US Navy leaves Trinidad and Tobago

31 October

USS Gravely departed Port of Spain on October 30 around 10 am, to little fanfare. The Arleigh Burke-class Aegis guided-missile destroyer of the US Navy arrived on October 26 for a joint training exercise with the TT Defence Force, escorted by two tugboats and Coast Guard vessels, accompanied by members of the 22nd US Marine Expeditionary Unit.

Named for Vice Admiral Samuel L Gravely Jr, the 57th destroyer in her class was commissioned in 2010 and received awards in 2021-2024. In 2022 the battleship was deployed in the Mediterranean Sea where she was on patrol during the Syrian civil war and undertook training with Finnish and Swedish navies in the Baltic Sea. In 2023-4 she shot down missiles from Yemen. In 2025 she assisted border security operations in the Gulf of Mexico.

On May 25, 2025. USS Gravely (DDG 107) seized 860 pounds of illegal cocaine, with an estimated street value of approximately $13.65 million from a vessel in the Caribbean Sea, in joint efforts with the U.S. Coast Guard, effectively extending Coast Guard authority through naval power to enhance maritime security operations.

Debate about the warship strained relations between Trinidad and Tobago and Venezuela and sparked regional and international interest. As international media reported her docking, Venezuelan president Nicolás Maduro accused his neighbour and erstwhile partner of collaborating with the US and the CIA to provoke a military confrontation in the Caribbean Sea, claiming its presence was part of a broader plan to destabilise Venezuela which shares jurisdiction of the Gulf of Paria.

Prime Minister Kamla Persad-Bissessar welcomed the destroyer, hailing the regional efforts of the mighty US military, including operations targeting alleged drug traffickers . On its delayed departure after spending 4 days, the waterfront was quiet and few seemed aware USS Gravely was leaving. Most onlookers avoided the media, some admitting they left work to catch a glimpse. Others feared becoming targets of online criticism for their opinion.

One said the public “don’t think before commenting,” while describing the US as a major power. If anything were to happen “with leftist countries like Russia or China, the US is the one that can respond.” While Venezuela is “our neighbour,” the two nations “don’t have open trade or close relations, same with Cuba. We can’t fool ourselves.”

Reflecting on TT’s long-standing co-operation with the US, he said, “The US always helps with training, coast guard vessels, and surveillance. Sometimes they come three or four times a year to train our army and police,” insisting the visit was “nothing strange.”

If there was ever an attack from Venezuela toward Trinidad or Guyana, with the US as a strong ally, the country would be safe. He criticised the local media coverage of the Gravely as unprofessional. and chastised journalists for being afraid to question those in power.

The press has a big role to play in society, but “they’re not doing what’s required. Just believe the media, right? They write whatever they want.”

Trinidad Coat of Arms with Columbus Ships 1962–2025

Ships have been a part of Trinidad & Tobago since re-discovery by Christopher Columbus, whose ships graced the Coat of Arms 1962-2025 before mutilation by the ousted regime. The Caribbean Sea carried canoes, Spanish galleons, British, French, Dutch, German and American sailing ships, steamships, U-boats, pirate ships, yachts, submarines, battleships, trawlers, pirogues, catamarans, dinghies and cruise ships.

 

Petroliferous Gulf of Paria, one of the best natural harbors on the Atlantic coast, is the main fishery of Trinidad and Tobago. With 135,000 troops on the island at its peak, US Naval Base Trinidad at Chaguaramas played significant roles in World War II as the convoy-assembly point transmitting tankers from oil ports of the Caribbean Sea across the Atlantic to North Africa and Europe.

US carriers and aircraft conducted final exercises in the Gulf before entering the Panama Canal en route to the Pacific Battleground. Aircraft for the Eighth Army in North Africa were ferried through Trinidad. Vessels and civilian aeroplanes from South America stopped at Trinidad for clearance to proceed to North America and European destinations.

In 1970, as blackpower riots raged, London University collaborated with the Royal Navy, the UK naval warfare force and a US ship in a UNESCO survey of the Caribbean Sea, refuelling in Chaguaramas. As homicides exceeded 600 in 2024, RN Patrol ship HMS Trent seized £750m of illegal drugs and intercepted its first ‘narco-sub’ . In an annual commitment RN delivers humanitarian aid to the region during hurricane season.

 

Southcom assistance delivering relief to Jamaica

31 October

Storms continue to feature in the Occidental Antillean Archipelago. On October 30, Foreign Minister Sean Sobers identified United States Southern Command (Southcom), as an agent helping Trinidad & Tobago send relief to Jamaica in the wake of Hurricane Melissa. The arm of the US military force, responsible for executing President Donald Trump’s offensive against narco trafficking in the region, will pivot to be a stakeholder in T&T relief efforts after the storm made landfall on October 28, devastating the island.

After the Prime Minister oversaw the shipment of aid to Jamaica, as relief supplies and manpower pour in from all over the country,  she reported, “If I’m not mistaken we’ve also liaised with some aspects of Southcom so that they will provide assistance to move personnel to Jamaica as well as heavy equipment such as generators and water tanks.”

In August, US officials confirmed the military deployed three Aegis guided-missile destroyers in the region as part of President Donald Trump’s efforts to combat threats from Latin American drug cartels.

The USS Gravely, part of the US military presence in the region for the last few months, left Port of Spain on October 30 after a 5-day visit. It is not clear whether the destroyer is part of T&T aid effort for Jamaica, after the warship and its crew conducted training exercises with the Defence Force. The presence of the Southcom forces resulted in 9 strikes on alleged drug-smuggling boats in the Caribbean Sea.

 

 

PM pledges frontline relief

but no aid from AU

31 October

Prime Minister Kamla Persad-Bissessar supervised packing and dispatch of the first shipment of humanitarian relief supplies at the Plipdeco warehouse on Point Lisas Industrial Estate. 8 containers of aid were sent to Jamaica following widespread devastation by Hurricane Melissa.

The Leader said 8 containers of essential relief supplies were deployed last night aboard the MV Seaboard Ranger for Jamaica, her second home, battered by Hurricane Melissa. She viewed firsthand the initial shipment of humanitarian aid at the Plipdeco warehouse at Point Lisas Industrial Estate. These comprised critical non-perishable food items, including milk and baby formula, bottled water, medical and hygiene kits, generators, tarpaulins, cots, blankets, cleaning supplies, and power tools for recovery and relief work. Persad-Bissessar said the people of Jamaica are strong and resilient and they continue to remain in her thoughts and prayers.

“I want to thank Prime Minister (Andrew) Holness for being there every day rallying his troops, his people, they will bounce back, they are very strong resilient people. I send all my love. Of course, I feel saddened to see the destruction, having been there for so long. They were part of my life. I was just 18 years old when I went to Jamaica and I spent 14 years with my husband there.”

She studied and lectured at The University of the West Indies so Jamaica and its people will always hold a special place in her heart as it helped shape her ideals of service and empathy. Yesterday, she assured Prime Minister Holness her Government will be on the frontlines, rendering all possible assistance to Jamaica. She extended deepest condolences to families who lost loved ones in Jamaica, Haiti and the Dominican Republic. Since Sunday, she had been monitoring news and following updates on Hurricane Melissa.

“The trail of death, destruction and agony is truly heartbreaking. We mourn with you and share in your grief. I was moved to tears when I saw videos of the elderly being evacuated before the hurricane hit. Jamaica can be assured that love, help and support are on their way from Trinidad and Tobago”.

Photographs and videos from Jamaica in the aftermath of the hurricane were heartbreaking, communities such as St Elizabeth Parish were severely battered, while other areas are still reeling from the effects of the devastating storm.

On Sunday, she appointed an Inter-Ministerial Emergency Response Team to begin mobilising and preparing to send relief as soon as possible. She reaffirmed Trinidad and Tobago’s long-standing practice of assisting regional neighbours in times of crisis remains a guiding principle of her Government and a reflection of enduring humanitarian values.

“When hardship strikes within our region, Trinidad and Tobago responds not out of obligation, but out of compassion and solidarity. Extending a hand to help our neighbours has always reflected who we are as a people—generous in heart, steadfast in friendship and united by shared humanity.”

Persad-Bissessar voiced gratitude to the Inter-Ministerial team, State enterprises and stakeholders in public and private sectors who swiftly moved to have relief items collected and ready for shipment. She thanked Defence Force personnel, port and Customs staff, individual volunteers, faith groups, non-governmental organisations, the Manufacturers’ Association and the Supermarkets Association. This tremendous and effective collaboration reflects what can be achieved when government, the private sector and citizens unite in compassion and purpose.

“I give praise and thanks to the people of Trinidad and Tobago who have stepped forward and are now stepping forward to lend assistance.”

Such efforts embody the national spirit of service and solidarity and she encouraged local and regional conglomerates and institutions to continue strengthening this mission of support and unity with the people of Jamaica. She conveyed concern for other nations in the region impacted by Hurricane Melissa and intends to work with the Inter-Ministerial Committee to discuss further relief assistance .

Cabinet ministers including Foreign Minister Sean Sobers, Works Minister Jearlean John, Defence Minister Wayne Sturge and Minister of Homeland Security Roger Alexander, National Gas Company chairman Gerald Ramdeen, officers of the Customs and Excise Division and representatives of the Manufacturers Association, Supermarkets Association and other stakeholders welcomed Persad-Bissessar. She toured two warehouses, greeting employees and viewing mountains of aid ready to be transported to the vessel for shipment.

John said, on the Leader’s instructions, the team immediately began coordinating a major effort for Jamaica. Port chairman Ramnarine Rampersad, Ramdeen and the Plipdeco president made two warehouses available for supplies.

“The Prime Minister was hands-on. This morning she called at 3 a.m. ensuring that everything was coordinated. At 7 p.m. tonight (last night), the Seaboard Ranger will sail to Jamaica and it will get there on Sunday morning with 8 x 40-foot containers. So we are very happy for that; that is the beginning. After Jamaica is Cuba and wherever else this storm goes we have to be there for our brothers and sisters.”

Wealthy diaspora can fund hurricane technology to secure roofs. Jamaica supports the US visit and its economy is in a better state than that of T&T. AU can repatriate diaspora to nations of origin as aid, having declared Caricom as its 6th region and offering a homeland for Haitians in 2010. Afreximbank can fund repatriation to nations of origin with rich resources for diaspora to flourish. The Church of England donated £100m for Caricom reparation

 

 

Look no further than US, reliable redeemer after Caricom capitulation

30 October

T&T Leader Kamla Persad-Bissessar plans “significant realignment” of foreign policy in the coming years. On October 28, she said she did not consider Caricom to be reliable and the change in foreign policy had become necessary to improve economic and physical security.

On October 27, in response to Venezuela’s decision to immediately suspend all energy agreements with T&T over support for the US presence in the Caribbean Sea and military action against narco terrorists and arms and human traffickers, the Prime Minister said T&T had projects in energy and non-energy sectors to secure its economic future and did not need Venezuelan gas.

Caracas denounced US military action including bombing of high-speed boats, for advancing regime change, not fighting traffickers. In addition to military assets in the southern Caribbean Sea, a US destroyer docked in Port of Spain on October 26 for joint military training exercises with T&T.

On October 28, the Maduro regime formally declared Persad-Bissessar “persona non grata” which, she said, was of no consequence to her, as securing lives and livelihood of T&T citizens remains top priority.

“We will mainly focus on increasing linkages and co-operation with countries outside the region. We need to look for new partners in trade, investment and security. I maintain cordial relations with all my Caricom colleagues. Our prayers are with the people of Jamaica at this time. Today we are continuing arrangements for relief supplies to be sent there.”

WIth over 9000 foreigners granted Citizenship by Investment, flaunting gesture politics, cowering Caricom capitulated to the sanctioned OPEC member, to which some states are in thrall for receiving Petrocaribe oil.

Venezuelan vengeance disrupts business

Temporary docking of a US Navy destroyer at the port of Port of Spain disrupted commercial operations and reignited debate over the delicate position of Trinidad and Tobago between Washington and Caracas. USS Gravely, entered Port of Spain on October 26 for joint training exercises with the T&T military and remained docked until departure on October 30.

Redirection of several cargo vessels to the port of Point Lisas, was a joint effort by the Port Authority, the port of Port of Spain and the Point Lisas Industrial Port Development Corporation (Plipdeco). It eased otherwise extensive logistical delays but led to additional costs and concerns among business chambers about future risks.

Chambers warned that similar occurrences could have far more damaging consequences for the business community if not properly planned. In a joint statement, the Customs and Excise Division, the Port Authority and Plipdeco said measures were in place to “effectively manage vessel traffic operations” during the period. Customs officers were deployed to both ports to support clearance operations.

Despite these assurances, the T&T Chamber of Industry and Commerce reported “moderate delays in cargo clearance times, incremental costs including extended storage fees, demurrage charges and increased operational costs from supply chain adjustments.” While these costs were manageable for a one-week disruption, a longer delay would have “significant” effects.

It urged the government to continue coordination and recommended temporary relief measures, including a waiver of demurrage charges and expedited clearance for time-sensitive cargo.

“The redirection measures to Point Lisas can be sufficient once there is seamless coordination between Port of Spain and Point Lisas management teams. However, any extension beyond October 30, would escalate our concerns significantly.”

The episode highlights “vulnerabilities in port infrastructure,” the need to improve contingency planning, greater operational redundancy and robust business continuity plans across critical national infrastructure and government services.

One suburban Chamber noted the diversion had caused “logistical issues” and higher transport costs. Recent notification to redirect shipments presented logistical issues to clear shipments and additional cost in terms of transport.

“Ultimately, this uncertainty can affect supply for the Christmas period, a season most businesses look forward to for increased activity in the economy.”

Members noted that new fiscal measures scheduled to take effect in January will double several customs and clearance fees, increasing the burden on importers struggling with limited foreign exchange.

On October 29, voicing concern over escalating tensions between Venezuela and the US and the implications for the economy and investor confidence, it warned that geopolitical tensions and T&T’s position between two major powers “demands prudence and strategic foresight.”

It urged proactive risk management, diversification and open dialogue between the government and private sector to safeguard economic interests.

“TT must reinforce its image as a stable, resilient and well-governed investment destination amid shifting global dynamics.”

On October 28, a day after the Prime Minister publicly supported US naval exercises , which Caracas denounced as a hostile provocation, the diplomatic crisis escalated when Venezuela’s National Assembly declared Kamla Persad-Bissessar “persona non grata” and voted unanimously to suspend all energy agreements, passed under Venezuela’s constitution.

With trademark vigour, the PM dismissed the decision, effectively banning her from entering Venezuela, as “a useless and meaningless gesture.” She described Venezuela’s aggressive actions as an attempt to “bully smaller neighbours while crying for peace with more powerful countries,” reiterating her government’s commitment to anti-narcotics patrols in regional waters.

Following suspension of bilateral energy agreements, the Energy Chamber sought renewed focus on strengthening domestic gas output to ensure energy and economic security.

“In response to recent developments regarding Venezuela’s suspension of energy agreements with TT, the Energy Chamber is calling for a renewed national focus on securing and expanding domestic natural gas supplies.”

It supported government’s commitment to national security and energy independence, stressing the need for reliable gas feedstock for Point Lisas and La Brea petrochemical plants and Point Fortin LNG plant.

It identified 4 key priorities:

1. 1. 1. enhanced recovery from existing fields,
      2. development of new reserves,
      3. cross-border projects with neighbouring countries
      4. and pipeline imports where geopolitically feasible.

“While the current geopolitical climate presents short-term challenges for Venezuelan imports, the urgency of accelerating policies and investments that unlock domestic and regional gas sources cannot be overstated.”

The business sector warned that the combination of port disruptions, fee increases and the suspension of cross-border gas deals could weaken investor sentiment and question T&T’s role as a regional energy hub.

The energy strategy, heavily reliant on natural gas exports and cross-border fields, now confronts renewed uncertainty.

ECLAC updates growth projections

2025, 10/30

The Economic Commission for Latin America and the Caribbean updated its growth projections for the region, estimating that gross domestic product (GDP) will rise 2.4 per cent this year and slightly reduced to 2.3 per cent next year.

The new estimate for 2025 represents an upward revision from the 2.2 per cent forecast in the Economic Survey of Latin America and the Caribbean 2025, published on August 5. This is the second upward revision since April, when the outlook for regional growth was 2 per cent and with this update, the expectation for regional growth is identical to the figure of 2.4 per cent. in December 2024.

The adjustment to the projections reflects a less adverse international environment than what was foreseen in April, but does not change the underlying diagnosis: external drivers of growth decelerated and the region continues to grow at a slow pace. To escape this situation, a more accelerated productive transformation is needed to fuel economic growth and productivity, diversify economies and create more and better jobs.

Revisions to the 2025 projections reflect changes in external conditions. These include modifications in the scenarios for international trade growth due to the effects of tariff announcements by the United States since April and adjustments in the growth prospects of the region’s main trading partners— the pace of which, while decelerating versus 2024, improved in comparison with the estimates from the start of the year.

In addition, inflation expectations at a global level declined at a slower-than-expected speed, affecting interest rate reductions by the main central banks and the dollar’s trajectory in international markets.

Although the international context has been the main conditioning factor in the current year, domestic determinants – such as the reduced space available for fiscal and monetary policies, productive specialisation and the destination of exports—also account for the differences in the performance of regional economies.

Current projections reflect heterogeneous behaviour among subregions. In 2025, South America is growing by 2.9 per cent, above the 2.7 per cent forecast in August, reflecting an increase in trade between countries and PRC and a rebound in prices for precious metals and other products from extractive sectors.

English-and Dutch-speaking sectors are forecast to grow by 4.7 per cent, or 1.9 per cent if Guyana is excluded, versus 4.1 per cent and 1.8 per cent in August, respectively, driven by a more favorable-than-expected result in the tourism sector.

For 2026, regional projection is unchanged at 2.3 per cent.
If this estimate is borne out, it would be the fourth straight year in which the region grows at rates of around 2.3 per cent, leading to average regional GDP growth of 1.6 per cent for the 2017-2026 period.

By subregion, 2026 growth rates are forecast 8.2% per cent for the Caribbean region (1.7 per cent if Guyana is excluded).

The international outlook continues to be dominated by downward risks, including the possibility of abrupt corrections in international financial markets, pressures on fiscal sustainability in advanced economies and possible additional trade disruptions – tensions that could affect the credibility of monetary policies in the world’s main central banks and interest rate levels.

iven this scenario, ECLAC urges the region to preserve macroeconomic stability, strengthen their fiscal and monetary institutions and promote productive development policies aimed at increasing productivity, diversifying exports, boosting intraregional trade and fostering sustainable investment.

In December, ECLAC will publish its flagship report ”Preliminary Overview of the Economies of Latin America and the Caribbean 2025,” in which it will offer a detailed analysis of the year’s results with new perspectives for 2026.

 

 

 

T&T / Venezuela differences: Provocative speech can stymie investment

2025, 10/29

Despite escalating geopolitical friction between T&T and Venezuela, Professor Emeritus Anthony Bryan claims investor confidence remains fundamentally intact.

His perspective offers a counterweight to alarm among business leaders, who warn that recent developments could destabilise investment sentiment and jeopardise key economic sectors. Bryan dismissed concerns that abrupt suspension of the Dragon gas agreement by Venezuela and diplomatic fallout from the docking of USS Gravely would have lasting consequences. However, short-term hesitation is possible.

“Business is business. These events don’t affect investor confidence in the long term…Politicians say crazy things all the time. Sometimes they have a short-term effect. But in the final analysis, economics always trumps politics, regardless of what they say. I believe economics always survives.

“You might see an immediate dip in investment profile— investors may hold back for a few days, weeks, or even months until the situation becomes clearer. But that doesn’t alter their long-range objectives.”

Unease is rooted in developments that cast a shadow over regional economic stability.
Foremost is the suspension of all energy agreements between T&T and Venezuela, action that disrupts energy cooperation and highlights T&T’s vulnerability to regional volatility.

Arrival of the USS Gravely for joint military exercises, condemned by Venezuela as provocative, further inflamed diplomatic sensitivities and amplified investor concerns.

Greater San Fernando Chamber of Commerce (GSFCC) president Kiran Singh noted that escalation in tensions could dampen investor and business confidence if the situation worsens or persists.

He cautioned that any sign of cross-border hostility with a large neighbour like Venezuela, raises fears about regional security and political uncertainty. Heightened tensions could erode confidence in other sectors such as infrastructure, logistics, IT and AI,which depend heavily on foreign capital and long-term investment.

Acknowledging that Venezuela’s suspension of gas contracts is regrettable, Singh was cautiously optimistic it would not significantly derail T&T’s energy plans in the short to medium term as the contracts are not currently income-generating, after T&T paid millions of USD in royalties and other charges.

He reiterated the Government’s stance that T&T’s energy security and economic future do not depend on any single external agreement. Suspension of the Dragon project reinforces the importance of pursuing a diversified energy strategy, that includes maximising deepwater gas production, accelerating renewable energy initiatives and strengthening partnerships with trusted regional and international allies. This development highlights the broader need for economic diversification, which could become a more robust driver of foreign exchange.

Fyzabad Chamber of Commerce president Angie Jairam advocated for clear and calm communication, grounded in fact-based and timely updates on security, infrastructural changes and trade routes. She urged contingency planning to protect trade and energy sectors, continuous diplomatic engagement and practical mitigation strategies to reassure investors.

Key sectors such as finance, central bank, and investment institutions should communicate openly and reaffirm long-term continuity. Any sign of tension or a war of words could escalate unnecessarily, leading to uncertainty, loss of confidence and diplomatic rupture.

Chaguanas Chamber of Commerce offered a more tempered perspective. While it does not foresee any immediate threat to investor confidence, it acknowledged that sustained diplomatic strain could influence investment timelines and decision-making in sensitive sectors of trade and energy cooperation. Whenever there is uncertainty in regional relations, investors would obviously adopt a cautious approach as they assess potential implications for trade, energy cooperation and economic activity.

 

 

Devolution, Chacachacare for US Base after Caricom excuses Venezuela

2025, 10/28

Trinidad and Tobago must immediately withdraw from the Treaty of Chaguaramas and initiate CARICOM Devolution to offer USA the islet of Chacachacare for a Naval Base and Radar Station.

Free trade and regional agencies will not be affected and cooperation can continue. Excusing aggression of Venezuela confirms the epic betrayal by the bloc, exposing T&T to dangerous drugs, arms and migrants. (DAM).

T&T can now proceed to seek US protection from vile, pitiless terrorists and other miscreants. Opponents can repatriate to AU nations of origin or other Caricom states.

Prime Minister Kamla Persad-Bissessar portrayed Caricom as “unreliable ”, chosing to absolve Venezuela of differences with T&T over DAM. She emphasised the lack of regional support for her endorsement of US naval assets, a security umbrella in the Caribbean Sea.

“Caricom is proving to be an unreliable partner in some regards because they favoured Venezuela over Trinidad, something we need to remember. It is very clear that some Caricom partners have a different view about the zone of peace. There is no zone of peace in Trinidad and Tobago.

Maybe there is a zone of peace in Caricom neighbours further north. We are closest to the mainland and, of course, we are being hit, really seriously hit, with drug trafficking, gangs, cartels, human trafficking and gun running. That is not happening in their countries because they are not having 600 murders in a year.”

Port-of-Spain reserved its position on a Caricom statement claiming the region is a “Zone of Peace,” distinguishing T&T from other member states, all of whom supported the concept.

In response to surging regional tensions and the T&T position on foreign military presence, 10 former Caricom leaders, including Dr Keith Rowley, signed a rare joint declaration, “Our Caribbean Space: A Zone of Peace on Land, Sea and Airspace Where the Rule of Law Prevails.”

Persad-Bissessar maintained that the presence of the warship USS Gravely, does not mean T&T is being used as a military base, amid rising tensions between the US and Nicolas Maduro’s regime. She reaffirmed her camaraderie with the Venezuelan people.

“We are not being used as a base. We have had ships come here before, ships came now and ships will come after, because we have a history of cooperation with the United States, one of the largest nations, one of our largest trading partners and we have long-standing cooperation between the two countries.

So, I say categorically, we have no plans for Trinidad and Tobago to be used as a base for any military interventions anywhere else. There has been no such request from the US and instead requests for training and these militiamen could help us with projects at schools, or even dilapidated military bases in the country. So that is what this visit is about, military cooperation for training and for humanitarian benefits to the people of T&T.

We maintain that we have good relations with Venezuela. We stand in solidarity with the people of Venezuela.”

 Zone of Peace” refers to the proclamation by the Community of Latin American and Caribbean States (CELAC) in January 2014, declaring the region a “Zone of Peace”.

The Declaration of the 10 Heads avoids direct mention of the continental mainland, source of DAM in T&T –

On 18 October 2025 ex-Heads of Government of CARICOM discussed the security build up and the potential impacts on Member States. Save in respect of Trinidad and Tobago which reserved its position, ex-Heads agreed on the following:

1. 1. 1. They reaffirmed maintaining the Caribbean Region as a Zone of Peace and the importance of dialogue and engagement towards the peaceful resolution of disputes and conflict.
      2. CARICOM remains willing to assist towards that objective. They reiterated their continued commitment to fighting narcotrafficking and the illegal trade in small arms and light weapons which adversely affect the Region.
      3. They underscored that efforts to overcome these challenges should be through ongoing international cooperation and within international law.
      4. They reaffirmed unequivocal support for sovereignty and territorial integrity of countries in the Region and safety and livelihoods of people of the Region.

 

 

 

New Phantasmagoria

Offer Chacachacare to USA

October 29

Prime Minister Kamla Persad-Bissessar hinted at “significant realignment “ in how T&T interacts with its foreign partners.

Her government will focus on increasing linkages and co-operation with countries outside the region.

Her statement comes amid a geopolitical hurricane- the difference in opinion between the TT and Caricom heads on a “zone of peace” and the collateral fallout with Venezuela as a result of T&T support of the US military presence which resulted in the PM being identified as “persona non grata” and Venezuela suspending energy deals between the two countries.

Persad-Bissessar’s latest policy announcement to focus beyond the region is welcome to the vast majority who treasure T&T, inspiring optimism for its economic future.

TT Manufacturers Association CEO Dr Mahindra Ramesh Ramdeen sees her position as positive . He  noted three key facts: the Prime Minister’s statement in no way suggested that TT will no longer trade with the rest of Caricom, the Caricom market is still highly important to T&T manufacturing sector and if the sector wants to expand its footprint it will have to go beyond Caricom. TTMA was encouraged by statement, interpreting it as a call to the private sector to break out of its comfort zone.

“People are trying to dissect what the Prime Minister said to mean a bad thing. We at the TTMA view it as something positive. What she said was a fact – we need to push the envelope and find new markets to grow. If we grow more, it means we are producing more. If we are producing more, we can employ more, and earn more foreign exchange. We can’t do that by selling to Caricom alone.”

While the region continues to be a significant market for T&T products, he described the regional market as “saturated. It’s not that we are ignoring Caricom. It’ll be foolish for anybody to say I am going to stop selling to Caricom and look for new markets. That doesn’t make economic sense.

Caricom continues to be our number one trading destination for our non-energy exports and it continues to be a very significant market, but we need to penetrate new markets and diversify our portfolios.”

Noting the increasing uncertainty in the region because of the effects of climate change, Ramdeen said looking beyond Caricom also mitigates risk for manufacturers.

“Look at what this hurricane is telling us. With this hurricane hitting Jamaica, it is going to make a significant dent for exports into Jamaica. They may not be able to take as much as we would want them to, for the next two or three years because they will have to rebuild. Jamaica is one of our most significant markets in Caricom.

So what are we going to do, stop selling?

No, we have to continue to sell and find a replacement market for Jamaica. That doesn’t mean that we are going to ignore that market either. It is a very important market, so we are going to continue to sell to Jamaica, as much as they can buy from us.”

TTMA, with other chambers and the business community, are working with the government to provide support to Jamaica.

“We want Jamaica to make a recovery.. to rebuild. A healthy Jamaica means they could continue trading and we can both continue to do well, but Jamaica, like the rest of Caricom is a saturated market.”

He dismissed concerns that the geopolitical tensions in the region could affect trade between the private sectors.

“Whatever happens at the political level, at the private sector level we are going to continue to do what we have to do to ensure that manufacturers continue to grow and continue to be sustainable.”

TT business already looking beyond Caricom

Trading Economics, a known provider of economic data and forecasts, indicated that TT made about US$1.16 billion in exports to Caricom countries, with exports to Guyana amounting to US$415 million, Jamaica US$207 million, Barbados US$183 million and Suriname $ US$101 million. Conglomerates such as Ansa McAL, Agostini and Massy have decades-long footprints in Caricom.

Ansa McAL has been in Guyana for over three decades. Its Guyana subsidiary, Guyana Breweries Inc handles distribution of Carib Brewery products in Guyana. Ansa Motors Guyana operates automotive businesses and Ansa McAL Guyana has a pharmaceutical and healthcare distribution business.

In Grenada, the group operates a brewery which installed a new bottle washer function in 2023. It manufactures paints for the regional market out of Grenada. It has operations and presence in St Lucia, Antigua and Barbuda and in the Bahamas where it acquired a minority interest in a brewery.

Agostini Ltd, through s subsidiaries Acado Group and Aventa Group, distributes consumer goods through joint ventures in several Caricom countries, including Barbados and Guyana.

Describing Jamaica as one of the largest markets in the region, Agostini expanded its footprint in Jamaica. In 2023, it acquired pharmaceutical distributor Health Brands and earlier this year sought to acquire Massy Distribution (Jamaica). Massy has a significant reach in the region with Massy Stores, Massy Distribution, Massy Motors and Massy Gas products operating in Guyana, Barbados, Jamaica, St Lucia and St Vincent and the Grenadines.

Angostura invests in Barbados, Guyana and St Lucia, with plans to expand further.

However, despite a significant and long-standing presence in the region, these companies expressed plans to look beyond Caricom. In November 2024, Ansa McAL announced acquisition of US-based chlor-alkali producer Bleachtech LLC through subsidiary Ansa Chemicals US LLC. It expanded in India in the food and beverage industry, announcing in April that it partnered with Globus Spirits Ltd, a distinguished player in India’s alcoholic beverages industry, to produce Carib beer.

Last year, Angostura grew exports in international markets, with sales for 1919 rum increasing almost 25 per cent in France and an increase in sales of 3- and 5-year-old rums in Europe by 16 per cent in 2023.

Ramdeen said if T&T private sector is to grow in a similar fashion, businesses need to make similar moves.

“If we want to get the Angosturas of tomorrow, if we want more like that we now need to push the envelope and look beyond the Caricom market. I think there is a natural trajectory for growth.”

 

 

 

 

Caricom conundrum

24 October 2025

St Vincent- Grenadines is a Commonwealth realm, with King Charles III as Head of State of 10 islands. At the UWI Vice Chancellor’s Forum on October 21,  “Promises, Passports and Possibilities: Free Movement, the CSME and the Caribbean Regionalisation Project”, SVG Prime Minister, Dr Ralph Gonsalves questioned Caricom’s ability to coordinate a unified foreign policy, arguing that the bloc cannot even agree on what constitutes a “zone of peace”.

He opposed Trinidad and Tobago’s stance on a zone of peace, calling it a “misguided notion” that requires urgent rethinking. The term does not apply to traffickers in drugs, arms or migrants (DAM). He defined the principle – “A zone of peace refers to state actors agreeing not to intervene in or threaten one another. It’s a matter of international law.”

On September 26 T&T Prime Minister Kamla Persad-Bissessar told the 80th UN General Assembly, the region could no longer be a zone of peace due to the growing threat of transnational crime.

“The reality is stark – no such peace exists today.”

Gonsalves said confusion over the definition was evident in inconsistent responses by Caricom to tensions between the US and Venezuela. He warned that serious consequences, mass migration and security concerns will follow external actions for regime change in Venezuela. Refugees would continue to enter T&T, Guyana, Grenada and St Vincent, potentially creating a full-blown crisis.

“When there is war or conflict, it is not only good people who flee but bad actors who exploit the chaos. We are in difficult and troubling times. We need calm, patience and maturity in our judgments. We must return to first principles as practical statesmen and stateswomen.”

Urging deeper Caricom integration, Gonsalves reiterated the importance of the Caribbean Court of Justice (CCJ) in its original jurisdiction as the sole authoritative supranational body for interpreting Caricom law. It remains essential to the Caribbean Single Market and Economy (CSME).

Freedom of movement must come with contingent rights, including access to education and healthcare services which SVG provides to migrants “beyond the minimum requirements”.

He lamented Caricom’s agreement on limited rights for holders of the Caricom Skills National Certificate, despite full free movement between Barbados, Belize, Dominica and SVG from October 1. He denounced member states failing to implement the full range of rights, undermining regional integration.

He acknowledged reservations by Antigua and Barbuda on full freedom of movement, with nearly half its population is already non-Antiguan, presumably wealthy foreigners with citizenship by investment

“Countries trying to limit freedom of movement are making a mistake. They fail to understand we all face demographic challenges, a lack of skills and even general labour.”

On the right of establishment, Gonsalves said the system “works reasonably well” but SVG requires land licences for foreign nationals due to limited land space but does not prevent business operations.

Amid trade, currency and airspace disputes, he cited the lack of deeper regional trade integration and ongoing currency and payment challenges as major barriers to progress.

He noted difficulties in trade with T&T, where St Vincent faces significant challenges in obtaining USD for agricultural exports in return for over US$80 million in imports annually. He complained foreign exchange is available for luxury goods or foreign entertainers but not for regional agricultural imports.

“At one point, we exported up to USD20 million in agricultural goods to Trinidad. Now it’s under USD4 million. We are expected to accept TTD, useless unless we spend them in Trinidad. It’s a nightmare. There’s no foreign exchange for yams, dasheen, or sweet potatoes but you can get it for Camembert cheese or to pay Vybz Kartel US$900,000 to perform. It’s absolutely ridiculous.”

Gonsalves pointed to energy-price disparities, particularly T&T access to cheaper energy, which undermines fair competition in manufacturing. Guyana has similar energy advantages.

Citing Chapter 7 of the Revised Treaty of Chaguaramas, he urged more focus on special and differential treatment for disadvantaged countries and sectors.

Caricom Development Fund remains underfunded due to non-payment by some member states. The Piarco Flight Information Region (FIR) is under T&T control.

“Trinidad manages that airspace from Port of Spain to St Kitts and collects all the revenue. We have no representation in its management. That airspace is our collective property. We need to address that properly.”

Unless unresolved issues are addressed, regional tensions will deepen and Caricom integration efforts will continue to stall.

SVG is replete with riches – fertile volcanic soil, lush forests, warm climate, sandy beaches and bays.

On August 18, 2025 Gonsalves revealed that new technology is being explored to revive the geothermal energy project . Discussions continue on expanding solar investments. Botanic Gardens established in 1765, claim to be the oldest in the hemisphere. In 1793 Capt. William Bligh introduced breadfruit trees, source of a staple food across the region. Bequia’s 17th-century sugar mill creates year-round jobs transforming seawater by evaporation for manufacturing Grenadine Wild Sea Salt , preserving the volcanic island’s minerals.

Citizenship by investment remains a future possibility as St Vincent and Grenadines SVG remains the only one of 6 sovereign states in the Organisation of Eastern Caribbean States (OECS) that does not offer a lucrative CBI programme. 5 islands offering Citizenship by Investment are Antigua-Barbuda, Dominica, Grenada, St Kitts- Nevis, St Lucia

 

 

Caribbean Development Bank & World Bank Agree on Projects in St Vincent and the Grenadines

OCTOBER 2, 2025KINGSTOWN

The Caribbean Development Bank (CDB) and the World Bank (WB),  with the Government of Saint Vincent and the Grenadines, determined priority actions to strengthen project implementation and ensure continued alignment with the country’s development agenda.

As part of the way forward, they agreed to streamline their portfolios for greater efficiency, deepen their partnership to maximise resources and assess local market conditions in light of the construction boom and the demand for skilled human resources. They committed to strengthening inter-ministerial coordination, building the capacity of Project Implementation Units, contractors and consultants and fostering internal reflection within both institutions to adopt a more client-focused, flexible and collaborative approach.

These agreements came out of the Country Project Portfolio Review, which convened senior government officials, CDB and WB representatives and key stakeholders to examine the status of jointly financed projects. The discussions highlighted national priorities in:

1. disaster risk management,
2. climate change adaptation,
3. resilient infrastructure,
4. education,
5. health systems
6. strengthening and economic diversification.

Lessons learned were shared from major initiatives such as:

1. the Volcanic Eruption Emergency Recovery,
2. Hurricane Beryl Emergency Resilient Recovery,
3. Port Modernisation,
4. Coastal and Marine Ecosystems Management and
5. the Caribbean Digital Transformation.

CDB Director of Projects (Ag.), Mr. L. O’Reilly Lewis, highlighted the significance of aligning investments with national development goals. “By working alongside the World Bank and the Government, CDB is ensuring that investments are both transformative and sustainable, tackling immediate needs while laying the groundwork for long-term growth.”

World Bank Director for the Caribbean, Ms. Lilia Burunciuc, underscored the depth of collaboration, stating, “This review highlights the strong collaboration between the Government, the World Bank, and CDB in addressing urgent recovery needs while advancing reforms that support resilience, innovation and opportunities for Vincentians.”

The Country Project Portfolio Review from September 8 to 12, 2025 included meetings at the Ministry of Finance as well as site visits and discussions between both Banks. Continued dialogue among CDB, WB and the Government is anticipated on priority development areas for the future.

Prime Minister Ralph Gonsalves of St Vincent and the Grenadines joined Mr. L. O’Reilly Lewis, Caribbean Development Bank (CDB) Director of Projects (Ag.) and representatives from CDB and the World Bank, for the Country Project Portfolio Review.

 

 

 

Grenada proposes boundary demarcation with Venezuela, St Vincent

2025. 10/11

Grenada proposed a commission to delimit the boundaries among Grenada, St Vincent and Venezuela.

The Grenada government is proposing a tri-lateral joint commission to be established with Venezuela and St Vincent and the Grenadines to guide the process for demarcating maritime boundaries.

Leasing property on land or sea would require the owner knowing the boundary.

“Grenada also started an initiative to delimit the maritime boundaries with Venezuela and with St Vincent and the Grenadines.

We completed the process with Trinidad and Tobago in 2012, we have never been clear on the boundary between Grenada and Venezuela and the boundary between St Vincent and Grenada,” said Nazim Burke, chairman of Grenada’s oil and gas Technical Working Group (TWG).

Burke, a former finance minister, providing an update on the TWG activities during a town hall meeting  said that Prime Minister Dickon Mitchell submitted the tri-lateral proposal to leaders of the two other countries.

“Our prime minister put forward a proposal to the President of the Bolivarian Republic of Venezuela and the Prime Minister of St Vincent for the establishment of a joint trilateral commission that will comprise ten people.

In essence there will be three people from each of the three countries and a chairman from another country that will guide this process and work towards the completion of the boundaries between our three countries.”

“It is a very important step because you cannot go about leasing out land without knowing where your boundary is, you cannot go about leasing out maritime space without knowing where your boundaries are.”

During the past six months TWG members have been holding discussions with relevant stakeholders, including Trinidad and Tobago and other companies, which conducted research and have spatial vector data in their possession about Grenada’s oil and gas.

“In September, Grenada and T&T agreed to extend their existing cooperation in the energy sector and announced plans to signing a data use agreement . Following talks in Port-of -Spain between Prime Minister Dickon Mitchell and Prime Minister Kamla Persad Bissessar, a joint statement noted that the two countries “ are desirous of continuing co-operation in the energy sector”.

In 2012, the two countries executed a framework agreement concerning energy sector co-operation for a 10-year period from September 3 that year “with automatic renewal pursuant to Article 10 of the agreement and therefore is still in force”.

T&T “will seek approval and communicate” to Grenada, the members of the Steering Committee for T&T “in the next three weeks, to activate discussions in the matter. Port-of-Spain will also collaborate with TWG to assist development of a regulatory framework for the petroleum sector in Grenada and extend technical staff to review the study and work of the consultant.”

 

 

Suriname

Chevron to begin drilling Korikori well

9 October 2025, Robert Stewart

Jack-up Noble Regina Allen will drill Korikori 1 exploration well, according to Staatsolie

Chevron this month will begin drilling its Korikori 1 exploration well offshore , according to state-owned oil company and market regulator Staatsolie. The well will be drilled 78 kilometres from the coast in the north-central part of offshore Block 5, in water depth of about 40 metres.

Chevron in July received a permit for the well from Suriname’s National Environmental Authority (NMA). The harsh environment jack-up Noble Regina Allen will drill the well and is scheduled to reach the block in the first half of October.

Drilling should take about 90 days. Noble in March announced a $17.7 million contract for the Noble Regina Allen, to begin in the fourth quarter of this year, though it did not name the operator at the time. That contract will run from October through December, according to the company’s fleet status report.

Block 5 covers about 2200 square kilometres and lies 45 to 82 kilometres offshore with water depths ranging from 30 to 60 metres. Chevron operates Block 5 with a 40% interest on behalf of partners Staatsolie subsidiary Paradise Oil Company on 40% and QatarEnergy with 20%.

Industry sources in February said that Chevron was readying the well for drilling in the fourth quarter. Chevron maintained that it will drill the exploration well in the fourth quarter. Chevron indicated in its second quarter earnings call that more exploration wells would be on the horizon for the US supermajor.

Chief executive Mike Wirth said he was “not happy with the results out of exploration over the last few years”, though he admitted his team had been “operating in a pretty narrow range” in its efforts.

Chevron would be “active in exploration” in Suriname, along with the US Gulf, West Africa, Egypt and Namibia. Chevron vice chair Mark Nelson said, “And as you look towards the end of this year, you’ll see us put down wells in Suriname, Namibia and Egypt in those frontier type of offerings.”

The Korikori 1 well, if successful, would add to Chevron’s South America portfolio, which includes 30% of the prolific Stabroek Block offshore Guyana, operated by US rival ExxonMobil. Chevron acquired the stake when it completed its merger this year with US independent Hess following an arbitration challenge, initiated by ExxonMobil and CNOOC , over Hess‘ stake.

Staatsolie announced in August that it was preparing for a new offshore licensing round in November.

 

Chevron Suriname Exploration to begin drilling Korikori-1 exploration well

09 October 2025

Staatsolie announced that Chevron Suriname Exploration is expected to begin drilling the Korikori-1 exploration well this month.

The well is located approx. 78 kms offshore, in the north-central part of Block 5 at a water depth of around forty meters. Block 5 is operated by Chevron (40%) in partnership with Paradise Oil Company (POC) (40%) and Qatar Energy (20%). It is located in the western part of Suriname’s shallow offshore area in the Suriname-Guyana Basin.

The block covers an area of approx. 2,200 sq km and lies 45 to 82 kms offshore, north of the Nickerie district. Water depths range between thirty and sixty meters.

Suriname’s National Environmental Authority (NMA) granted Chevron a permit for the drilling operations at the end of July 2025. Noble Regina Allen rig, expected to arrive in the first half of October, will drill the well. Drilling operations will last about 90 days and are intended to confirm the presence of hydrocarbons in the subsurface. Upon successful termination of the well operations and data acquisition, initial indication of quantity and quality of any hydrocarbon present can be estimated.

The rig will be supplied from Surinamese port facilities (shore base) including fuel and consumables. Personnel will be flown to the rig from Paramaribo, contributing to increasing opportunities for local entrepreneurs and suppliers of goods and services to participate in Suriname’s offshore oil and gas industry.

 

 

CDB Support Powers More Reliable, Sustainable Electricity Systems in Suriname

NICKERIE, Suriname

The Caribbean Development Bank (CDB / the Bank), in partnership with the Government of Suriname and N.V. EnergieBedrijven Suriname (EBS), marked a major milestone in Suriname’s ongoing power sector modernisation with the commissioning of two new substations in Nickerie. Located in Clarapolder and Van Pettenpolder, the substations are linked by a 12.6 kilometre (km), 33 kilovolt (kV) double-circuit transmission line under the CDB-financed Electricity System Upgrade and Expansion Project. The investment enhances reliability, stability, and resilience in one of the country’s most vital agricultural districts.

At the commissioning ceremony on October 3, Mr. William Ashby, Division Chief (Ag.), Economic Infrastructure Division, CDB, commended the collaboration as key to project progress, stating:

“The Caribbean Development Bank, the Government of Suriname, and EBS have worked hand in hand to bring these substations in Nickerie to life. Together, we have transformed ideas into working infrastructure that will positively impact the lives of current and future generations in this district and across Suriname.”

He emphasised that strengthening energy security across the region remains a strategic priority for the Bank

“While renewable energy expansion through solar and other technologies often takes the spotlight, the modernisation of aging transmission and distribution infrastructure is equally vital. It supports the integration of renewables, enhances climate resilience, and ensures long-term functionality.”

The Nickerie substations, constructed by Kalpataru Power Transmission Ltd. under EBS supervision with technical oversight from Fichtner Consultancy, represent a vital upgrade to the district’s network. The newly built Van Pettenpolder Substation and the upgraded Clarapolder facility, equipped with three 25 Megavolt Ampere (MVA) transformers, will significantly reduce power losses, minimise outages and expand capacity for households, agriculture, and commerce.

Ms. Nisha Kurban-Baboe, District Commissioner of Nickerie, expressed gratitude to CDB for its support. “This project is not merely an investment in infrastructure but an investment in the future of sustainable development in Nickerie.”

The advancements in Nickerie form part of a wider national grid modernisation effort supported by CDB. Additional project achievements include construction of 6 new 110 kV substations and transmission infrastructure in Paramaribo. It also features a 2 megawatt (MW) solar power plant in Nickerie and a 300 kilowatt (kW) solar power plant in Coronie.

Together, these efforts are reducing reliance on diesel, lowering emissions and strengthening the foundations for a cleaner, more sustainable energy future. This milestone underscores CDB commitment to advancing resilient, inclusive, and sustainable infrastructure that drives growth and improves lives across the region.

Caribbean Development Bank team members attending commissioning of 2 new energy substations were Mr. Hopeton Peterson, Operations Officer, Environmental Sustainability Unit; Mr. Videsh Kissoon, Sustainable Energy Specialist, Economic Infrastructure Division; Ms. Kendra Butler, Operations Officer, Social Sector Division; and Mr. William Ashby, Division Chief (Ag.), Economic Infrastructure Division.

 

 

Jamaica

United Oil and Gas results for half year ending 30 June 2025

29 September 2025

AIM-listed United Oil & Gas, the oil and gas company with a high impact exploration asset in Jamaica and a development asset in the UK announced its unaudited results for the period ending 30 June 2025. Brian Larkin, United Chief Executive Officer commented:

‘The first half of 2025 has been about strengthening the foundations for value creation at Walton Morant.

In March, the early two-year licence extension to January 2028 was a critical milestone, giving us the certainty and running room needed to drive farm-out discussions forward. For shareholders, it provides a clear pathway for value to be unlocked across one of the few billion-barrel frontier opportunities still available globally.

The Walton Morant licence is exceptional in scale and quality and spans 22,400 km² with over 40 identified leads and prospects and unrisked potential of c. 7 billion¹ barrels. Eleven prospects already independently certified hold 2.4 billion barrels. Combined with highly competitive fiscal terms, strong government support, and breakeven metrics around $25/bbl² in a success case, these attributes make Walton Morant a standout frontier opportunity.

This is reflected in renewed sentiment across the sector and, importantly, in the engagement of potential farm-in partners, who continue to review and evaluate the licence under NDA, a clear sign of momentum in the farmout process.

Alongside this, we have made tangible progress on permitting. Post period end, during Q3, we received both the Environmental Permit and the Beach Licence which were approved by the National Environmental and Planning Agency (“NEPA”) marking key steps in operational readiness.

On the corporate side, during January we completed the equity placing announced in December 2024, receiving the final tranche of £315,000 and issued 350,000,000 warrants at £0.0015 expiring 31 December 2025.

In May we raised further funds totalling £140,000 at market with an existing shareholder and subsequent to this between May and June, shareholders exercised a total of 48 million warrants raising £55,500.

We also extended the £0.0028 warrants due to expire on 30 June 2025 until 31 December 2025. Post period end, a further 5 million £0.0015 warrants were exercised, and we successfully raised gross funds of £800,000 at £0.0018, which was approved at the AGM on 25 July.

This placing was oversubscribed and shows the strength of support from our shareholders which we greatly appreciate. Post-period end, the recent findings of the independent risking study were highly encouraging, confirming that a positive survey result in the Walton and Morant Basins could significantly derisk the offshore petroleum system already proven onshore. Importantly, the study highlighted substantial uplifts in drilling success probabilities:

Colibri: Improved from 1-in-5 (19% GCA) to 1-in-3 (32%)
Oriole: Improved from 1-in-8 (13% GCA) to 1-in-5 (21%)

These positive results reflect the broader potential across the Walton Morant licence if piston coring confirms a mature source rock and the presence of migrated hydrocarbons.

Overall, the first half of 2025 has been highly progressive, with notable momentum clearly building on the Jamaican licence.

The Walton Morant Risking Report will add significant value to our farmout efforts while permitting milestones demonstrate operational readiness. As we move into the latter part of the year, our focus remains on advancing work programmes across Jamaica and continuing to make steady progress on farmout discussions.’

Outlook

‘We enter the second half of the year with real momentum. Our priority is to secure a farm-out partner for Jamaica while continuing to advance planning and permitting so the licence is ready for operations.

The new Risking Report underlines the scale of the opportunity and shows how further technical work can materially de-risk the basin. With potential partners reviewing the licence data under NDA and discussions ongoing, we are confident that Walton Morant is positioned to deliver transformational value for our shareholders.’

Source: United Oil & Gas

 

 

United Oil & Gas announces publication of Piston Core Presentation – Walton-Morant Licence

Jamaica
10 October 2025

AIM-listed United Oil & Gas, the oil and gas company with a high-impact exploration asset in Jamaica and a development asset in the UK, has announced that a Piston Core Presentation has been published on the Company’s website. [Link]

This presentation outlines the scope and objectives of the upcoming piston coring and surface geochemical survey on the Walton Morant licence, and its importance in advancing technical understanding and supporting ongoing farmout discussions.

Key highlights include:

1. 1. 1. Overview of licence scale and potential
      2. Summary of recent progress and next steps
      3. Objectives and methodology of the piston core survey
      4. Introduction to survey operator TDI Brooks International Limited
      5. Key findings form the independent Iapetus Geoscience Risking Review

The presentation can be accessed at:   https://www.uogplc.com/investors/presentations/

Brian Larkin, CEO of United Oil & Gas, commented:

This presentation outlines the next key milestone for United as we prepare to commence the piston coring survey. The programme will involve collecting around 40-60 shallow seabed cores to test for thermogenic hydrocarbons, direct evidence of a working petroleum system within the Walton Morant Basin.

This is a significant step forward realising the potential of the licence and strengthening our position in ongoing farmout discussions.

We remain focused on unlocking value for our shareholders. With several parties under NDA, farm-out discussions are continuing, and the insights gained from the piston core survey are expected to further enhance our position.

We encourage all investors to review the updated presentation to appreciate the scale and potential of the opportunity we are pursuing.’

Source: United Oil & Gas

 

 

 

Jamaica

United Oil & Gas signs vessel MOU for Jamaica Survey

Programme on track for Q4

09 October 2025

AIM-listed United Oil & Gas, the oil and gas company with a high-impact exploration asset in Jamaica and a development asset in the UK, signed a non-binding Memorandum of Understanding (‘MOU’) with TDI Brooks International, a global leading provider of geotechnical and geochemical survey services with over 29 years’ experience, to secure a specialist survey vessel for the planned piston coring and surface geochemical programme on the Walton Morant Licence, offshore Jamaica.

Highlights:

MOU signed with TDI Brooks International to secure vessel for Q4 2025 piston coring and surface geochemical survey

1. 1. 1. Programme to collect 40-60 seabed cores across the Walton and Morant Basins, alongside bathymetric, multibeam and heat-flow surveys
      2. Field operations expected to last 2 to 3 weeks, with mobilisation planned for Q4 2025
      3. Execution during this window enables material cost savings, as the TDI Brooks vessel will transit via Jamaica en route from Trinidad
      4. Critical de-risking step supporting ongoing farm-out discussions and shareholder value creation

Survey Scope and Schedule

1. The piston coring and surface geochemical campaign, to be undertaken by TDI Brooks International, forms a key part of United’s forward work programme under its extended licence to January 2028.
2. The survey will involve collection of 40-60 seabed core samples across the Walton and Morant Basins, accompanied by bathymetric, multibeam echo-sounding and heat-flow surveys.
3. Data will be analysed for geochemical and thermal signatures to confirm the presence of thermogenic hydrocarbons, assess source rock maturity, and refine basin modelling materially enhancing the definition of key prospects, including Colibri and Oriole.
4. Following formal contract execution, expected to take place shortly, TDI Brooks will mobilise the vessel later this quarter.

Field operations are expected to last for 2 to 3 weeks, with completion anticipated within a short operational window and initial analytical results expected in late Q4 2025 to early Q1 2026.

Timing and Strategic Rationale

The decision to secure a vessel now reflects both operational importance, market dynamics and shareholder value creation.

There is currently strong regional demand and limited vessel availability as survey assets mobilise toward other Caribbean work programmes. United’s agreement with TDI Brooks ensures access to a suitable vessel that is transiting via Jamaica en route from Trinidad, enabling the Company to complete the programme efficiently within this specific window and realise significant mobilisation and demobilisation cost savings.

Delaying the survey beyond this slot would risk higher costs, loss of vessel availability, and schedule slippage into 2026. Acting decisively allows United to execute the programme efficiently and under favourable logistical conditions and within its 31 March 2026 Beach licence renewal date.

In addition, a successful survey will increase the exploration chance of success across the acreage and thereby increase project value for shareholders. As outlined in the recently published Risking Report on our website, a success case would substantially enhance the chance of exploration success across the Walton Morant basins, with Colibri improving from 19% to 32% and Oriole from 13% to 21%.

This uplift would represent a step change in predrill confidence, providing both a material value trigger for shareholders and a strong platform for ongoing farmout discussions. By executing the piston core programme directly, United can accelerate technical validation ahead of any potential farm out discussions.

Further updates will be provided in due course as we move towards final vessel selection and execution of the binding agreement for the vessel.

Brian Larkin, Chief Executive Officer of United Oil & Gas, commented:

‘Securing the vessel agreement with TDI Brooks is a decisive move that takes United from preparation into execution.

The piston coring and geochemical survey will deliver vital new data to confirm the presence of hydrocarbons and materially de-risk the Walton Morant Basin.

With a short operational window and high regional demand for vessels, it was essential we moved now to secure capacity. This programme represents a pivotal value catalyst for United and we strongly anticipate it to strengthen our technical position, accelerate farm-out discussions and demonstrate our commitment to driving tangible shareholder value through disciplined, timely execution.’

Source: United Oil & Gas

 

 

Caribbean Maritime University

October 6th 2025

Former Trinidad and Tobago minister, Devant Maharaj proposed applying a blue tax to all foreign cruise lines and foreign shippers using Caribbean ports during a conference at the Caribbean Maritime University.

The funds would be allocated to Caricom efforts to protect marine ecosystems from pollution. Maharaj cited alarming figures, stating that 795,000 tonnes of raw sewage and 8 tonnes of raw garbage are dumped weekly into the ocean, with 85% of untreated sewage coming from cruise liners.

He insisted the funds must go to a centralized Caricom account, not individual islands, to ensure the money is specifically used for marine protection rather than being diverted to other projects.

Logistics strategist Dr. Eric Deans highlighted that the Caribbean Basin controls 20% of global shipping tonnage through “flags of convenience,” giving the region significant leverage to enforce sustainable practices. He warned that the region often surrenders this power by ceding control of ports to foreign operators.

Experts noted that existing port concessions, such as the Kingston Freeport Terminal in Jamaica, often lack specific clauses on sustainability, meaning private companies prioritize profit over environmental care unless mandated.

Maharaj, who served as T&T Minister of Transport and later as Minister of Food Production, also argued that the deeper issue is the Caribbean’s tendency to “act as silos,” adopting global conventions like those from the IMO but failing to unite to set strong standards for the rest of the world to follow.

The discussion concluded with a call for a wider definition of sustainability that includes environmental, social and economic components, arguing that true sustainability will only be achieved with economic self-sufficiency.

Despite the policy and political shortcomings, the discussion noted that some private companies, like Campari Group Jamaica, are embedding ESG (environmental, social, and governance) practices into their procurement rules, using their scale to influence carrier operations.

The Kingston, Jamaica-based Caribbean Maritime University (CMU) is the premier tertiary institution for maritime education, training, research and consultancy in the Hemisphere. It plays a vital role in developing skilled professionals for the maritime, logistics and supply chain sectors regionally and globally.

It was established in 1980 through a joint project between the Governments of Jamaica and the Kingdom of Norway. It began as the Jamaica Maritime Training Institute, rebranded as the Caribbean Maritime Institute,and finally gained university status to become CMU in 2017.

 

 

 

Challenger Energy

9 October 2025

Sintana Energy reached agreement with Challenger Energy Group on the terms of an all-share acquisition pursuant to which Sintana will acquire all of the issued and to be issued ordinary share capital of Challenger, an oil and gas exploration company that is publicly listed on the AIM market of the London Stock Exchange (‘AIM’).

Challenger is focused on offshore Uruguay, holding interests in two blocks, being AREA OFF-1 (40% working interest, Chevron holds a 60% working interest and is the operator) and AREA OFF-3 (100% working interest and operator).

Challenger is the only ‘junior’ with a significant offshore position in Uruguay and the broader region and also holds legacy assets in The Bahamas.

Under the terms of the Acquisition, Challenger shareholders will receive approximately 0.4705 common shares of Sintana for each Challenger ordinary share held. Based upon the closing price of Cdn$0.66 per Sintana Share on the TSX Venture Exchange (‘TSXV’) on October 8, 2025, and the £/Cdn$ exchange rate of 1.87 as at October 8, 2025, the Acquisition represents an implied value of 16.61 pence per Challenger Share (approximately Cdn$0.3105 per Challenger Share), valuing the entire issued and to be issued share capital of Challenger at approximately £44.72 million (or approximately Cdn$83.63 million) on a fully diluted basis.

The terms of the Acquisition represent a premium of approximately:

1. 1. 44% to the closing price of 11.5 pence per Challenger Share on October 8, 2025;
   2. 97% to the volume weighted average price of 8.41 pence per Challenger Share for the three-month period ended on October 8, 2025; and
   3. 96% to the volume weighted average price of 8.48 pence per Challenger Share for the six-month period ended on October 8, 2025.

Immediately following completion of the Acquisition, it is expected that Challenger shareholders will own approximately 25% of the issued share capital of Sintana (based on the existing issued common share capital of Sintana and the fully diluted ordinary share capital of Challenger as at October 8, 2025).

The Acquisition is a ‘significant acquisition’ for Sintana under Canadian securities laws and Sintana will file the applicable business acquisition report pursuant to National Instrument 51-102 in due course.

In connection with the Acquisition, Sintana intends to seek admission of the Sintana Shares to trading on AIM in the fourth quarter of 2025. Sintana will now commence the process of obtaining such admission, including the publication of an admission document. Obtaining the Admission is not a condition to the completion of the Acquisition.

The independent directors of the board of Challenger intend to recommend unanimously that Challenger shareholders vote in favour of the Acquisition and Sintana has received irrevocable undertakings from certain of Challenger’s shareholders (including directors) to vote their Challenger shares in favour of the Acquisition representing, in aggregate, approximately 34.2% of Challenger’s issued ordinary share capital as of October 8, 2025. Completion of the Acquisition is subject to customary regulatory, stock exchange and Challenger shareholder approvals and is expected to close by the end of the fourth quarter of 2025.

Highlights

The combination of Challenger and Sintana is expected to create a leading exploration platform spanning the Southern Atlantic conjugate margin, with a combined portfolio offering high-impact exposure to 2 of the world’s currently most active and emerging hydrocarbon exploration geographies with a diversified portfolio of licences at various levels of maturity, underpinned by partnerships with majors that provide significant financial and operational support to reach material milestones. Specific highlights include:

1. Interests in eight licences in two countries, Namibia and Uruguay, (as well as legacy assets in The Bahamas and Colombia) providing diversified exposure to a range of geologic plays, basins, operators, regulators and geopolitical regimes;
2. A portfolio anchored by an interest in the discoveries at Mopane together with an expanded horizon of additional high-impact exploration catalysts;
3. A combined Board and management team with deep sector expertise and commercial capabilities, offering genuine competitive advantage; and
4. A larger, more diversified entity with significant carry support on key licences, immediate cash resources in excess of US$10 million, and an improved capacity to access funding as and when required or opportune, to fully prosecute the existing portfolio and grow the business.

Robert Bose, Chief Executive Officer of Sintana, commented: ‘The combination of Sintana and Challenger delivers on our long-term strategy to create and execute on a portfolio of exposures to high impact exploration opportunities.

Expanding our aperture to capture the promise of the Atlantic margin from Namibia and Angola to Uruguay with a diversified portfolio of development stage and exploration assets creates a market leader positioned to deliver significant success.’

The Acquisition

Challenger’s area of focus is exploration activity offshore Uruguay, where Challenger has an interest in two blocks: AREA OFF-1 (40% working interest, Chevron holds a 60% working interest and is the operator) and AREA OFF-3 (100% working interest and operator). Combined, these represent a total licence holding of approx. 27,800 km2 (net to Challenger approximately 19,000 km2), making Challenger one of the largest offshore acreage holders in Uruguay and the only ‘junior’ with a position in offshore Uruguay and the broader offshore region (including northern Argentina and southern Brazil).

AREA OFF-1

AREA OFF-1 is a large block covering approximately 14,557 km2 and located approximately 100 – 150 km offshore Uruguay in relatively shallow water depth (50 to 800 metres). The licence contract was signed in May 2022, with the initial four-year exploration period commencing on 25 August 2022. In late 2022, in view of growing industry interest in Uruguay’s offshore, Challenger made a decision to accelerate and expand the work required to be completed on AREA OFF-1 during the ?rst four-year exploration period. In doing so, three material prospects with signi?cant resource potential were identifed and delineated. These prospects were named Teru Teru, Anapero and Lenteja.

On 6 March 2024, following a formal process, Challenger entered into a farmout agreement with a subsidiary of Chevron for the AREA OFF-1 block.

On 29 October 2024, following obtaining of the required approvals from the Uruguayan regulatory authorities, the farmout took legal effect. The key terms of the farmout agreement are

• (i) Chevron acquired a 60% participating interest in the AREA OFF-1 block, and assumed operatorship,
• (ii) Challenger retained a 40% non-operating interest in the block,
• (iii) upon completion, Challenger received a cash payment of US$12.5 million from Chevron,
• (iv) Chevron will carry 100% of Challenger’s share of the costs associated with the 3D seismic campaign on the AREA OFF-1 block, up to a maximum total programme cost of US$37.5 million (up to US$15 million net to Challenger), and
• (v) following the 3D seismic campaign, should Chevron decide to drill an initial exploration well on AREA OFF-1, Chevron will carry 50% of Challenger’s share of costs associated with that well, up to a maximum total well cost of US$100 million (up to US$20 million net to Challenger).

As at the current date, issuance of the prerequisite environmental permits for the proposed 3D seismic acquisition campaign over AREA OFF-1 is pending from the Uruguayan Ministry of Environment. Challenger expects the necessary permits will be issued to allow for seismic acquisition on AREA OFF-1 to start in late Q4 2025 or early Q1 2026.

In anticipation of permits being issued, various operators are already in discussions with seismic companies for planned surveys across the Uruguay offshore region. The goal is to sequence the 3D seismic programme timing based on weather, acquisition parameters and integrated operations seeking incident-free and efficient acquisition campaigns. The parties associated with AREA OFF-1 (operator Chevron and Challenger) are working collaboratively in this process with ANCAP.

AREA OFF-3

AREA OFF-3 is a large block covering an area of 13,252 km2 and located approximately 75 to 150 km offshore Uruguay in relatively shallow water depths (25 to 1,000 metres).

Challenger bid for the block in May 2023 and was awarded the licence in June 2023. Subsequently, the licence contract was signed on 7 March 2024, with the initial four-year exploration period commencing on 7 June 2024. Challenger holds a 100% working interest in and is the operator of the block.

The licence for AREA OFF-3 provides for a modest work commitment in the initial four-year exploration period, comprising of reprocessing 1,250 km2 of legacy 3D seismic data and undertaking two geotechnical studies.

There is no drilling obligation in the initial four-year exploration period. However, similar to AREA OFF-1, Challenger’s plan during the initial four-year exploration period is to accelerate and expand the technical work programme.

The first phase of Challenger’s technical work programme for the AREA OFF-3 block has been completed, consisting principally of reprocessing, interpretation and mapping of 1,250 km2 of 3D seismic data, supplemented by a number of ancillary technical work streams. That technical work programme identified and delineated two primary prospects with material resource potential, which have been named Benteveo and Amalia.

With the first phase of the technical work programme completed, Challenger has initiated a formal farmout process for the AREA OFF-3 block, which is ongoing as of the date of this announcement.

It is expected that the initial phase of this process will see parties invited to undertake technical and commercial due diligence on the asset, and Challenger will likely be seeking initial offers by year-end, with a view to selecting a suitable partner during the first quarter of 2026.

Other Assets

Challenger held, until recently, a 100% working interest in, and was the operator of 3 producing fields onshore Trinidad.

On 18 February 2025, Challenger entered into a transaction for the sale of all of Challenger’s assets, business and operations in Trinidad and Tobago to Caribbean Rex Limited. That transaction was completed on 29 August 2025.

Challenger has thus far received approximately US$750,000 in cash proceeds from the sale, with a further US$1 million due by the purchaser in three equal instalments due at consecutive year ends (US$500,000 on 31 August 2026, US$250,000 on 31 December 2026, and US$250,000 on 31 December 2027).

Since 2008, Challenger has held four exploration licences offshore The Bahamas, which have been renewed through two successive exploration periods. In the first exploration period Challenger undertook extensive 3D seismic acquisition on the licences and in the second exploration period, the Perseverance-1 exploration well was drilled in the licence area.

The Perseverance-1 well did not result in a commercial discovery, but Challenger believes that the results of that well validate the presence of a working petroleum system in The Bahamas, and support Challenger’s view as to the overall prospectivity of the licence area in The Bahamas. The second exploration period of Challenger’s Bahamian licences expired on 30 June 2021.

In March 2021, consistent with the terms of the licences, Challenger applied to the Government of The Bahamas to renew the licences for a third exploration period. The Government of The Bahamas has not yet responded to this application and, given the length of time that has passed since the application was made, Challenger is presently exploring alternative means of monetising the value of its historic investment in The Bahamas, including considering legal remedies available against the Government of The Bahamas.

Financial Information

As indicated in Challenger’s half-year report for the period to 30 June 2025, published on 3 September 2025, Challenger’s cash position as at 30 June 2025 was approximately US$6.6 million, not including US$0.7 million in restricted cash holdings, and not including US$1.75 million in proceeds due to Challenger from the sale of its business in Trinidad and Tobago.

Following the sale of the business in Trinidad and Tobago, Challenger has no income-producing assets. As noted in the half-year report, Challenger’s overhead ‘burn’ rate and future capital needs are such that Challenger expects to be fully funded for all planned activities for the balance of 2025, all of 2026, and well into 2027, without the need for any additional capital.

Approvals

The Acquisition is intended to be effected by means of a scheme of arrangement under Part IV (sections 152 to 154) of the Isle of Man Companies Act 1931 (the ‘Scheme’). The Scheme is subject to the Conditions and terms set out in Appendix I of the Rule 2.7 Announcement (as defined below) which includes, amongst other things:

1. the approval of the requisite majority of Challenger shareholders;
2. the sanctioning of the Scheme by the Court, followed by delivery to and registration of an office copy of the Court Order by the Companies Registry;
3. the receipt of conditional approval of the Acquisition by the TSXV;
4. the receipt of conditional approval of Admission by the TSXV, if applicable;
   1. 1. ANCAP having provided its written consent to the Acquisition under the terms of the ANCAP Licences, in a form and subject to conditions (if any) that are reasonably satisfactory to ANCAP;
      2. an exempt transaction notice having been made and accepted (or otherwise not objected to) by Chevron under the terms of the Chevron JOA; and
      3. confirmation having been received by Challenger of the approval by the Minister responsible for petroleum in the Bahamas and the Exchange Control Department of the Central Bank of The Bahamas, if required pursuant to section 19 of the Petroleum Act and Petroleum Regulations of The Bahamas.

In accordance with Rule 2.7 of the UK City Code on Takeovers and Mergers (the ‘Code’), a firm offer announcement (“Rule 2.7 Announcement”) has been published and is accessible on Sintana’s website (https://sintanaenergy.com/investor/business-combination-disclosure/).

This news release should be read in conjunction with, and is subject to, the full text of the Rule 2.7 Announcement (including its appendices).

The offer will be subject to the conditions and certain further terms set out in the Rule 2.7 Announcement and to the full terms and conditions to be set out in the Scheme document to be published in due course. Capitalized terms used but not otherwise defined herein shall have the meaning given to them in the Rule 2.7 Announcement.

Board and Management

Upon completion of the Acquisition, it is intended that Eytan Uliel (the current Challenger Chief Executive Officer) will be appointed President and executive director of Sintana, and Iain McKendrick (the current Challenger Non-Executive Chairman) will be appointed as a non-executive director of Sintana.

It is also intended that upon closing, existing Sintana Executive Chairman, Keith Spickelmier, will transition to the role of Non-Executive Chairman;

1. existing Sintana non-executive directors, Doug Manner and Knowledge Katti, will continue in their current roles; existing Sintana non-executive directors, Bruno Maruzzo and Dean Gendron, will resign from their positions;
2. Robert Bose, existing Sintana Chief Executive Officer (and currently a director of Challenger) will continue in his role with Sintana;
3. Jonathan Gilmore, currently the Finance Director of Challenger, will assume the role of Chief Financial Officer of Sintana;
4. David Cherry, currently the Chief Operating Officer of Sintana, will cease his employment with Sintana; and
5. Doug Manner, currently President of Sintana, will cease his employment in that capacity but shall continue on as a non-executive director of Sintana.

Loan Agreement

In connection with the Acquisition, Sintana has entered into a loan agreement with Charlestown, a shareholder in Sintana and Challenger, pursuant to which Charlestown has agreed to provide Sintana with a working capital facility of US$4 million from the closing of the Acquisition.

The Facility can be terminated by Sintana at any time by giving not less than 20 business days’ prior written notice to Charlestown. The provision of the Facility is conditional upon the receipt of approval of the TSXV.

Advisors

In connection with the Acquisition for Sintana, Cavendish Capital Markets Limited is acting as joint financial advisor, Pareto Securities AS is acting as joint financial advisor, and Zeus Capital Limited is acting as nominated advisor with respect to the Admission. Pinsent Masons LLP is acting as UK legal adviser and Fogler, Rubinoff LLP is acting as Canadian legal adviser to Sintana.

ABOUT SINTANA ENERGY:

The Company is engaged in petroleum and natural gas exploration and development activities in five large, highly prospective, onshore and offshore petroleum exploration licenses in Namibia and in Colombia’s Magdalena Basin. Sintana’s exploration strategy is to acquire, explore, develop and produce superior quality assets with substantial value added potential.

Source: Sintana Energy

 

 

 

EU and Caribbean Export Launch BRIDGE Facility to Accelerate SME Growth

Caribbean Export Development Agency (Caribbean Export), backed by the European Union’s Global Gateway initiative, launched the Building Resilient Innovation for Digital & Green Enterprises (BRIDGE) facility.

The programme offers co-financing of up to EUR 100,000 to help micro, small, and medium-sized enterprises (MSMEs) transition to more sustainable and digitally competitive business models.

BRIDGE is designed to strengthen the resilience and competitiveness of MSMEs across CARIFORUM by addressing two of the most urgent priorities for the region’s private sector: green transition and digital transformation. Through two dedicated streams, MSMEs can access funding support to accelerate their growth:

1. Green Transition – The European Union will co-finance up to EUR 100,000 (60% of project costs) for projects in renewable energy, sustainable agriculture, circular economy, blue economy, and green services and technologies.
2. Digital Transformation – The European Union will co-finance up to EUR 50,000 (60% of project costs) for initiatives in e-commerce, business process automation, cybersecurity, digital products, and supply chain digitization. stakeholders to strengthen the region’s overall investment landscape.

 

 

 

Guyana Listing of state shares with guaranteed returns on private stock exchange

October 3, 2025

Vice President Dr Bharrat Jagdeo says the government can explore listing of shares from lucrative government projects that will guarantee investors a return and inject life into Guyana’s private stock exchange. This is one way the government can create trading volume and encourage private businesses to overcome their reluctance to go public.

The existing stock exchange is privately-owned, even though the government appointed its regulatory body, the Guyana Securities Council .

The main challenge is “A lot of private companies don’t use the exchange because going public means they have to publish their records, their audited statements… Some people don’t want that type of scrutiny.”

Companies must pay a listing fee, which kept major local players off the exchange. Because the government cannot force companies to list publicly, he suggested the government can use strategic state assets to spur creation of trading activity and opportunities.

This involves “siphoning off” high-return opportunities from the oil and gas sector, for example, the Fertiliser Plant. The government had announced that it would build a fertiliser plant following the completion of the Gas-to-Energy (GTE) project being developed in Wales, Region Three.

The plan is to create a company for the Fertiliser Plant that can allow ordinary citizens (teachers, nurses, and fishermen) to buy shares, perhaps limited to 100 shares per person. The government will then guarantee a 10 per cent return on those shares, underwriting the guarantee to provide a “sweetener” to investors. These will then be listed publicly on the stock exchange “so that people can then sell.”

Ultimately, the success of the stock exchange relies on the private sector recognising its value as an alternative to bank loans. President Dr Mohamed Irfaan Ali had announced that the government will create a Junior Stock Exchange as part of a efforts to deepen the financial sector and diversify investment options.

VP Jagdeo said, “he (President Ali) was hoping that the private sector would also make full use of the opportunity. We are prepared to address any regulatory matter that would enable this to happen. We are prepared to create the incentive for this to happen. But then it’s up to the private sector to make use of it.”

A stock exchange is essentially a regulated market where shares of publicly listed companies are bought and sold, providing an avenue for businesses to raise money and for investors to make gains.

 

 

 

First offshore solar installation planned near Fort-de-France

October 6, 2025, by Zerina Maksumić

The Grand Port Maritime of Martinique (GPMLM) partnered with French offshore solar developer SolarinBlue to develop Soley Blé, the first offshore floating photovoltaic (PV) project in the Caribbean Arc.

The project will be located near the Pointe des Grives container terminal in Fort-de-France Bay. As part of its energy transition strategy, GPMLM is expanding decarbonization efforts through collaboration with SolarinBlue.

“With Soley Ble, the Grand Port Maritime of Martinique is taking a decisive step towards carbon neutrality and energy innovation. By investing in cutting-edge solutions such as offshore floating solar, we are asserting our ambition: to make Martinique a sustainable port hub and a pilot territory for marine renewable energies in the Caribbean,” said Bruno Mence, Chairman of the Port’s Management Board.

The Soley Blé project is expected to have an installed capacity between 1 and 4 MWp. Once operational, it will strengthen the port’s energy autonomy, reduce its carbon footprint, and is expected to support operations at the container terminal.

“We are proud to support the Grand Port Maritime of Martinique in this pioneering initiative and to concretely contribute to the island’s energy transition,” added Aurélien Croq, CEO of SolarinBlue.

Technical, regulatory, and environmental studies are scheduled to begin this fall to define the project’s location and business model.

Founded in 2019, SolarinBlue develops offshore solar farms designed to withstand harsh marine conditions. In 2023, the company deployed Sun’Sète, the first offshore solar demonstrator in the Mediterranean, which reportedly withstood waves of up to 9 meters during testing.

SolarinBlue aims to expand globally, targeting ports, islands and co-located sites with offshore wind. Its technology is said to offer island regions an alternative to imported fossil fuels, providing clean, local power without using limited coastal land.

In March, researchers from Observatoire Océanologique de Banyuls-sur-Mer completed the first environmental sampling mission for the French renewable energy company SolarinBlue’s Méga Sète offshore floating solar project.

 

 

 

Global performer at risk

23 October 2025

In 2018 Ian Welch of Nutrien and NGC chairman Mark Loquan signed a gas sales agreement in , Port of Spain

Since Nutrien was formed in 2018, the Canadian-based provider of crop inputs and services, now identified as the largest upstream fertiliser producer in the world, has had a close relationship with TT.

However, the recent impasse between the company and state-owned energy company NGC, has put that lengthy history at risk, with the company resorting to a phased shutdown of operations in Point Lisas amid demands for arrears that were part of a $610 million bill racked up by companies using the port at Point Lisas.

The fate of the company and hundreds of workers is now balancing on a razor’s edge as Nutrien parleys with the state entity and struggles with a falling supply of natural gas.

TT is now on the brink of losing a partnership which helped put it on the map as a global performer in the petrochemical sector.

A history of performance

PCS, which acquired the assets of fertiliser and ammonia production company Arcadian Partners LP in TT in 1997, merged with Agrium Inc to form Nutrien. A press release on the merger between Arcadian and PCS in 2018 said the new company aimed to use its global retail distribution network, which at the time included more than 1,500 farm retail centres and operations and investments in 14 countries, to operate a world-class network of production, distribution and agricultural retail facilities aimed at effectively serving the needs of farmers.

TT’s role in Nutrien had great significance as its operations in Point Lisas made it a strategic location for serving markets in North and South America, Europe and Africa. TT’s access to natural gas also made it a key partner, as the company’s production is dependent on a steady supply of natural gas as a feedstock.

PCS has 4 plants, which, at the time of the merger, produced more than 160,000 metric tonnes of ammonia per month and exported most of what it produced. Despite the merger showing promise, Nutrien faced challenges in its production.

The year 2020 saw a general decline in natural gas production because of a reduction in demand owing to covid19 pandemic. This exacerbated TT’s decade-long downward trend in natural gas production.

In September 2020, Nutrien announced changes that would see the “indefinite closure” of one of its four ammonia plants.

This came after another plant was shut down in May, but restarted later that year.

Its 2024 annual report indicated that in 2023, Nutrien produced 1.11 million tonnes of ammonia and 0.32 million tonnes of urea, noting that in 2023, production was restricted due to natural gas curtailments. In 2024, production increased, reaching 1.27 million tonnes of ammonia and 0.47 million tonnes of urea.

The production of ammonia and urea fell significantly from its production at the time of the merger.

In its release about the phased shutdown, Nutrien said it was producing 85 and 55 thousand tonnes per month, respectively. However, Nutrien still continues to show its commitment to TT, including a US$130 million capital investment in 2024 for maintenance and facility upgrades.

Nutrien completed two major planned turnaround exercises at its urea plant and its largest ammonia plant, which vice president Edmond Thompson said would keep the plants running reliably for the next four to five years. During that exercise, the workforce was 1,600 people, with 1,000 temporary workers and 600 permanent workers.

The latest shutdown was announced on October 21, which will take effect on October 23. The announcement came after a statement from the National Energy Corporation (NEC), which said companies operating in its ports had arrears in the hundreds of millions.

NEC, a wholly-owned subsidiary of the National Gas Company of TT (NGC), said formal notices were issued to users with significant arrears, warning that failure to clear balances would result in the suspension of access to facilities.

NEC advised, as of October 1, it will accept payment of the service tariff for towage at the port in US currency only.

“As you are aware, the tariffs are quoted in United States dollars (USD), inclusive of the sum for the advanced deposit. However, in the past, agents have converted the said figures to TT dollars (TTD) and made payments in TTD. The new board of directors has given strict instructions that we are to accept payment in USD only.”

The letter was forwarded to operators at the port.

Business and energy chambers expressed concern over the developments at the port shortly after news of Nutrien’s shutdown.

The American Chamber of Commerce (Amcham TT) urged collaboration among stakeholders, while the Energy Chamber said the development underscores the importance of ensuring that TT remains an attractive, world-class destination for energy investment.

Couva Chamber of Commerce president Deoraj Mahase said the development could have a negative impact on the economy and the country as a whole. Shutdown could result in a loss of revenue, along with job loss.

“There should be some level of negotiation to address this matter and seek to avoid this shutdown. The negotiations can seek to find solutions to keep the plant operating and securing jobs while addressing any payment issues, outstanding or otherwise.”

He said it was possible that negotiations were underway between authorities and Nutrien and expressed a hope that an outcome would be realised for everyone’s mutual benefit.

Minister of Energy Roodal Moonilal confirmed on October 21 that National Energy Corporation is discussing contractual arrangements for the use of the port with Nutrien and other “downstreamers.”

“We are in ongoing discussions with Nutrien concerning port restrictions and port access and I expect that this matter will continue to occupy our attention. Those discussions are ongoing and we will have further updates in the coming days.”