Exxon to farm out 10% stake in ultra-deepwater Trinidad Block to Occidental Petroleum
May 26, 2026 Carl Surran, SA News Editor
Occidental Petroleum is set to acquire a 10% stake in Exxon Mobil’s ultra-deepwater exploration block offshore Trinidad and Tobago. Exxon has been the sole owner of the gigantic offshore block, UD(1), in water depths of 2K-3K meters and first acquired it in August 2025.
The Trinidad acreage borders the Stabroek block, where Exxon and its partners made over 30 discoveries, transforming Guyana into one of the fastest-growing oil producers.
Geological similarities between the two petroliferous Atlantic provinces prompted speculation that Trinidad deepwater could hold significant untapped resources, although exploration risk remains high at the current early stage. Exxon’s Trinidad country manager and business development manager and Occidental’s VP of international exploration met Trinidad and Tobago Prime Minister Kamla Persad-Bissessar and Energy Minister Roodal Moonilal, last week
Clearly Occidental expects significant upside from investment in the mammoth UD1 and this should spur T&T Energy Ministry to withdraw awards to CNOOC of highly prospective deepwater Blocks 24 and 25 ( TTDAA 24 and TTDAA 25), citing FORCE MAJEURE – PRC support of war in the Middle East and Europe and aggression in Asia.
After a positive report from Exxon on deepwater prospects, these 2 cancelled Blocks can be offered to Chevron/Exxon/BP/Shell to promote democracy under the Shield of the Americas as unscrupulous hegemons threaten security, grab ports, minerals and other assets in a quest for supremacy.
T&T does not need more spies, crooks, outlaws and gangsters posing as investors. After 2 centuries, potent, long-term democratic ally USA in the vanguard and cherished, indispensable democratic India in the rearguard can pull battered TT and CARICOM out of the nosedive into oblivion. Having signed onto the ACCC, T&T must energize cooperation for democracy and counter totalitarian influence, driving debt, espionage, fraud, anti-democratic behaviour and greed.
T&T is firmly in the USA camp where its future lies and must defend democracy in a West Indian Confederation with Guyana.
Staatsolie seismic survey of Suriname near-shore hydrocarbon potential
May 18, 2026 Jeremy Beckman
The program will cover waters between the borders with neighboring French Guiana and Guyana.
Staatsolie plans to commission a new seismic survey over Suriname’s shallow offshore area. This extends from the coastline to halfway between offshore blocks 15, 52 and 58, in a region between the maritime borders with French Guiana and Guyana.
The survey will cover a 52,400-sq-km area, in water depths ranging from 0 m to about 500 m, and it should deliver insight into subsurface structures and the oil and gas potential. from the coastline to halfway between offshore blocks 15, 52 and 58, between the maritime borders with French Guiana and Guyana. The survey will cover a 52,400-sq-km area, in water depths ranging from 0 m to about 500 m, and it should deliver insight into subsurface structures and the oil and gas potential.
Prior to the start of the campaign, ILACO Suriname will prepare a limited environmental impact assessment, in accordance with the guidelines of the country’s National Environment Authority.
Santokhi – Corentyne River of unity between Guyana & Suriname
April 7, 20260
At the funeral service for former Surinamese President Chandrikapersad Santokhi, Guyana President Dr Irfaan Ali reflected on the strong bond they shared as regional leaders and their mutual commitment to deepening bilateral relations. He subtly addressed the issue of the Corentyne River, which former President Santokhi viewed as a passage of unity between the two countries.
“He believed that the fortunes of our two lands were braided…He often spoke of the river not as a line between us but as a vein connecting two hearts, a passage of unity, not a border for discord.”
Suriname recently instituted fees for the use of the Corentyne River, which, local stakeholders say, will significantly impact economic activities in Guyana, especially in the Berbice region. Guyana formally protested the decision, with President Ali warning that
“measures of this nature risk creating unnecessary barriers to commerce and could undermine confidence of businesses that rely on predictable and fair operating conditions.”
President Ali had previously reminded the Government of Suriname that, “Surinamese businesses and investors have long benefited from opportunities within our economy, where they have operated without discrimination or undue restriction. This openness has been a cornerstone of our engagement.”
“Chandrikapersad Santokhi knew that true partnership between States must live in and through people, markets, in the small boats traversing the river that links us.
He encouraged our private sectors to weave together, understanding that growth is not only shaped in halls of power but forged along river banks, in the patient work of hands. He dreamed of bridges, born of steel and concrete, others of trust that would bind Guyana and Suriname closer, and always to return to the simple and aching truth, that what we build must rest on fairness and neutral care.
He reminded us that small States standing shoulder to shoulder can reach what neither can ever touch alone. He called for sure and mutually beneficial ties and he lived by that measure in every conversation, every handshake and every moment of resolve.”
St. Kitts and Nevis: 2026 Article IV Consultation-Press Release; and Staff Report
May 7, 2026
Summary
A windfall from Citizenship by Investment (CBI) Program revenues between 2021 and 2023 led to a significant increase in current spending.
Following a sharp decline in CBI revenues since 2024, the authorities have implemented reforms primarily to streamline current expenditure and taken steps to mobilize revenue and to further strengthen the integrity and sustainability of the CBI program.
Nevertheless, the fiscal deficit remains high, and reduced fiscal buffers limit the government’s capacity to respond to external shocks and meet development needs. The current account deficit also remains wide despite resilient tourism activity. Financial soundness has improved but vulnerabilities persist, particularly among public banks.
Amid higher oil prices linked to the war in the Middle East, growth is still projected to rebound in 2026—albeit less than expected before the outbreak of the war—while inflation is projected to increase moderately.
Potential growth has weakened over the past decades, constrained by low contributions from physical and human capital, while the economy is highly exposed to natural disasters (NDs). Near-term risks for growth are tilted to the downside, while inflation risks are tilted to the upside amid high global uncertainty.
NGC completes 100% of downstream gas contract renewals
27 May
Following execution of a new agreement with Methanol Holdings (Trinidad) Ltd, the largest methanol producer on the Point Lisas Industrial Estate, National Gas Company of Trinidad and Tobago Ltd renewed 100% of its downstream gas contracts. The execution of this contract evidenced renewed confidence of the petrochemical producers and MHTL in particular, in the management of the downstream petrochemical sector by NGC.
Executed on May 19, 2026, at NGC Head Office in Point Lisas, the agreement reinforces NGC’s continued commitment to supporting the long-term sustainability and competitiveness of Trinidad and Tobago petrochemical sector. The execution of the methanol GSC follows execution of new GSCs for Proman ammonia plants, Caribbean Nitrogen Company Ltd (CNC) and Nitrogen (2000) Unlimited (N2000).
Under the agreement, NGC will supply natural gas for MHTL methanol operations at the Point Lisas Industrial Estate.
“The GSC reflects NGC’s strategic focus on strengthening collaboration with downstream customers and supporting an industry that remains a major contributor to national economic development, foreign exchange earnings and employment.
Importantly, the execution of this agreement marks the successful conclusion of 100% of NGC’s downstream gas contract renewals with its downstream customers and the Proman Group companies, including MHTL, CNC and N2000.
The completion of these agreements underscores the confidence of key downstream stakeholders in Trinidad and Tobago energy sector and demonstrates NGC’s continued ability to work collaboratively with its customers to secure commercially sustainable outcomes that support industrial continuity and long-term national value creation.”
Acting president, Edmund Subryan, said the state-owned NGC remains steadfast in fulfilling its commitments to customers and fostering stability across the gas value chain.
“This agreement supports a key downstream industry that creates significant value for Trinidad and Tobago and contributes to the country’s economic resilience.
We are particularly pleased that the completion of these agreements with the Proman Group represents the successful conclusion of all downstream contract renewals within that portfolio, providing greater certainty for continued operations and investment in Trinidad and Tobago. We thank all parties involved, particularly the commercial and legal teams, whose collaboration and dedication made this outcome possible. We also acknowledge the continued support of our chairman and board of directors.”
NGC chairman Gerald Ramdeen said the agreements reflect “proactive engagement” with downstream stakeholders and commitment to supporting the continued success and competitiveness of Trinidad and Tobago’s energy sector.
“The successful conclusion of negotiations with all Proman Group companies demonstrates that constructive partnership and meaningful dialogue, continue to deliver positive outcomes for the industry and the country. The execution of these contracts evidences the confidence that the downstream petrochemical sector has in the management of this country’s gas supply by NGC.
“Importantly, these contracts help secure continuity within Trinidad and Tobago’s globally recognised methanol and ammonia industries, supporting export activity, employment, foreign exchange earnings and long-term national development for the benefit of Trinidad and Tobago.
The agreements form part of broader efforts to strengthen the domestic gas value chain, support industrial stability and maintain Trinidad and Tobago’s position as a competitive and reliable energy producer”. Ramdeen said despite all the noise the NGC board, management and staff were not distracted.
“Together, through dedication, commitment, hard work and by God’s grace, we have delivered value to our country and secured the best interest of our people, our country and NGC.”
CDB Advances Grenada’s Geothermal Programme to Critical Decision Phase
MAY 5, 2026
The Caribbean Development Bank advanced the Grenada geothermal energy programme into a decisive new phase, launching an expanded drilling campaign at Mount St. Catherine, in the north of the island, to determine the viability of commercial power generation. Dr. Isaac Solomon, CDB Vice-President of Operations, said,
“Geothermal energy holds transformative potential for Grenada and the wider Caribbean. The results of this enhanced exploratory programme will provide the evidence needed to guide next steps with confidence.”
The expanded project replaces originally planned slim exploration wells with deeper, wider rotary wells using directional drilling technology. This significant upgrade will produce stronger reservoir data and provide a solid foundation for investment decisions and long-term energy planning.
The new phase is backed by a GBP10 million contribution from the UK Foreign, Commonwealth & Development Office (FCDO) made in 2025. It builds on CDB’s earlier approval of USD9.4 million in 2023 for the Grenada Geothermal Drilling Project, with financial support from partners including the Inter-American Development Bank, the Global Environment Facility, the European Union and the Government of Italy. Key preparatory work has been completed, including environmental and social impact assessments, land acquisition and the establishment of a dedicated Project Management Unit. Engineering designs and procurement are at an advanced stage, with technical support from the Government of New Zealand.
Director of Projects at CDB, L. O’Reilly Lewis said the technical approach at Mount St. Catherine reflects the rigorous standards required to advance geothermal energy from exploration to investment decision.
“This foundation is critical as the region accelerates its renewable energy ambitions.”
The project timeline now extends to June 2028 to accommodate the upgraded drilling scope, additional civil works, and strengthened environmental safeguards. Prime Minister, Hon. Dickon Mitchell, said,
“The results of this drilling phase will determine geothermal energy’s role in Grenada’s long-term energy future. We are committed to the pursuit of local pathways to energy security, reduced dependence on imported fuels, and enhanced economic opportunities for our people.”
The project is designed to provide the Government of Grenada with technical evidence required to determine whether to proceed with development of a geothermal power plant. Subject to favourable results, the next phase is expected to involve a competitive tender process to attract private sector investment for construction and operation.
CDB’s support to Grenada forms part of a broader regional push to expand renewable energy capacity, with similar geothermal initiatives under way in Dominica and Saint Kitts and Nevis.
T&T FOREIGN MINISTER AT HIGH-LEVEL MEETINGS IN WASHINGTON DC
13 May 2026
Foreign and CARICOM Affairs Minister, the Honourable Sean Sobers is In Washington DC, USA for bilateral discussions with senior officials of the Federal Government in the United States of America. During the period 13-15 May 2026, he will meet officials in the Department of State, United States Trade Representative, Department of Energy, Department of War and National Security Council.
Discussions will focus on matters relating to foreign policy, energy security, national security and international trade and will build on previous bilateral discussions between both countries spearheaded by the Honourable Kamla Persad-Bissessar S.C., Prime Minister of the Republic of Trinidad and Tobago most recently at the Shield of Americas Summit in Miami in March 2026 hosted by United States President, Honourable Donald Trump.
Minister Sobers today met Senior Officials of the United States Department of Energy and National Security Council and will meet with US Deputy Secretary of State Christopher Landau on 15 May 2026.
Deputy Secretary Landau meets Foreign Minister Sobers
C. M. Ingle May 15, 2026
Deputy Secretary Landau met Trinidad and Tobago Foreign Minister Sean Sobers on May 15 to discuss economic and security ties between the two countries. The meeting highlighted the importance of Trinidad and Tobago’s role in the Caribbean region. Both officials reaffirmed their commitment to strengthening cooperation, particularly in economic development and security matters.
During their discussion, Landau and Sobers addressed investment opportunities in Trinidad and Tobago as well as the significance of energy security for both nations. They emphasized that maintaining stable energy resources is important for the U.S. market as well as for regional prosperity. The officials pledged to explore further ways to advance shared interests. This includes enhancing security cooperation efforts and promoting regional energy initiatives aimed at benefiting both countries. Both sides expressed an intention to continue working together on these priorities to support stability and growth for regional economic well-being.
T&T Ministers tour USS Nimitz (CVN-68)
27 May
US Embassy and Southern Command joined Ministers Wayne Sturge, Jearlean John and Saddam Hosein on the deck of the USS Nimitz..
The US Embassy and Southern Command invited three ministers to participate in a Distinguished Visitor (DV) Day Tour of the USS Nimitz hosted by the Nimitz Carrier Strike Group. Ministers Wayne Sturge, Jearlean John and Saddam Hosein boarded a United States military C-2 aircraft and flew to international waters where they toured the USS Nimitz (CVN-68), one of the most powerful nuclear-powered supercarriers in the US Navy fleet. A US naval officer aboard the USS Nimitz shared insights into the operations of the vessel to the T&T delegation.
The USS Nimitz serves as the flagship of the US Nimitz Carrier Strike Group and is capable of operating globally for extended periods without refuelling. Named after Fleet Admiral Chester W Nimitz, the vessel functions as a floating military airbase.
The Nimitz Carrier Strike Group is a major US naval combat formation supported by
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- guided missile destroyers,
- cruisers,
- submarines,
- supply ships and
- an embarked air wing of
- fighter jets,
- surveillance aircraft and
- helicopters.
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Carrier Strike Groups are among the world’s most formidable military assets, enabling the USA to project air and naval power globally without relying on land-based facilities.
Guests included Narine Charran, Permanent Secretary in the Ministry of Defence; Commodore Don Polo, Chief of Defence Staff; Captain Kemba Hannays, Commanding Officer of the TTAG; and Captain Akenathon Isaac, Commanding Officer of the TTCG.
The delegation toured the carrier and gained insight into the operations of a “floating airport”, including observing aircraft take-offs and landings and associated safety procedures. The captain of the USS Nimitz presented a commemorative plaque to Sturge who presented a plaque on behalf of Trinidad and Tobago.
Sturge marvelled at the sophistication of the USS Nimitz, particularly its launch system.
“The landing and take off was done by catapult which I never quite understood until I experienced it.”
The Minister said further information would be shared later, stressing the importance of keeping sensitive national security matters confidential.
The delegation appreciated the information and experiences and look forward to continued collaboration.
Sturge confirmed the guests travelled aboard a US military aircraft to the vessel, where he met six Trinidadians serving aboard the carrier and later arranged for doubles to be sent to them following the visit.
“It was amazing to see the capabilities. Met six Trinidadians on board so we sent back some doubles for them seeing that five of them talked about missing it and the other left so long ago and can’t recall ever having had it.”
The USS Nimitz also acknowledged the visit.
“Today USS Nimitz was honoured to welcome distinguished visitors from Trinidad and Tobago while operating in the Caribbean. Their visit reflects the strong ties between our nations and the importance of continued engagement among partners committed to security, cooperation, and stability throughout the region.
We were also proud of our Trinidadian-American sailors who were able to join the tour and show off their Old Salt strength! To our guests from Trinidad and Tobago, thank you for your friendship and for joining us aboard Nimitz!”
Nimitz is deployed as part of US Naval Forces Southern Command & 4th Fleet’s Southern Seas 2026 which seeks to enhance capability, improve interoperability and strengthen maritime partnerships with countries throughout the region through joint, multinational and inter-agency exchanges and cooperation.