New US$400M US embassy in Trinidad

2025, 06/06

Construction of the new $US400 million United States embassy has begun and embassy officials advised that residents may experience noise and traffic disruptions in the coming months. The embassy is being built on the site of the former Trinidad Country Club on Long Circular Road, Maraval.

“The embassy apologises to residents and motorists in the area for the inconvenience including noise and intermittent traffic disruptions in the next few months, because of the use of heavy equipment on site. We are delighted that the two large, historic Samaan trees on the property are to be preserved in the final landscape plan. I know how dear these trees are to our neighbours,” Chargé d’Affaires Dr Jenifer Neidhart de Ortiz said.

The statement added that the nest of a protected species of blue and yellow macaws in a tree on the site will also be preserved until the macaw chicks fledge the nest.

The 11-acre property was acquired in 2023 and hundreds of nationals will be employed on the project, which will showcase state-of-the-art designs and materials. It is expected to be completed in 2029.

“It is not just a physical expansion, but a powerful reflection of the robust and longstanding relationship between the people and government of the United States and Trinidad and Tobago. It will improve the experience for visa applicants and those conducting business with the U.S. government.”

In view of growing conflict, the USA should acquire the Chaguaramas Naval Base to restore security to the Caribbean Basin, protect shipping and commerce and deter trafficking of migrants, arms and drugs.

 

 

USA risk to national security

6 June

A full travel ban affects Congo Brazzaville, Equatorial Guinea, Eritrea, Somalia, Chad, Sudan, and Libya. Seven countries face partial travel restrictions- Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela.

 

 

 

 

T&T Green Fund balance and disbursements

2025, 06/26

The Green Fund is an often-overlooked asset in Trinidad and Tobago. It has been quietly accumulating a significant amount of funds and is rarely ever tapped. At present, the fund contains over $11 billion, but only around $326 million has ever been disbursed in 16 years. This data was recently released with the Auditor General’s Report 2024.

The Green Fund was first established under the Finance Act 2000. Other legislative provisions which apply to the operation of the fund include the Miscellaneous Taxes Act, the Green Fund Regulations, 2007 and the Finance Act, 2010. The objective of the fund is to fund environmental projects implemented by NGOs and similar community groups.

The accumulation of funds is easy to understand. All companies and partnerships in T&T pay into the fund. Companies and partnerships pay 0.3 per cent of their gross income into the fund. This includes not-for-profit companies. Since 2021, the fund has received on average $1b per year. While significant funds have been accumulated, very little has been paid out to organisations to implement projects.

Proceeds of the fund are made available to local registered organisations and community groups, whose activities are related to one or more of four focal areas, including remediation, reforestation, environmental education or environmental issues and conservation of the environment. When the Green Fund was developed the focus was on local environmental projects and issues like habitat protection and reforestation. Climate adaptation or mitigation did not figure as a major theme.

Since the signing of the Paris Agreement in 2015, there have been increasing pressures to reduce carbon emissions around the world. T&T has a bad reputation for high CO2 emissions per capita. One of the major challenges in reducing emissions, is access to funding. The options open to many projects are external to the country, with high interest rates.

The Green Fund offers the potential to have a domestic source of financing to successfully unlock projects like renewable energy projects, carbon capture projects and energy efficiency projects. If repurposed, the fund has the potential to make a huge difference in the approach to decarbonisation and adaptation for climate change. The Energy Chamber has recommended that the fund should be repurposed or revised to focus on climate change, reduction in greenhouse gas emissions and climate adaptation.

 

 

 

From South Trinidad to the summit of science

Prof Ramlal champions geospatial innovation

10 June

“Everything that happens, happens somewhere.”

With his favourite quote, Bheshem Ramlal, professor of Geospatial Information Engineering, opened and concluded his Professorial Inaugural Lecture at The University of the West Indies St Augustine on May 15. His presentation, “Advancing geospatial ecosystems functionality to address Caribbean Development challenges,” highlighted the power of geospatial science in tackling the region’s most pressing development issues, climate resilience, disaster preparedness, data governance and sustainable planning.

The evening was a celebration of science and of a personal journey marked by perseverance and purpose from a modest upbringing, in South Trinidad as one of eight children, to becoming dean of the Faculty of Engineering and a global authority on geospatial information is an inspiration.

The audience, including former students, now holding leadership roles such as director of surveys, commissioner of State lands, and other senior positions in the public and private sector, expressed heartfelt gratitude to their mentor. Prof Ramlal responded with pride, deeply moved to see his students thriving and contributing to national development.

Prof Ramlal elaborated on the Geospatial Observation Centre, a key initiative established in 2015 and developed in partnership with the government of Mexico. Fully operational at The UWI Penal-Debe, the centre will leverage satellite imagery for regional monitoring of critical environmental issues such as coastal erosion, sargassum seaweed mapping and monitoring, forest degradation and flooding. This integration will connect the region to a global network dedicated to enhancing environmental intelligence and disaster risk reduction.

Prof Ramlal addressed the continuing brain drain in the geospatial sector, stating: “Notwithstanding all the efforts to educate persons in the geospatial discipline, we still have limited human capacity. One of the challenges was that across the region, when you educate somebody enough, they are taken away, hired in another country that didn’t invest in the person’s education—and so we lose valuable people because they get a better salary somewhere else.”

Prof Ramlal emphasised the critical role of national spatial data infrastructures (NSDIs) and metadata standards, areas he has championed . These tools are essential for managing geospatial data in a structured way to address complex development problems and support sustainable decision-making.

With a 40-year career at The UWI, Prof Ramlal has been a pioneer in developing geospatial academic programmes, including the MSc, MPhil and PhD in Geoinformatics. His advocacy has helped earn geospatial professionals a place alongside civil, mechanical and electrical engineers, firmly establishing the discipline within the engineering fraternity.

Pro vice-chancellor and campus principal Professor Rose-Marie Belle Antoine commended his impact and leadership.

“He supported the design and review of academic programmes in Geoinformatics and Geomatics Engineering at The UWI, which trained hundreds of professionals. This has contributed to capacity building, ensuring the region has a pool of geographic information system (GIS) experts to serve needs. 90% of all the data needed to achieve the SDGs is geospatial in nature. This argument enabled us to secure funding for a project to help improve the national geospatial ecosystems in the Caribbean in partnership with the government of Mexico, the United Nations Global Geographic Information Management Americas (UN-GGIM Americas), and the Association of Caribbean States.”

Prof Ramlal’s academic credentials span international institutions: PhD in Spatial Information Science and Engineering from the University of Maine, USA; a MSc in Map and Geo-information Production from the Netherlands; BSc in Land Surveying from The UWI St Augustine; and a Certificate in Education from the University of British Columbia.

The Professorial Inaugural Lecture Series at The UWI highlights the achievements of newly appointed professors and their contributions to academia, policy and public life. The full recording of Professor Ramlal’s lecture is available on The UWI, St Augustine YouTube channel: https://www.youtube.com/watch?v=iEZ4OuJ-MR4

 

 

 

Wanted… again. Missing Runaway tug behind Caribbean oil spill

Satellite tracking has been unable to locate the Solo Creed after it fled arrest in Angola

29 April 2025
Paul Peachey

The tug at the centre of a devastating oil spill off Trinidad and Tobago has escaped arrest in Africa and avoided satellite-backed efforts to track it down. The Tanzania-flagged, 538-gt Solo Creed (built 1976) has been missing for nearly six months after being held responsible for towing a decrepit barge that capsized, sank and spilled bunker fuel in February 2024.The tug released its lines to the barge, Gulfstream, and disappeared for several months, sparking a global hunt for the vessel and its still unidentified owners.

It did not broadcast AIS signals for more than 100 days before it was found in May in Angola and arrested for breaching a number of oilfield exclusion zones. Its whereabouts were first identified by online investigative unit Bellingcat.

The Trinidad and Tobago government said it conducted a “relentless pursuit” of the tug and secured an order to seize the ship. Guards were put on board.

However, it has emerged that the Solo Creed disappeared again late last year, according to the International Oil Pollution Compensation Funds.

“To date, its whereabouts are still unknown, despite the authorities in Trinidad and Tobago employing the services of a satellite company to try to track the vessel,” an official told a meeting of the 121 member states in London.

The Solo Creed was believed to have been towing the Gulfsteam from Venezuela to an industrial plant in Guyana when it sank about 16 km off Tobago before coming to rest 200 metres offshore.

Before its voyage, the unregistered and uninspected barge had been beached for seven months to stop it from sinking and had to be pumped out. It was leaking oil even as it left the port.

The slick spread more than 800 km across the Caribbean Sea and polluted beaches, coral reefs and mangroves. Traces of oil were found as far away as the Caribbean island of Bonaire.

Nearly 300 claims have been made, totalling more than $30m to IOPC Funds, with many from the fisheries sector.

About 33,000 barrels of oil were recovered from the wreck of the Gulfstream.

TankerTrackers said the Gulfstream was seen in Pozuelo Bay, Venezuela, during the final week of January last year.

Sanctions problem
If confirmed to be from Venezuela, the authorities will likely require permission from the US sanctions regulator before any buyer will touch the oil, a meeting of the IOPC Funds heard on Tuesday.

The official said: “The latest situation is that the authorities are facing difficulty selling the oil due to the unknown origin.

“No one knows for certain precisely where the oil came from, and this causes problems for a sale on the international markets, where the provenance of the oil needs to be known.”

The ownership of the tug remains unknown. A representative for the Japanese delegation said: “It is unfortunate that the owner of the barge and the tug have not been identified. It is especially a pity that the tug, which was once under arrest, has been missing.”

The 38-metre tug was operating out of Panama, according to the Trinidad and Tobago coastguard. But Panama told the meeting in London that the tug was not entered into its register and its owner was not a “legal entity” established in the country. It said it had not been approached for information about the ownership.

“We restate our firm commitment to cooperate in any investigation,” the delegation said.

The casualty led to the IOPC Funds publishing new guidance to help coastal states during investigations into oil spills from uninsured and unsafe shipping.

It said that states should consider using satellite images and oil “fingerprinting” as part of their response to quickly identify those responsible and to try to hold them to account. Where there are questions over the source of the pollution, the guidance highlights how countries can accurately tie spills to vessels through ship tracking, satellite imagery and tests to match a cargo with a spill. IOPC Funds pays out to businesses and individuals from its 122-nation membership that have been affected by oil pollution events after shipowners have fulfilled their liabilities.(Copyright)

OTHER  RELATED HEADLINES:

Spectre of a permanent parallel fleet of shadow tankers hangs over shipping, IOPC chief fears
Vessel linked to $244m Caribbean oil spill arrested by Trinidad & Tobago
Vessel tied to $23m Caribbean oil spill detained off Africa
The dark fleet’s underwriter: Fund chief calls for extra heat on rogue flag states
Caribbean oil spill probe names and shames tug and barge

 

 

Benefit from conflict, trilateral dragon deal

23 June 2025

Energy Minister Dr Roodal Moonilal said Trinidad and Tobago may benefit from the Middle East conflict after US strikes on Iran on June 21-22 when supertankers turned around at the Strait of Hormuz through which around 20 per cent of global oil and gas supply is transported.

“The impact of that, a decision by the Iranian parliament, is that we expect a rapid increase, even an explosion in the price of oil,” he told Parliament on June 23.

On June 13, Israel strikes on Iran targeted its nuclear facilities. After failed talks between the US and Iran, the US strike on June 21 targeted three major nuclear facilities. In response to Israel strikes, Iran’s parliament ordered closure of the Strait of Hormuz on June 22, with major impacts on the world’s energy supply and prices. While regretting the increase under “war-like” circumstances, Moonilal said TT would benefit more if the previous administration had not “presided over a decline” in the industry.

“We would have benefited more if they did not shut down the Pointe-a-Pierre refinery because today we have to import fuel products, the price of which may increase and the volume of oil produced is 37 per cent lower than in 2015.

“If you don’t have something to take to the market, if the price increases it will not affect you, how can it affect you if you have no goods to sell?”

He noted developments in discussions with regional oil and gas authorities in Suriname and Guyana for future partnership and Shell TT’s intention to increase gas production from the Manatee field.

 

 

 

Refinery reopening committee

June 18

A committee with a combined experience of 500 years of experience in refinery services is to be appointed for the reopening of the Petrotrin refinery at Pointe-a-Pierre.

Energy Minister Dr Roodal Moonilal told Parliament the refinery requires technical, scientific, commercial, economic and contractual evaluations before the re-opening can be finalised and the government has been working with multiple stakeholders including the Oilfields Workers Trade Union.

Prime Minister Kamla Persad-Bissessar said the government made a commitment to see what could be done to reopen the refinery during Labour Day celebrations on June 19, after operations ceased in November 2018 in government’s restructuring .

“A lot of things have to happen at the same time. It is not simply going there with a cigarette lighter and lighting up the flare…We are going for a quick technical assessment of that refinery then we will engage a suitable partner through a proper, open, transparent process to restart in terms of the technical capabilities. We will engage relevant, suitable partners. We have been speaking with the international community in terms of what is required. We are working with partners in the labour sector and collaborating with others so that in the shortest possible time we will have our refinery.

The government is in talks with the Georgetown Chamber of Commerce and Industry and government officials for sourcing inputs for the refinery function such as crude oil.

Noting the role of cross-border gasfields, he said the government is working with authorities in the US and Venezuela to reach a common approach for TT to benefit.

“We warned the former administration to not put all their eggs in one basket. The basket fell. The US government cancelled two licences for the Manakin-Cocuina and the Dragon fields…we are now working with all international partners to ensure those matters can be resolved in a way that can benefit the Caricom territories and the co-owners of those gas fields consistent with the US foreign policies.

 

 

Mirage of the Dragon dream

The facade is over

Jean-Claude Escalante 10 June

Over 8 million people fled Venezuela over the last ten years—a statistic that means nothing to the Trinidadians who seemingly sided with Nicolas Maduro over Kamla Persad-Bissessar.   It’s absolutely astonishing how the same people who have been telling us to “put country before party” have now decided to put the interests of Venezuela above the interests of Trinidad under a UNC-led Government. What exactly are those who are admonishing Persad-Bissessar for her recent threats to Nicolas Maduro even trying to say?

If they’re suggesting that we had “better relations” with Venezuela under the People’s National Movement, then that is the height of foolishness.

At a time when Maduro is wanted by the United States government, maintaining “good relations” with Venezuela and the Maduro regime is a surefire way to get us blacklisted or isolated on the global stage. That’s not diplomacy—that’s diplomatic suicide.

Persad-Bissessar’s warning that any unidentified Venezuelan vessels found within our borders will be met with deadly force signals a seriousness that has long been overdue.  How can we possibly call for stronger border security, yet have a problem with ramping up defences and letting criminals and traffickers who have been pouring into our shores know that we mean business?

There is a serious problem on our hands. Every day we hear about some Venezuelan gang committing murder, or prostitution or drug trafficking ring involving Venezuelan nationals. These aren’t isolated cases anymore—they’re part of a broader trend. We’re not going to solve this problem with pen and paper but with a sword.

Election of the United National Congress ushered in a new era vis-à-vis our position on Venezuela. This regime isn’t interested in being buddies with Maduro—and rightfully so. The façade is over. We can drop the act now.

For over a decade, Maduro imposed suffering onto his people—banning international observers, jailing opposition candidates, allegedly rigging elections and silencing dissent. We have nothing to gain from sympathising with him. We certainly have nothing to profit from extending our right hand for a handshake, only to be stabbed with the left.

To hell with what former Prime Minister Keith Rowley has to say—we already know his position is biased and misguided.  It’s been six months since Rowley stepped down as prime minister and retired from politics, yet he’s still addressing the nation while the current Opposition Leader, Pennelope Beckles, appears to have lost her tongue.

Even out of office, the foolishness of Rowley knows no bounds.  For Rowley to call Persad-Bissessar’s comments “irresponsible” only proves how unfit he was for the job in the first place.  When you have Venezuelan vessels dropping off illegal immigrants with criminal pasts— who contribute directly to our ever-increasing crime rate—sending them a warning isn’t “irresponsible.”

It’s the most appropriate and measured response. Cozying up to despots, on the other hand, only further weakens our maritime security and national sovereignty.The message is clear: we’re not going to sit down and take it.

If you want to know what irresponsible looks like, look no further than the infamous Dragon gas deal. Signing away our energy resources to a maniac who brought economic ruin to his people and violated the UN Human Rights Charter was the most miscalculated move of the last regime.

We’re still paying for it today. It cannot be overlooked that Maduro signalled a desire for joint development shortly after laying claim to the Essequibo region.  We are witnessing Maduro trying to flout international law and lay ownership to Guyanese territory. What makes anyone think that Trinidad wasn’t next on his list?

It’s far from irresponsible to let him know “mess around and find out.” In fact, that’s exactly what a responsible government does—one that is genuinely interested in defending its citizens, protecting national borders, and standing firm against tyranny in any form.  What’s irresponsible isn’t warning Maduro—it’s enabling him. And that’s exactly what Rowley and his apologists have done.

 

 

 

Diplomacy destroyed

7 June

In February 2015, PM Kamla Persad-Bissessar warmly welcomed Nicolas Maduro , hosting the Venezuelan leader at the Diplomatic Centre, St Ann’s, for energy talks. Ten years later, on June 5, she warned her closest neighbour “They can do whatever they want on Venezuelan territory. But they cannot come here.”

The PM was responding to Venezuelan claims for which there is no evidence, that armed “terrorists,” backed by the US, entered Venezuela via Trinidad and Tobago.

“They made similar propaganda comments about Guyana and Colombia . We have to take this threat seriously.”

Lethal force would be used at our border in the event of any military incursion. Developments shattered decades of cordial diplomatic relations .

On June 6, Venezuela expressed “profound surprise” at the PM’s statements., but it has not been paying attention. Ms Persad-Bissessar soured on Maduro since the 2018 presidential elections – widely seen as a sham poll. In 2019, she backed Juan Guaido. In 2023, when the Essequibo conflict with Guyana escalated, she said to Maduro, “You touch one, you touch all.”

The possibility of Venezuela launching a false flag operation against T&T always existed in the wake of that Guyana border dispute. However, a Caricom intervention, the prospect of the Dragon gas deal, and the understanding that the US would not tolerate military action made such notions seem fanciful and remote. Not anymore.

Donald Trump is in the White House. The global order is in disarray. The Maduro regime is poised to take advantage. Mr Trump demolished Dragon. Ukraine suggests he does not value sovereignty. He abruptly banned people from countries, including Venezuela, this week.

“We stand solidly with the American government,” Ms Persad-Bissessar declared but the issue is whether the US stands with any country. In its communique of June 6, Venezuela further seized on the PM’s warning, saying it raised “serious suspicions of complicity.” However, this suggests it has fallen short of actual proof of such. It claims to have custody of “compelling evidence” of Trinidadian criminals’ plans, without immediately providing details.Venezuela’s allies include Russia, Iran and China. It has a military force believed to be in the hundreds of thousands.

TT cannot manage its borders effectively, or fight incursions from hostile actors. The UNC has long lamented the state of the naval fleet. To survive this impasse intact, we must prioritise diplomacy. All actions, including treatment of Venezuelans locally, should be based on evidence, not shadows, rhetoric and xenophobic paranoia.

The PM is entirely right to respond to Venezuela’s claims. Under the PNM the Solo Creed tug towing the Gulfstream barge from Venezuela entered TT waters under the nose of the Coast Guard. The barge sank and polluted the Caribbean Sea and the tug disappeared.

Call for ‘deadly force’ dangerous and irresponsible’

Former prime minister Stuart Young urged the Government “to engage in proper diplomatic communications with Venezuela and to appreciate that as the Government you have to act responsibly and judiciously. Carrying on with false bravado associated with soap-box politics is not only unbecoming but frankly dangerous in the circumstances.

“Furthermore, the UNC had better quickly appreciate that our future financial stability and energy security is directly tied to Venezuela. For example, the largest gas project currently being undertaken is Manatee which is actually a cross-border field with Venezuela, Loran-Manatee”.

He noted that in 2019 the PNM administration had successfully negotiated with Venezuela for Trinidad and Tobago to develop Manatee. “What happens if Venezuela decides now to cancel this arrangement? It would lead to financial disaster for Trinidad and Tobago. “Venezuela is seven miles off of the coast and is our closest geographical neighbour…This Government needs to wake up and stop jeopardising our future and our country’s reputation.. It is the height of irresponsibility and “arguably borderline insanity. I pray for Trinidad and Tobago.”

Young said that on many occasions in the past, T&T radar system failed to pick up marine vessels entering and leaving the country’s waters. “This is nothing new. The ocean expanse is vast and there are reports of numerous vessels entering and leaving Trinidad and Tobago’s waters.”

It was the same UNC that used to “scream” in opposition about porous borders. “So to now pretend that you can conclusively determine whether a vessel left Trinidad and Tobago destined for Venezuela with persons on board is simply not true,” Young said.

Former foreign affairs minister and PNM Senator Dr Amery Browne commented,

“It is in our sovereign national interest to avoid engaging in any cycle of rhetoric that escalates tension (with Venezuela). Why on earth has the Government not met with the Ambassador of Venezuela for a frank discussion and clarification of the positions and understanding of both sides? He (the Ambassador) is based here in Port of Spain. Communication with a neighbouring state via media conference rhetoric should never be a first resort.

It would be irresponsible of the Government for this week to end without it initiating such direct dialogue….any state making observations and allegations of a terrorist incursion originating in a neighbouring state and involving any alleged participation of one or more nationals from that neighbouring state, must be treated with, directly, urgently, and responsibly. There must be no recourse to megaphone engagement but rather swift outreach and direct engagement via our well-established diplomatic and national security channels.

The prudent immediate response on our part should have been to have initiated immediate outreach via the Ambassador of Venezuela in Port of Spain and likewise via our embassy in Caracas. The Ministers of Defence and Homeland Security would also urgently engage in relevant discussions with their counterparts across the border.”

Browne said the PNM always maintained that good neighbourly relations across this shared border are in the best interest of both states, and that diplomacy, dialogue, and direct collaboration can help with clarification, investigation and the avoidance of unnecessary tension.

“Such an approach would continue to prudently serve the best interest of our fishermen, our recreational and commercial marine sectors, our energy sector, our search and rescue collaborations and importantly, all counter-narcotics, counter-smuggling, and counter-trafficking operations in the Gulf of Paria and beyond. It is in our interest to engage in prudent diplomacy as opposed to sabre-rattling and name-calling.” He said as a responsible and patriotic Opposition, the PNM would avoid saying anything to inflame a highly sensitive situation in the neighbourly relations.

The Prime Minister sent a message to Venezuelan President Nicolas Maduro to stay out of Trinidad and Tobago territory as any identified vessel in T&T waters will be met with deadly force. She was responding to statements by Maduro and Venezuelan Justice Minister Diosdado Cabello.

Maduro claimed an armed group of men had attempted to enter Venezuela from Trinidad and Tobago. He said this group of armed men, carrying “weapons of war” were intercepted while trying to breach Venezuelan borders via Trinidad and Tobago.

The Prime Minister said there was no evidence to validate this claim. Noting that Cabello was reported as vowing to pursue anyone attempting to destabilise Venezuela, the Prime Minister said:

“Today, I want to make it clear to the Venezuelan government and officials that they can do whatever they want on Venezuela territory, but they cannot come here. T&T territory is off-limits to them….If Mr Cabello’s comments are a veiled threat to enter T&T territory, they should reconsider any such intention.” Stating that Government would take all threats against any incursion into T&T’s territory seriously, the Prime Minister added: “I will speak to the Minister of Defence and the Attorney General to seek advice on protections for our Coast Guard to use deadly force on any unidentified vessel entering Trinidadian waters from Venezuela, smuggling military-age, able-bodied men and women. T&T is off limits to them.”

 

 

 

Venezuela Partners With Small Firms as Chevron Scales Back

Bloomberg June 05, 2025

Venezuela’s state-run oil company signed at least nine new deals with foreign service providers, including two Chinese firms, to keep dollars flowing into the economy after US sanctions forced Chevron Corp. to end production.

The contracts are for the companies to operate wells that were drilled and grant the exclusive right to sell the output, a departure from long-standing practice where state-controlled Petroleos de Venezuela SA has always maintained exclusive trading rights. At least one company decided not to proceed because it couldn’t get a US licence to operate there.

The accords illuminate President Nicolas Maduro’s strategy for shoring up the economy and filling the void left by Chevron and other Western majors after the US administration refused to extend licences to operate in the country despite sanctions. Chevron accounted for almost a quarter of Venezuela’s oil production, its most important industry and source of foreign currency.

Chevron’s licence to produce and export crude to the US ended in early April and the company was allowed until May 27 to wrap up work. Permits for US service providers Halliburton Co., Schlumberger NV, Baker Hughes Co. and Weatherford International Plc expired in early May.

“PDVSA has a plan to keep producing oil despite the US’s unilateral coercive measures,” Vice President and Oil Minister Delcy Rodriguez said on May 29.

The new agreements call for each of the foreign companies to get control over at least one block of land in either Zulia state or the Orinoco Belt , the two richest oil producing regions. PDVSA will have a stake of at least 50% in crude produced — the exact percentage varies by block — and the partner company will handle all operations and its share of the oil sales. Foreign companies will be exempt from some taxes. PDVSA will pay for its share of investments with crude.

Companies include Aldyl Argentina SA and PRC firms Anhui Guangda Mining Investing Co. and China Concord Resources. A US company, North American Blue Energy Partners, a unit of energy magnate Harry Sargeant III’s Global Oil Management Group, signed a deal but couldn’t get a licence to operate in Venezuela.

The OPEC founder touted the contracts as opportunities for risk-tolerant service firms to fill the void left by the oil majors forced to exit. Generally, the companies can try to get around US sanctions by using cryptocurrency accounts and other forms of payment beyond the controls of US regulators.

William Rodríguez, a member of the energy committee at the National Assembly, said, “The only way Venezuela can maintain and increase its production is by relying on private local and international companies that don’t care about US sanctions. Unlike 2019, when sanctions first hit, there’s a framework in place to operate outside the US banking system and a structured market with ally countries, including China, Iran and Russia.”

Unlike previous joint-venture contracts, the new deals don’t need National Assembly approval as they are signed under Maduro’s anti-blockade law, which critics say is unconstitutional and circumvents the hydrocarbons law that limits foreign involvement in Venezuela’s oil industry. Venezuela produces about 1 million barrels of oil a day and output could fall by half after Trump’s policies take full effect, according to Oxford Economics. Other forecasts are less pessimistic. Francisco Monaldi, of the Latin American energy policy at Rice University Baker Institute for Public Policy in Houston, said output may fall just 11% by the end of this year.

While Chevron will no longer be permitted to produce oil in Venezuela, it has a waiver to conduct equipment maintenance there..

PDVSA forecast the 9 blocks operated under the new 20-year contracts will produce a combined 600,000 barrels a day with $20 billion in capital expenditures. PDVSA plans to sign more of these contracts over the next months, partly undoing the oil nationalization wave of late President Hugo Chavez’s in the mid-2000s. Monaldi said,

“PDVSA tried this before with little success in the past, although these new terms are far more attractive than previous ones. The key is that PDVSA must offer consistent supplies of crude oil to these companies willing to risk the consequences of trading in the black market.”

Crayton Harrison at tharrison5@bloomberg.net

 

 

 

Venezuela arrests alleged mercenary from T&T

June 5th 2025

Cabello also mentioned paramilitary arrangements in Ecuador

Venezuelan authorities have captured Guis Kendell Jerome, a citizen of Trinidad and Tobago, as part of an ongoing investigation into paramilitary groups allegedly entering the country to incite violence. Interior Minister Diosdado Cabello stated that mercenaries from Trinidad and Tobago, alongside Colombian paramilitary groups, are involved in these movements.

Cabello emphasized that an investigation has been launched to strengthen security measures. He also warned of terrorist training efforts in Ecuador, aimed at infiltrating Venezuela. The Bolivarian government is actively combating organized crime and drug trafficking networks, promising to dismantle these illegal groups, Caracas insisted.

“They are detained, we are respecting their human rights, and they are part of the terrorists who wanted to enter Venezuela,” Cabello stressed.

“A communiqué came out from the Ministry of Defense of Trinidad and Tobago, which denies the veracity of the evidence against a group of Colombian paramilitaries that entered Venezuela through Port of Spain, in Trinidad and Tobago,” Cabello also mentioned during his broadcast show.

“President Nicolás Maduro, yesterday denounced the incursion of some Colombian terrorists, some weapons that we captured in some towns… a press release came out that Colombian paramilitary groups are entering eastern Venezuela, through Trinidad and Tobago,” he further noted while underlining Venezuela’s commitment to safeguarding its territory despite the lack of support from other governments.

“The ministry is taking measures with greater seriousness and urgency through national security and thus improving active surveillance in our defense of the people,” he maintained.

“We take care of our Venezuelan territory, from the Essequibo River to La Guajira… I tell you, so that you are aware, that they are also training terrorists in Ecuador to enter Venezuela,” he pointed out.

Cabello’s remarks against Ecuador coincided with Quito’s Parliament approving a constitutional reform to allow foreign military bases, a measure promoted by President Daniel Noboa. The reform will be subject to a referendum within 45 days to rewrite Article 5 of the 2008 Constitution, which explicitly bans these settlements.

 

 

 

 

Brazil partnership propels Guyana’s coconut industry into bright future

 June 15, 2025

Minister Mustapha proposes farmer training exchange with Brazil’s COHIBRA

Guyana Minister of Agriculture and Managing Director of Hope Coconut Estate, Ricky Roopchand met representatives from COHIBRA, Brazil, Tiago Seixas Themudo, Export Manager, Lailton Arruda Barreto Filho, Director of New Projects Operation, and Lailton Arruda Barreto, CEO.

WITH contagious optimism and a shared vision for sustainable agriculture, a high-level team from ( Technology in the Production of Coconut Trees) COHIBRA, Brazil, recently concluded a landmark visit to Guyana—where they were greeted by a transformed coconut industry, one revitalised through strategic government investment, international collaboration, and community commitment.

The visit served as both a symbolic and practical milestone, marking three years since the Guyana Government embarked on an ambitious journey to revamp the once-declining coconut sector. And at the heart of this revitalisation stands Hope Coconut Estate—an agricultural hub that, not long ago, was teetering on collapse.

“We started with only five coconut seed bins. We could only afford 1,500 seed nuts. Today, we have 10 nurseries across the country producing 216,000 seedlings annually,” shared Mr. Ricky Roopchand, Managing Director of the Hope Coconut Estate.

Under the stewardship of President Irfaan Ali’s administration and the leadership of Agriculture, Minister Zulfikar Mustapha, the estate has become a beacon of progress and possibility.

Mr. Roopchand recalled inheriting an industry that was “literally bankrupt.” But with sustained government support, including the implementation of the national coconut sensitisation and decentralised seedling programmes, the estate has now expanded beyond all expectations. From an initial target of 3,000 acres, Guyana’s coconut cultivation now spans over 7,000 acres—thanks in large part to seed nuts from COHIBRA, which have exceeded 100,000 in number to date.

PARTNERSHIP ROOTED IN GROWTH

The COHIBRA representatives came to Guyana with a clear agenda: to witness firsthand the development of the seed nuts they had supplied, engage with local farmers, and assess the overall health of the industry. What they found exceeded their expectations.

“We were delighted with how the seed nuts were meticulously arranged in the bins and the health of the nurseries we visited,” said Tiago Seixas Themudo, Caribbean Export Manager at COHIBRA. “The fertility of the soil here is truly remarkable.”

But more than just observing progress, Themudo’s team engaged in deeper discussions with farmers and government officials—culminating in a meeting with Minister Mustapha that opened new doors for co-operation.

Minister Mustapha proposed a bold next step in the partnership: training Guyanese coconut farmers at COHIBRA’s facilities in Brazil. The initiative, Themudo explained, is designed to boost farmers’ knowledge of advanced techniques and management practices, enhancing their capacity to sustain and grow the industry.

“Guyana has competent people leading this project. With the right knowledge and continued support, the coconut industry here will explode,” Themudo stated, visibly impressed by the passion of the Minister and the progress on the ground.

He further commended President Ali for promoting sustainable agriculture, not just in Guyana but throughout the region.

“It’s the right perspective. This kind of development cannot be done alone. With pooled knowledge and shared resources, everyone benefits. We are a poor region, but, together, we are strong,” Themudo added.

Lailton Arruda Barreto Filho, Director of New Projects Operation at COHIBRA, highlighted the profitability and low maintenance of the coconut business, calling it a “golden opportunity” for both large-scale and small-scale farmers.

“Coconut farming is inclusive. One tree can last up to 50 years. If you treat the tree well, it will treat you well in return,” added COHIBRA’s CEO, Lailton Arruda Barreto, reinforcing the long-term value of investment in the sector.

Barreto said Minister Mustapha’s training proposal would be especially important in dispelling fears and encouraging hesitant farmers to join the sector, equipped with better knowledge and a support network.

FROM UNCERTAINTY TO REGIONAL LEADERSHIP

Guyana’s coconut resurgence is a lesson in perseverance and partnership. When local officials first sought to introduce new coconut varieties—after 40 years without change—they faced international reluctance but COHIBRA stood out.

“Many countries were hesitant to share with Guyana, but COHIBRA was different. Through CARDI, we connected with them, and they showed a willingness to help,” Roopchand explained.

He described the Brazilian varieties as some of the best in the world, well-suited to Guyana’s climate and soil. Results exceeded expectations: while the variety is expected to bear fruit in 36 months, COHIBRA representatives witnessed coconut trees producing within 22 to 28 months.

SEEDS OF A SUSTAINABLE FUTURE

The collaboration between COHIBRA and Guyana goes beyond commercial exchange—it’s a shared investment in sustainable development, knowledge transfer, and regional agricultural security. With expanding nurseries, thriving acreage, and empowered farmers, Guyana’s coconut industry is no longer an overlooked sector but a shining example of what can be achieved through vision, unity, and commitment.

As Brazil and Guyana deepen agricultural ties, the humble coconut may become a symbol of regional resilience—and a cornerstone of economic diversification in the region.

A tree of life, the coconut palm offers numerous utilities but notably, oil from its nuts. Traditionally used in cooking and skincare, the oil is instrumental in the global renewable energy future. Coconut oil is a form of biodiesel – a renewable source of energy produced from natural oils and fats. A chemical process extracts oil from coconut flesh, which is then filtered and mixed with alcohol under heat to form biodiesel. A principal advantage of coconut oil is its high energy efficiency. Compared with fossil fuels, coconut oil offers an exceptionally high energy yield per unit of crop and significantly reduced greenhouse gas emissions. This makes it a viable and superior alternative to fossil fuels .

 

 

 

Canada to expand support to Guyana through CARICOM partnership

May 18, 2025

CANADA reaffirmed its commitment to supporting Guyana’s institutional development through the Canada-CARICOM Expert Deployment Mechanism (CCEDM) — a regional initiative aimed at strengthening governance, justice and other critical sectors. Canadian High Commissioner to Guyana, Sébastien Sigouin, made the announcement during the recent launch of a restorative justice training programme for local practitioners.

The ultimate goal of CCEDM is to support Caribbean countries in their efforts to diversify and strengthen local economies, build strong and climate resilient communities, and reduce gender and economic inequalities. Canada remains firmly invested in the growth and resilience of Guyana’s public institutions. Additional Canadian experts will be deployed to provide technical support in priority areas as new needs emerge.

Sigouin acknowledged the long-standing partnership between Canada and Guyana, mentioning various initiatives to empower women, indigenous people and improve access to justice, as well as efforts to modernise legal systems and enhance justice delivery across CARICOM countries.

“For example, we work with the Justice Education Society (JES) in British Columbia to empower women and Indigenous people; to train the police, the judiciary, and prosecutors in trauma-informed approaches and gender sensitivity; and to improve access to justice for the most vulnerable members of society.”

He emphasised the importance of restorative justice, a concept used in Canada for decades to address human rights violations and discrimination. Sigouin stressed its role in fostering lasting solutions and peaceful societies through dialogue between victims, offenders and communities.

“I think this initiative still shows a strong co-operation between Canada and Guyana.”

With support from the CCEDM, Guyana successfully trained and certified 20 individuals to serve as restorative justice officers, creating a dedicated pool of professionals to staff centres across Regions Two, Three, Four, Five, and Six. The government has been able to access three advisers at no cost to the public coffers through this mechanism, all of whom possess the expertise needed to support the full launch of the new restorative justice centres.

High Commissioner Sigouin noted that Canada’s support for justice sector reform extends beyond Guyana, with similar partnerships being implemented across the wider Caribbean. These regional initiatives aim to modernise legal systems through improved case management, the reduction of judicial backlogs, and the enhancement of justice delivery mechanisms. Through the CCEDM, Canadian expertise is also being deployed in several other high-impact areas, such as trade policy and regulation, public sector governance and reform, tourism development, and environmental policy.

Countries currently receiving technical assistance under the CCEDM initiative include Antigua and Barbuda, Belize, Dominica, Grenada, Guyana, Jamaica, Saint Lucia, Saint Vincent and the Grenadines, and Suriname.

 

 

 

 

ANSA McAL to capture hydrogen

2025, 06/05

ANSA McAL Limited is hoping to increase the recovery of greenhouse gases, including hydrogen, from its Caribbean plants. Chief Legal and External Affairs Officer Frances Bain-Cumberbatch told the Caribbean Sustainable Energy Conference,

“For the last 25 years, Carib Brewery has been recovering (carbon dioxide) in Trinidad and St. Kitts. We have been recovering carbon dioxide from our manufacturing process and reusing that in our manufacturing of beverages. So, since we’ve been doing this for 25 years, the equipment and technology is not up to speed, and we’ve decided, because we are not recovering as much, that we need to go bigger and better. And that is what required investment, which we prepared to make and and we’ll be doing more of that in terms of recovering hydrogen from our processes at the brewery,” said Bain-Cumberbatch during a panel discussion of the topic ‘Decarbonisation of the hard-to-abate sectors in the Caribbean.’

She explained the capture of hydrogen was encouraged following the company’s acquisition Bleachtech last November, which gave the group greater insight into the process.

“Hydrogen is not a direct greenhouse gas, but it is considered an indirect greenhouse gas, and at our plants in Virginia we feed, store and compress and then we sell off hydrogen to commercial clients like Walmart in the United States.

And we are right now exploring projects in Trinidad because we have been in the bleach business, as I said, for 40 years. ANSA Chemicals is our company, and we will be exploring similar projects. In fact, we are seriously exploring with a partner to do a similar exercise in Trinidad.

It’s a journey we’ve begun the journey as we are focussed and committed to achieving our objectives and playing our part in in reducing our carbon emissions. This is a one aspect of our sustainability journey, because we have other aspects which deal with water conservation, energy reduction and more things of that nature.”

 

 

CDB, CABEI and CAF Sign Exposure Exchange Agreements

This is the first such agreement between non-AAA rated and Regional Multi Lateral Development Banks

PRESS RELEASE
MAY 27, 2025

CDB, CABEI and CAF sign first Exposure Exchange Agreements between non-AAA and Regional MDBs

Bridgetown, Barbados – The Caribbean Development Bank (CDB), the Central American Bank for Economic Integration (CABEI) and the Development Bank of Latin America and the Caribbean (CAF), have signed landmark Exposure Exchange Agreements (EEAs). These agreements represent a significant step toward strengthening capital positions, enhancing financial resilience, and advancing sustainable development across Latin America and the Caribbean.

CABEI (rated AA) and CAF (rated AA) signed a US$700 million EEA, while CDB (rated AA+) and CABEI executed a US$450 million EEA. These transactions are the first of their kind between Multilateral Development Banks (MDBs) rated below AAA and regional MDBs respectively, underscoring the institutions’ financial strength and growing strategic alignment. Considering the recommendations of the G20’s capital adequacy framework report, these agreements reflect a broader effort within the MDB community to adopt innovative financial instruments that enhance balance sheet efficiency and expand development impact.

Exposure Exchange Agreements enable MDBs to diversify risk by synthetically exchanging portions of their sovereign credit exposures. These transactions do not involve the transfer of loans or affect the relationship between borrowers and their original lenders; rather, they provide an efficient mechanism for reducing portfolio concentration, strengthening capital adequacy metrics, and creating additional lending headroom for member countries.

The agreements highlight each institution’s commitment to leveraging their capital bases more effectively, mobilising greater resources for sustainable development, and deepening regional cooperation. They also reinforce institutional ties among CDB, CABEI, and CAF, paving the way for further collaboration on innovative financial solutions and joint development goals.

CDB’s President, Daniel Best, emphasised that the EEA aligns with his vision to “Innovate” by introducing forward-looking capital solutions that enhance CDB’s ability to deliver sustainable and impactful development financing to its member countries.

“This agreement with CABEI is a milestone in cooperation among development banks. It not only reflects our financial strength and capacity for innovation but also sets a precedent for capital optimization and greater support for Latin America and the Caribbean. By efficiently diversifying risks, we enhance our ability to extend new loans to our member countries, financing critical infrastructure, energy transition, and social development projects. These are the types of partnerships we need to drive sustainable development in the region,” he stated.

CABEI’s Executive President, Gisela Sánchez, emphasised the importance of the agreements, stating: “These agreements represent a milestone in our history and a concrete result of our commitment to transforming development financing through strategic partnerships and financial innovation. As part of CABEI’s new Strategy, which prioritizes capital efficiency and the use of innovative financial instruments, these collaborations with CAF and CDB reinforce our role as a catalyst for regional integration and sustainable development. Most importantly, they mark a significant step toward improving the lives of millions of people in Central America, the Caribbean and beyond.”

CAF’s Executive President, Sergio Díaz-Granados stated: “This agreement with CABEI is a milestone in cooperation among development banks. It not only reflects our financial strength and capacity for innovation but also sets a precedent for capital optimization and greater support for Latin America and the Caribbean. By efficiently diversifying risks, we enhance our ability to extend new loans to our member countries, financing critical infrastructure, energy transition, and social development projects. These are the types of partnerships we need to drive sustainable development in the region.”

The signing of these EEAs marks a key milestone in the broader Balance Sheet Optimization (BSO) strategies being pursued by the MDBs to enhance capital adequacy, enhance lending capacity, and deliver long-term value for their members.

By leveraging innovative instruments like the EEA, the three institutions are positioning themselves as leaders in modernizing development finance, demonstrating their commitment to impactful, collaborative solutions that strengthen operational capacity to drive sustainable growth and resilience across Latin America and the Caribbean.

 

 

 

 

Ecopetrol will continue gas drilling in Colombia after Shell exit

Andrea Jaramillo, Bloomberg May 28, 2025

(Bloomberg) – Ecopetrol SA plans to continue drilling for natural gas in Colombian Caribbean waters after partner Shell Plc exited three offshore blocks, betting on growing domestic demand and potentially lucrative reserves.

Shell said in April it would pull out of the COL-5, Purple Angel and Fuerte Sur blocks as part of a “strategic” decision, ending its oil and gas exploration in Colombia. Rafael Guzman, vice president of hydrocarbons, said Ecopetrol, which jointly operates the areas, will proceed alone or seek a new partner.

“Not only is there a need for gas in Colombia but these are projects that have very good returns,” Guzman said in Colombia’s Casanare province, where Ecopetrol has gas blocks that meet half the nation’s demand.

Petrobras told investors earlier this month it’s evaluating possible acquisitions, including the blocks Shell is vacating.

Ecopetrol is racing to develop new gas sources as dwindling reserves force increased imports to supply homes and factories. President Gustavo Petro’s administration halted new exploration contracts since taking office in 2022, which means drillers must squeeze value from existing assets.

irst output from the offshore wells isn’t expected until 2029 at the earliest. One key site, the Sirius-2 well shared with Petrobras, could potentially triple Colombia’s gas reserves if the discovery is deemed commercially viable.

The two companies are currently drilling the Buena Suerte well in the GUA-OFF-0 block and plan to move next to the Papayuela prospect. Additional wells in the same block could follow depending on results.

Colombia’s proven gas reserves fell to the equivalent of 5.9 years of consumption at the end of 2024, the lowest level since at least 2007, according to a government report released this week. Oil reserves, meanwhile, edged up to 7.2 years.

 

 

 

 

Why predictions of “peak oil” are always wrong:

The mirage of “peak oil” in America

June 04, 2025

By Commissioner Wayne Christian, Railroad Commission of Texas

The media are reporting new predictions that oil production in America is in irreversible decline. Apparently, “peak oil” is back in vogue, like it’s 2005 instead of 2025. As a regulator of the nation’s largest oil and natural gas producing state, I’ve seen these scary headlines many times before, but here’s the good news: they are always wrong.

Previous inaccurate predictions. For half a century, analysts, environmentalists and policymakers have “cried wolf,” trying to forecast the arrival of “peak oil”—the point at which a country’s oil production hits its maximum and begins an irreversible decline. In the United States, this idea has taken on the character of prophecy, re-emerging every few years with new data, new fears, and new consequences for energy markets. Yet time and again, these predictions have fallen flat. Why?

The short answer: oil production is not just a matter of geology—it’s a moving target shaped by economics, politics, innovation and infrastructure. And nowhere is that dynamic clearer than in Texas, the powerhouse of American oil and gas.

The concept of peak oil dates back to geophysicist M. King Hubbert, who famously predicted in 1956 that U.S. oil production would peak in the early 1970s. He was right—for a time. U.S. output did, in fact, decline for several decades. But in 2008, the shale revolution took off! Thanks to human ingenuity, new drilling technologies like horizontal drilling and hydraulic fracturing unlocked vast reserves once thought inaccessible. Innovation mixed with the right public policy propelled U.S. production to historic highs and flipped the country from an energy importer to a net exporter. Who’s to say it won’t happen again in the face of these new predictions of peak oil?

The Texas success story:    This American energy renaissance largely occurred in Texas. The Permian basin has become one of the most productive oil fields in the world, (Fig. 1.) In fact, if the Lone Star State were its own country, we would be the world’s third-largest producer of natural gas and fourth-largest producer of oil.1    The state’s rich geology is only part of the story; its vast amount of privately-owned land, commonsense conservative government, responsible science-based regulatory environment, and oilfield infrastructure make it uniquely suited to adapt quickly to market changes and technological advances..

Learning from the pandemic period: Take 2020, for example, when a combination of Covid and OPEC+ collapsed global oil markets, causing international chaos and West Texas Intermediate to trade at a negative price. At the time, we were told by many “experts” that the industry was quickly trending toward destruction and to save it, the Railroad Commission must legally cap Texas’ production, i.e. prorate. Presenting a false choice between industry destruction or government intervention, many testified that proration was necessary to save Texas. However, we had faith in Texas producers and consumers and let the free market take its natural course. The Railroad Commission didn’t intervene, and that faith was rewarded with a healthy rebound.

“Peak oil” is inherently a misleading term for the average person. It’s a term for industry to describe market forces and a hyperbolic one for the mainstream media. Thanks to technology, hardworking Americas should rest easy, because geologists are finding more oil and gas reserves all the time. In 2018, the Permian boom continued, thanks to the largest find in history.2 More recently, the U.S. Geologic Society (USGS) discovered oil and gas reserves in Wyoming that were five times more than originally predicted.3

Future potential: Regardless of predictions of peak oil, Texas will continue to be the oil and gas workhorse for the nation. America has 48 Bbbl of proven oil reserves,4 and since 2016, Texas has accounted for 40% of that.5

According to the Institute for Energy Research, there are 1.66 trillion bbls of total technically recoverable oil in the U.S., which is enough to last for 227 years (or 539 years, if dedicated only to making gasoline).6 This is more than 5.6 times the proven reserves of Saudi Arabia. The same study showed 4.03 quadrillion cubic feet of recoverable natural gas reserves or enough supply for 130 years. Additionally, there’ve been reports that the Permian basin holds more than 230 Bbbl of oil and 600 Tcf of natural gas.7 Texas producers have told me that with current technology and techniques, they are only able to produce at most 5% to 6% of the oil underground. But when technology and technique improve, the sky is the limit on production, and we’ll have reliable energy for generations.

In the end, peak oil isn’t a single event, nor will it likely ever be. It’s a complex, evolving story that defies easy prediction. The only certainty is that the world needs fossil fuels; and so long as the world runs on oil and gas, Texas will have the capability to fuel it.

REFERENCES

1. https://www.txoga.org/policy-issues/natural-gas-facts/
2. https://www.forbes.com/sites/arielcohen/2018/12/21/americas-oil-and-gas-reserves-double-with-massive-new-permian-discovery/
3. https://oilprice.com/Energy/Crude-Oil/USGS-Discovers-Large-Oil-Gas-Deposits-In-Wyoming.html
4. https://www.eia.gov/naturalgas/crudeoilreserves/
5. https://www.txoga.org/analysis-production-proved-reserves-continue-to-grow/
6. https://www.instituteforenergyresearch.org/wp-content/uploads/2024/05/2024-North-American-Energy-Inventory.pdf
7. https://investors.next-decade.com/static-files/b464c51a-a6e7-42e8-85e4-f07a4fa3d81b

A lifelong conservative businessman, Wayne Christian was elected as the 50th Texas Railroad Commissioner in November 2016. Since taking office, Commissioner Christian has been appointed by Governor Greg Abbott to the Interstate Oil and Gas Compact Commission (IOGCC) as the Official Representative of Texas.

Christian graduated from Stephen F. Austin State University with a B.B.A. in General Business in 1973. In 1987, after gaining valuable experience in business, banking and real estate,

Commissioner Christian opened a financial services business and is a three-time AIG top advisor nationwide. In 1996, he was elected to the Texas House of Representatives. He served as Vice-Chair of Regulated Industries and as a multi-term member of the Energy Resource Committee. On these committees, he had direct oversight of the Railroad Commission and accumulated a strong record of standing for free markets and against burdensome regulations.

 

 

 

 

Food security on Summit agenda

June 9th 2025
Agencia Brasil

The Brazil-Caribbean Summit on June 13 in Brasilia, will focus on five key areas for a final document:

• • • • • food and nutrition security,
        • climate change,
        • energy transition,
        • risk management and
        • connectivity.

Brazilian Ambassador Gisela Padovan -Secretary for Latin America and the Caribbean- highlighted capacity to produce food for 1.6 billion people and the potential for enhanced trade and cooperation with Caribbean nations.

Attendance of eight heads of state (presidents) and six heads of government (prime ministers) was confirmed. Vice-presidents and authorities from international organizations and countries in the region are expected to attend.

The agenda of integration between Latin America and the Caribbean is a priority for the Luiz Inácio Lula da Silva government, since, in strategic terms, the Brazilian president has always defended the idea that, in isolation, no country will be able to solve its problems.

“We need to get closer to unite. The representativeness [of the region’s countries] in the world depends on the solidity of the regional base and the coordination of positions,” Padovan said about how the five priority themes will be addressed in the final document.

The expectation is that, by bringing the nations together, progress will be made even from a commercial point of view, since this is a market of 40 million people spread across small countries.

Regarding food security, Padovan insisted that, during previous meetings, with a population of just over 200 million people, Brazil can produce food for around 1.6 billion people.

“They said that they buy a lot of Brazilian food, but that, due to the lack of [port trade] routes, this food first goes to the United States [before reaching its final destination]. Even for tourism, you have to go to Miami first,” she said, noting out that the five priority issues can be discussed together.

For the diplomat, Brazil has a lot to collaborate with other nations through cooperation involving the Brazilian Agricultural Research Corporation (Embrapa) and the National Supply Company (Conab).

On climate change, Padovan noted that the idea is to present a unified position among the countries of the region, taking into account the effects of rising sea levels on nations and islands in the Caribbean Archipelago.

“The energy transition is also related to climate change,” she said, linking the two topics to disaster risk management, presently consisting of six mechanisms. “The idea now is to link these six mechanisms to exchange information.”

Connectivity addresses infrastructure issues to access ports by land and sea and expand air connections, increasing the number of flights between countries and favoring sectors such as tourism.

“At this point, we are paying particular attention to the so-called Route 1 integration, which provides for a [land] connection between Roraima and Georgetown, capital of Guyana, so that we can sell to the Caribbean without going through the United States”. A similar connection via Suriname is expected shortly.

Another key issue will be the dramatic situation in Haiti. Brazil has provided aid in security and construction, passing its expertise. Haitian security professionals were being trained through partnership with the Brazilian Federal Police.

“We will have a technical meeting of the summit to find ways to help this country, which is so important for the region.”

 

 

 

Dominican Republic:

Technical Assistance Project on the development of a Macroeconomic Projections Tool: End-project Report

By       Alberto Soler,
Juan S Corrales,
Juan Pablo Angel

June 10, 2025

Summary
This document outlines the main achievements of the Technical Assistance Project led by the IMF’s Institute for Capacity Development in the Dominican Republic from January 2023 to September 2024.

1. The project supported capacity building in macroeconomic forecasting and analysis within the Ministry of Finance (MoF) and facilitated the development and implementation of a macroeconomic projections tool grounded on Financial Programming principles.
2. Significant gains have been observed in the MoF team’s ability to independently operate this tool, and by the end of the project, early signs of its incorporation into the policy process are encouraging.
3. Additionally, the document outlines recommendations to foster its use for policymakers which were discussed with the authorities during the end-project mission.

Overall, the project outcomes are expected to positively contribute to the quality of the medium-term macroeconomic and fiscal frameworks.

 

 

 

 

5.7 magnitude quake near Dominican Republic and Puerto Rico

2025. 06/24 Puerto Rico (AP)

A 5.7 magnitude earthquake struck in waters northeast of the Dominican Republic late Monday, causing minor damage.

In Puerto Rico some neighbourhoods in the northwest town of Utuado lost power. The U.S. Geological Survey recorded the quake 48 miles (77 kilometres) north-northeast of Punta Cana, Dominican Republic, at a depth of 42 miles (about 68 kilometres). At least a dozen aftershocks occurred since then.

Puerto Rico and the Dominican Republic are located in a high seismic activity zone, where the North American Plate and the northeast corner of the Caribbean plate meet.

 

 

 

Guyana silica for Dominican Republic glass bottles

June 15, 2025

Guyana supplies the Dominican Republic with silica for the production of some 70 per cent of that country’s glass bottles and it is one area that has added to the growth from US$18.3 million to US$100 million in bilateral trade over the last five years, Dominican Republic (DR) Ambassador to Guyana, Ernesto Torres Pereyra, recently revealed.

“Guyana’s exports to the Dominican Republic have also grown, particularly in commodities like rice and silica sand. Remarkably, approximately 70 per cent of all glass bottles manufactured in the Dominican Republic are now produced using silica sand sourced from Guyana,” the DR envoy told the Sunday Stabroek in an interview.

“Through the proactive efforts of our diplomatic mission, connections have been facilitated for more than 50 Dominican companies seeking to enter the Guyanese market, while over 40 Guyanese companies have received support in sourcing products and services from the Dominican Republic. These initiatives have resulted in a dramatic increase in bilateral trade, which has grown from US$18.32 million in 2019 to nearly US$100 million in 2024, representing an impressive growth of 447 per cent over the past five years,” he added.

 

 

 

NFE gets non-compliance notice from NasdaqNFE’s first FLNG project

US LNG player New Fortress Energy received an expected notice on non-compliance with the Nasdaq listing rule for not submitting its quarterly report with the US SEC.

New Fortress Energy Discloses Notice from Nasdaq :

May 27, 2025 at 4:15 PM EDT

NEW YORK–(BUSINESS WIRE)–May 27, 2025– New Fortress Energy Inc. today announced its receipt of an expected notice (the “Notice”) from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Rule”) because the Company has not yet filed its Form 10-Q for the period ended March 31, 2025 (“Form 10-Q”) with the U.S. Securities and Exchange Commission (the “SEC”). The Rule requires listed companies to timely file all required periodic financial reports with the SEC. The Company is continuing to work diligently to finalize and file its Form 10-Q as soon as possible. The Company expects that its Form 10-Q will be consistent with the financial statements for the quarter ended March 31, 2025 that were publicly released on May 14, 2025.

The Notice states that the Company has 60 calendar days from the date of the Notice to submit a plan to regain compliance with the Rule and the Company expects to file the 10-Q well before the plan is due to Nasdaq. If Nasdaq accepts the Company’s plan to regain compliance, Nasdaq may grant the Company up to 180 calendar days from the prescribed due date of the Form 10-Q, or until November 11, 2025, to file the Form 10-Q to regain compliance.

The Notice has no immediate impact on the listing or trading of the Company’s securities on the Nasdaq Stock Market. If the Company fails to timely regain compliance with Nasdaq’s listing rules, the Company’s Class A common stock will be subject to delisting from Nasdaq.

New Fortress Energy Inc. is a global energy infrastructure company founded to address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The Company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the Company’s assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world.