal.

Chief Executive Officer, Charles Davison Jr. noted the petroliferous Caribbean Sea, Gulf of Mexico and South America mark key growth geographies for EnerMech.

Al Murray, Operations & Maintenance Manager, Lifting Solutions at EnerMech, said: “Our strong working relationship with bp has been a key factor in the continuation of this contract and the foundations laid over the last three years will be crucial to the continued success of the operations.”

 

 

bpTT’s quarterly report: Investing in the future of energy

30 July

bpTT is Trinidad and Tobago’s largest hydrocarbon producer, with 12 offshore platforms and three subsea installations.

Since it began production of oil and gas in in the 1950s, tthe company has grown from strength to strength. Now, with resources becoming mature, bpTT is reaffirming its commitment to extracting the most out of its fields, in its quarterly update released on July 28.

Digging deeper into mature fields

President Dave Campbell told the Society of Petroleum Engineers of TT (SPETT) symposium on July 8 that bpTT is using technology, innovation and experience to get the best out of its mature fields. Campbell said just as mature fields are a mainstay for the economy, so too are mature basins one of bpTT’s core strengths.

“They are not new territory to us. They are a core part of our portfolio. We have learned that with the right approach mature basins can continue to deliver at material value.

In bpTT and indeed globally, we bring decades of experience to bear in terms of operating some of the world’s most mature and technically complex basins. From the harsh environments of the North Sea… to the vast onshore fields of Russia and Rumalia in Iraq, we have constantly demonstrated how mature assets can be revitalised and made more competitive.”

bp Global has developed several innovations such as using compression and seismic surveys for better production on mature fields.

“I remember when I first started in Forties (the second largest oil field in the North Sea) they were just installing gas lifts in wells there for the first time.”

He said the wells in the Forties began to see declines after years of producing millions of barrels of oil a day.

With the use of technology the production was able to keep going until bp sold the field to Apache in 2003. The field is still operated by Apache more than 20 years later.

bpTT has introduced compression – the method of compressing gas in oil and gas fields to increase production – in fields such as Cassia.

“Across our mature basin portfolio in TT we have been using technology to unlock the potential of mature fields.”

Seismic reprocessing has been pivotal in unlocking more opportunities for production in mature fields.

“We shot a very large ocean bottom survey about ten years ago. I think we are still living off the benefit of that now. We are still finding new pockets of gas on the basis of that ocean bottom seismic survey. And it’s not only introducing a new technology, it is also reprocessing that can be done again and again as technology moves forward.”

The company gave updates on the Cypre gas field which achieved first gas earlier this year. Cypre is located 78 kilometres off the south-east coast of TT in the East Mayaro Block in a water depth of about 80 metres. It is bpTT’s third subsea development. It includes seven wells and subsea trees tied back to its existing Juniper platform.

The quarterly report confirmed that bpTT has started Phase 2 of its drilling programme, which comprises three wells. The first well has been completed and drilling is proceeding on the second well. Once drilling is completed the next step would be to hook up the two wells to their current system and commission the wells.

In May, bpTT announced it achieved first gas in Mento Field, a 50/50 joint venture with EOG resources of TT’s south-east coast. Production is expected to start up in 2027.

bpTT invests in the future of energy

From clean energy to investing in education in energy, bpTT highlighted how it is investing in the future of energy. On July 25, bpTT announced that first electrons from the Brechin Castle solar farm have been successfully delivered to the TT Electricity Commission (T&TEC). Brechin Castle, the first utility scale solar farm in TT, is being developed through a joint venture between bpTT, Shell and the National Gas Company (NGC).

The programme is ultimately expected to provide about 92 megawatts of power to the national grid – eight per cent of TT’s electricity demands. This in turn is expected to offset a significant amount of natural gas for the downstream energy sector.

The quarterly report highlighted the company’s investment in people, starting with “bpTT Boost” a youth development camp launched on July 15, just in time for the July/August vacation (JAVA) for pupils between the ages of 11 and 15. The camp is facilitated by the Business Clinic and sponsored by bpTT.

Ryan Chaitram, vice president of communications and external affairs, said the camp provides a complete developmental experience through a combination of different disciplines such as coding and entrepreneurship to foster creativity, problem solving and confidence in navigating the digital world.

Pupils will also get cricket training and football training.

 

 

 

Energy ministers tour Atlantic

2025, 08/02

Energy Minister Roodal Moonilal and Minister Ernesto Kesar visited the LNG plant at Point Fortin on 29th and 30th July 2025. Dr Moonilal, Mr Kesar and acting permanent secretary Karinsa Tulsie went on a guided plant tour of Atlantic’s liquefaction processes and integrated safety systems during the company’s 13th annual Process Safety Week under the theme “Back to Basics: People, Process, Safety Fundamentals.”

Process Safety Week has been an important part of Atlantic’s reinforcement of a culture of safety, increases process safety awareness and brings focus to the everyday behaviours and systems that support safe, reliable operations across the organisation.

Adam Lowmass, executive vice president and country chair of Shell Trinidad and Tobago and Venezuela, emphasised that process safety is not a two-day event but a daily discipline critical to sustaining Atlantic’s role in the economy.

He challenged employees to focus on the basics, such as Management of Change, preparation for work and barrier health and to take personal ownership of safety through small, consistent actions. Lowmass also urged greater industry collaboration and curiosity, highlighting the need to learn not just from failures but from the practices that keep performance strong.

Shell has a 45 per cent ownership stake in Atlantic.

Jean Andre Celestain, CEO of Atlantic said, “Process Safety Week is more than an annual observance. It’s part of how we keep safety real, relevant, and rooted in our day-to-day actions.”

With continued participation from shareholders BP, Shell and NGC, Process Safety Week remains one of Atlantic’s most important knowledge sharing and engagement platforms, fostering a collective sense of accountability and is a shared vision for safe operations.

The event featured a series of presentations, refresher sessions, quizzes and interactive booths hosted by Atlantic, Shell Trinidad and Tobago and bpTT, employees and contractor personnel had the opportunity to engage with process safety tools, apply key principles in real-time scenarios and participate in discussions around practical safety challenges.

 

 

Government monitoring global energy developments

28 July 2025

Energy Minister Dr Roodal Moonilal says government continues to monitor global energy developments following a recent decision by the US government to allow energy multinational Chevron to resume energy exploration in Venezuela.

The reversal is believed to be part of a recent prisoner swap deal that saw the return of ten remaining Americans detained by the Venezuelan government. In exchange, the US arranged for the return home of 252 Venezuelans who had been deported to a counter-terrorism prison in El Salvador .

Chevron scored a licence to do business with Venezuela in 2022 under the former Joe Biden administration after President Nicolas Maduro expressed an openness to conducting fair elections. The US says free elections never happened – the US recognised Maduro’s opposition as the legitimate winner – yet Maduro clung to power.

In February, the Trump administration rescinded Chevron’s licence to do business in Venezuela, giving the company a May deadline to wind down operations.

A Washington Post report this week said as part of the deal, no royalties or taxes would go to the Maduro regime. The new deal would allow Chevron to operate with limitations in the sanctioned Opec nation.

In response to the news, Chevron said the company conducted its business globally in compliance with laws and regulations applicable to its business, as well as the sanction frameworks provided for by the US government, including in Venezuela.

On July 25, Moonilal said. “We are always monitoring global energy developments. Markets are unpredictable on both the demand and supply sides while persuasive geopolitical considerations are ever present.”

He made no direct reference to Chevron being allowed to resume operations in Venezuela. He made no comment on whether or not consideration would be given about pursuing energy initiatives the former regime had with Venezuela before the April 28 general election.

On April 8, then prime minister Stuart Young said the US government had revoked the Treasury Department’s Office of Foreign Assets Control (OFAC) licences for Dragon and Manakin-Cocuina cross-border gas fields. The Dragon gas deal licence granted on October 17, 2023 was due to expire on October 31, 2024.

The Manakin-Cocuina licence was granted on December 18, 2023. Young said he was in contact with attorneys in Washington DC and could not provide further details. The Manakin-Cocuina field is the second largest on the Trinidad and Tobago-Venezuela maritime border. It holds at least one trillion cubic feet of proven gas reserves.

At that time, the Trump administration announced it was ending all oil and gas licenses granted by the Biden administration for energy exploration in Venezuela, including Chevron’s. Before the election, Young said efforts would continue to be made to reapply for OFAC licences for Dragon and Manakin-Cocuina.

The UNC won the election 26-13-2. In May, Prime Minister Kamla Persad-Bissessar declared the Dragon deal was dead. UNC would focus on energy initiatives with Grenada, Guyana and Suriname instead.

This week, Moonilal confirmed a Reuters report that government is negotiating with Exxon Mobil to explore and produce oil and gas in up to seven deep-water blocks off its east coast. He said dialogue between TT and major oil and gas companies were advanced in critical meetings at the Suriname gas conference last month.

“We are in discussions with major players to ramp up exploration and production within and outside of bid rounds.”

 

 

ExxonMobil mulls ultra-deepwater Trinidad acreage

Amanda Battersby Singapore 24 July 2025,

US behemoth in talks for Trinidad blocks outside the current bid round

US champion ExxonMobil is reportedly in talks with the Trinidad & Tobago government to acquire up to seven deepwater blocks, returning to the petrostate after over 20 years.

The acreage in the supermajor’s sights is located north of its prolific Stabroek field offshore Guyana, where the operator discovered over 11 billion barrels of crude and is on track to produce some 900,000 barrels per day of oil by the end of the year, Reuters reported, quoting unnamed sources.

 

 

 

UN development framework

14 July 2025

Planning, Economic Affairs and Development Minister Kennedy Swaratsingh and UN resident co-ordinator Joanna Kazana endorsed the UN’s Multi-Country Sustainable Development Co-operation Framework (MSDCF) on July 9.

The government of TT and the United Nations signed off on a UN developmental framework to fulfil the 2030 agenda through efforts in enhancing climate change and economic resilience, peace, shared prosperity and equality.

Through the official endorsement of the UN Multi-Country Sustainable Development Co-operation Framework (MSDCF) 2022-2026 July 9, TT will benefit from a holistic response to sustainable development challenges.

On July 13, the Planning, Economic Affairs and Development Ministry said the MSDCF was the most important instrument for planning and implementation of the UN development activities towards the 2030 Agenda. Minister Kennedy Swaratsingh said the MSDCF would foster inclusivity by ensuring that vulnerable groups were prioritised in the government and the UN development agenda. The UN system’s partnership with the government had contributed to TT over the years in advancing sustainable food production and prevention of gender-based violence among other things.

UN resident coordinator Joanna Kazana and her team pledged, through the signing, to continue supporting TT with projects related to violence and crime, especially amongst youth. Digitalisation, artificial intelligence, cyber-security, online threats, health nutrition, diseases and human trafficking are also issues the UN pledged to assist TT with through projects and systemic actions.

 

 

Wind energy

2025, 07/25

Energy Minister Dr Roodal Moonilal has identified wind as a key resource for utility-scale power development in Trinidad and Tobago.

The minister highlighted the importance of wind energy in a keynote address at the Validation Workshop for the European Union Funded National Wind Energy Action Plan (WEAP), hosted at the head office of the National Energy Corporation of Trinidad and Tobago Limited (National Energy) in Couva. He noted the progress of the Onshore Wind Resource Assessment Programme (WRAP), which will be expanded with the deployment of two additional wind measurement devices covering the Los Iros/Santa Flora and Toco/Manzanilla areas by the end of this week.

He announced that wind energy progress will not be limited to the completion of the onshore WRAP as he has directed that offshore wind will be pursued concurrently.

“The Ministry, as chair of the Wind Energy Steering Committee of Trinidad and Tobago, will be issuing a request for proposals to conduct an offshore wind resource assessment programme for Trinidad and Tobago. It is my intention to have bankable data available for investors by 2026, identifying the best sites both for onshore and offshore wind deployment.”

According to a release from the workshop led by the Ministry of Energy, the event sought to progress through presentations and discussions, the action plan for the National Wind Energy Development which builds upon the wind strategy, “Setting the Path for Wind Energy Generation in Trinidad and Tobago Report”, a desktop study funded by the Delegation of the European Union.

President of National Energy, Dr Vernon Paltoo, stated, “As the executing agency for the Wind Resource Assessment Programme, National Energy remains fully committed to our Ministry, to our partners, and to the people of Trinidad and Tobago. We are determined to ensure that our energy transition remains focused, ambitious, and above all achievable,”

 

 

 

 

Brechin Castle Solar Ltd achieves first electrons

22 July

The Brechin Castle Solar Ltd, a joint venture partnership between BP (35 per cent), Shell (35 per cent) and NGC (30 per cent), has achieved first electrons from the first utility-scale solar farm. On July 22, bpTT said these electrons were successfully delivered to the TT Electricity Commission sub-station at Brechin Castle – providing cleaner energy into the electricity network.

On July 17, first electrons were transmitted from the southern segment of the Brechin Castle Solar farm, which will be gradually ramped up to deliver up to 40 megawatts (ac) of power to T&TEC.

The Brechin Castle Solar Ltd achieved first electrons on July 17. Work will continue toward achieving mechanical completion on the northern segment before fully commissioning the site in the fourth quarter of 2025.

Once fully commissioned, the solar farm will have the capacity to deliver up to 92 megawatts (ac) of power into the national electricity grid.

This makes it the largest utility-scale solar farm in the region. The solar farm will provide approximately eight per cent of TT’s power generation, allowing natural gas to be redirected to other downstream users.

“This achievement underscores the commitment of bp, Shell and NGC to diversifying TT’s energy mix, reducing carbon emissions while supporting the energy needs of the country,”

Teak, Samaan, Poui oilfields

14 July 2025

Key staff for production of oil and natural gas from the Teak, Samaan and Poui (TSP) fields operated by Perenco TT say they have been forced to use their sick leave for the past week to protest against poor conditions and even worse salaries.

While the fields are operated by Perenco, the employees are sub-contracted under Sookhai Engineering and Rental Services Ltd (SERSL), owned by a relative of former PNM candidate and minister Richie Sookhai. The contract was awarded in 2018.

Workers highlighted several concerns, including inferior PPE, delays in payments of salaries, severance, victimisation and working in a high-risk environment without medical or life insurance.

On July 7, about 25 key staff working on the nine platforms in the TSP fields engaged in sickout action to raise awareness of their challenges. They complained that they attempted to meet with management of SERSL to no avail. They said on July 14, they received an email saying contract negotiations are ongoing.

Employees said that while action is being taken, this is the first step as some employees are considering legal action. Workers said since the sickout operation began, the production from the fields have dipped.

“Maybe now that it is affecting production and not just people, they will give us a listening ear,” one said.

Operations manager Edwin Nancoo at SERSL declined to comment on the allegations, saying negotiations were currently underway involving a third party. He denied production was affected by the sickout.

“Right now we haven’t lost any production because we have manpower coverage. Other than that, I can’t say much, negotiation is going on and I don’t want to hamper that . They have workmen compensation insurance, which is a big figure and they have a contract agreement, which we follow.”

Engaging in the sickout are production operators, who run the day-to-day operations of the oil and gas platforms, to ensure that the rigs produce oil and gas. On July 14, workers explained that owing to crew changes on the different platforms, workers on the Samaan field took sickout action on July 7, on July 8 workers on the Poui platform took sickout action and other workers did the same on the Teak platform on July 9. Since SERSL was awarded the contract in 2018, the work crew has been under the same contract.

“There have been no improvements, no increases, no medical plan, no usable job letters. We have been trying over the years to negotiate with the company to get some kind of betterment. But it continues to fall on deaf ears. The communication is lacking between the employers and the employees.

It is basically a take it or leave it type of situation and I think we have just had enough.

We work in an extremely high-risk environment. For some people working on an oil rig is like working on a ticking time bomb. We continue working on but for a company to not even have the standard of having a medical plan for employees, that is something we take very seriously.

“We are at risk every day. We are dealing with hydrocarbons, we are dealing with acid – it is not only a direct physical risk, it could have an effect on us years from now.”

The workers revealed that they are currently being paid $70 an hour, a salary that, when calculated, amounts to less than $10,000 a month. Workers said that salary had to be raised from $45 an hour. They said even with that pay, they usually have to wait up to nine weeks to get their salaries.

“We have been asked since 2018 to be paid monthly. We have been promised since then that it would be done. But seven years later it has not been done.”

The workers are paid per “hit.” Workers go offshore for 28 days, then come home for another 28 days. However he said after the 28 days home, it still takes another seven days for the workers to be paid.

Severance packages, which, as yearly-contracted workers are supposed to be paid at the end of the contract, also face serious delays.

“For some strange reason at the end of the contract they keep pushing the payments back by four months. If we were paid in December one year, the next year it will be pushed back to March. The next year it gets pushed back to July. Until it reaches the point where you could miss a whole year.”

Workers lauded Perenco for their efforts to make the platforms safe, working on installing safety measures, given that the assets are relatively old. Employees called for Perenco, or any union, to assist in mediation and negotiation, given that they are not unionised. They asked for the Energy Ministry to intervene.

Perenco acquired the Teak, Samaan and Poui fields in 2016, with a focus on modernising operations, increasing gas output and extending the productive life of mature and marginal oil and gas reserves in the field.

The Energy Ministry said Perenco is now considered one of the top three natural gas producers in the country after the completion of its acquisition of the Greater Angostura Producing oil and gas assets and production facilities from Woodside Energy.

OWTU:    – Non-unionised workers being exploited

Chief education and research officer at the Oilfield Workers Trade Union (OWTU) Ozzi Warrick was not surprised over the complaints and the industrial action. He said workers who are not with a union are usually exploited.

“They work under very poor health and safety conditions with no proper terms and conditions of work and they are paid way below the surplus value they produce.”

The model pushed by the last administration, which involved removing trade unions from the energy sector, made the jobs on oil and gas more difficult and places workers at greater risk.

“Recent fatalities in the sector proved this to be true.”

On December 22, 2024, Pete Phillip, an offshore worker employed with Well Services Petroleum Ltd went missing after Rig 110 collapsed.

On March 7, 75 days after he went missing, relatives said with the length of time it has taken to recover his body, they may only get bones.

In February 2022, five divers, Fyzal Kurban, Rishi Nagassar, Yusuf Henry, Kazim Ali Jr and Christopher Boodram became trapped in an oil pipeline near Pointe-a-Pierre while conducting maintenance work. Boodram was the only survivor.

Warwick said the removal of unions also increased the risk of environmental accidents.

“It has become even more urgent for the sector to become unionised to protect workers’ rights and bring back a level of dignity for these workers. These workers are essentially responsible for the large profits of the multinational oil and gas companies and a large part of the country’s revenue, yet they are treated with utmost disregard, disrespect and disdain by employers.”

The approach by multinational companies to sub-contract operations for drilling for a labour supply instead of directly hiring workers guarantees large profits for them at the cost of the employees’ livelihoods.

“The current state of working conditions for workers in the offshore sector is reminiscent of the 1930s. Workers only hope is to join a trade union and stand up collectively for their dignity and their rights. It is also important that any impediment to workers joining a trade union of their choice including victimisation be removed.”

 

 

 

Energy mismanagement

23 June 2025

‘$1.5b SQUANDERED’: Minister Moonilal spoke in the debate on a Motion to Adopt the Report of the Standing Finance Committee at the Red House

Energy Minister Dr Roodal Moonilal criticised the former regime’s fiscal management of the energy sector and strange hirings, which included the wife of a former minister at a State company.

In the debate on the mid-year budget review at the Parliament sitting , Moonilal disclosed that Trinidad Petroleum Holdings Ltd appointed Joel Jack as a consultant specialist advisor to the chairman and board, at a retainer of $70,000 a month. Jack is a former Tobago House of Assembly (THA) secretary of finance.

“Joel Jack appointed specialist advisor. So when they were kicked out of Scarborough, they found their way to Santa Flora, South Trinidad.”

Moonilal said he preferred to speak on policy but had to point out “the wife of a former minister engaged at National Energy as advisor, [earning] $40,000 a month.”

He highlighted poor decisions regarding allocation of the gas-to-liquids plant to NiQuan, as he recalled the death of Allanlane Ramkissoon. When NiQuan went into receivership, it owed Trinidad and Tobago Upstream Downstream Energy Operations Company Ltd (TTUDEOCL), a special purpose company in the Ministry of Energy set up specifically to negotiate NiQuan’s gas agreement.

NiQuan currently owes the Government US$95 million, with the matter now being arbitrated in London. Legal costs stem from this.

He said the National Gas Company invested $250 million in Atlantic LNG Train 1 even after BP indicated it was not economically viable.

“Then NGC had a mix-up with BP over an expansion upgrade of the Beachfield facility in Guayaguayare, upgrading compressors and so on…so that’s a next $95 million; so we reach half a billion. So, $1.5 billion squandered away.”

Moonilal dismissed criticisms by former energy minister Stuart Young since demitting office. The minister said his ministry requested $1.3 million from the $3 billion supplementation. Young would receive a “hearty handshake” as former energy minister, entitled to a benefit of $365,694 for back pay and salary adjustments pursuant to the increase in Government salaries.

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