Deepwater bid round

Energy Minister Stuart Young is eagerly awaiting the close of bids by energy companies to explore deepwater marine acreages for reserves of oil and natural gas. Discussions continue with a consortium consisting of BP and Shell about these deepwater blocks. He told media after the opening of Trinidad Generation Unlimited’s new office in Chaguanas,

“That will be closed off very shortly.”

Young said on June 2, 2022, at the close of bids for the 2021/2022 deepwater bid round, MEEI had received bids from a consortium of BP, EOG and BG (a Shell subsidiary) on four deep-water blocks – 23(b), 25(a), 25(b) and 27. After bids were evaluated, Cabinet appointed an inter-ministerial team to negotiate acceptable terms with the bidders for the award of production-sharing contracts for the four blocks. It was expected that the evaluation would be completed within three months.

“However,” he said, “the technical and commercial considerations associated with deepwater exploration and development have led to lengthy negotiations.”

TPHL open to proposals for refinery

 

Energy Minister Stuart Young told media Trinidad Petroleum Holdings Ltd (TPHL) remains open to proposals from parties who are interested in the former Petrotrin refinery at Pointe-a-Pierre.

After the opening of Trinidad Generation Unlimited’s (TGU) new office in Chaguanas, Young revealed TPHL chairman Michael Quamina, SC, said

“they are willing to look a proposals that are put forward with respect to the refinery.“

“If there is something worthwhile and feasible to be brought to the Government, they will bring it to the Government at that stage.”

Young did not indicate whether or not TPHL had received any recent proposals for the refinery. Petrotrin was closed in November 2018. TPHL, formed shortly after its closure, consists of four subsidiary companies – Heritage Petroleum Ltd, Paria Fuel Trading Company, Guaracara Refining Company Ltd and Petrotrin. The refinery falls under Guaracara’s purview. Unlike the other three companies under TPHL, Petrotrin exists only on paper and is not an active commercial entity.

 

 

 

Minister meets Marubeni, Powergen

Energy Minister Stuart Young discussed improving efficiency in power generation with high-level teams from Marubeni and Powergen at Powergen, Point Lisas. Young and two permanent secretaries met Marubeni CEO and managing director for Caribbean Marubeni Power International Inc Mo Majeed and Marubeni general manager, overseas power dept-II Shinnosuke Wantanabe.

Reduction of natural gas consumption and greenhouse gas emissions in the power generating sector were focal points of the discussion.

Young was updated on the decommissioning exercise of the PowerGen plant at Wrightson Road, Port of Spain,   which has been progressing in a safe and satisfactory manner.

Marubeni Corporation, established in 1858, uses its broad business networks within Japan and overseas to conduct a range of activities including power generation, infrastructure projects, construction, industrial machinery and next-gen business development.

The company began operations in TT in 2007 and has a 39 per cent equity interest in PowerGen, which supplies a significant percentage of TT’s total electricity demand

Spain envoy visits Energy Ministry

2023, 07/25

Minister of Energy Stuart Young and His Excellency Fernando Nogales, Ambassador of the Kingdom of Spain. accompanied by Cristina Argüelles García, Deputy Head of Mission held discussions on a variety of topics beneficial to both nations.

Diplomatic dialogue included the energy future of T&T and the region, with l emphasis on potential regional developments;and the use of additional renewable energy alternatives to assist the country in meeting its carbon reduction objectives.

Energy relations between T&T and Spain and by extension the European Union were a focal point to strengthen energy security, foster economic growth, and promote environmental sustainability.

The visit concluded with the Minister and the Ambassador expressing optimism to work towards propelling the bilateral relationship between T&T and Spain, which will promote the well-being of citizens.

 

 

Financial centre advances cashless culture

The TT Financial Centre (TTIFC) is moving the country one step closer to a cashless society with the launch of its innovation centre One FinTech Avenue. This will serve as a place for collaboration and knowledge sharing among industry experts, entrepreneurs and policy makers.

CEO John Outridge, said the name is meant to immediately draw people’s mind to TT once they hear “avenue.”

At the launch at Tower D of the International Waterfront Centre, he declared that July 5 should be considered another holiday – the day Port of Spain became the “capital of innovation.”

“It is really meant to be our dedicated national fintech platform because we do believe that we have the talent. TT has the strongest foundation in the Caribbean in terms of being able to do this.”

He claimed that no one else has the title of being the first to create an innovation centre like this in the Caribbean and so he took it upon himself to give One FinTech Avenue that stature. The first place title was echoed by Brian Manning, minister in the Ministry of Finance during his address.

Outridge said the centre showcased cashless society and fintech solutions that have been curated for the public sector. All of these platforms and creations are 100 per cent local, but there are 12 fintech solutions companies worldwide – majority are local – who applied to compete for funding. For this collaborative environment for fintechs, an acceleration programme will be developed, with an on site ecosystem.

Also participating in the competition are Eastern Caribbean commercial bank representatives since one of the avenues TT is exploring is helping islands with their own Central Bank digital currency platforms.

“This is why we have private sector partners to help us work with young entrepreneurs – provide them with the infrastructure and tools and a solutions and research programme.”

Outridge said the research programme will collect the data and evidence of why people use cash through conducting relevant surveys, questionnaires and related research activities to establish a source of evidence, insights, measurement and evaluation to strengthen the activities of the centre and generally advance digital finance and financial inclusion.

“As we speak the TTIFC in collaboration with the UN Capital Development Fund is undertaking a national financial inclusion study which is at an advanced stage.”

Besides making TT a cashless society, Outridge said there may be strides in running a start-up for digital nomads – this is where people from different countries go to another to work remotely.

An International Monetary Fund report published in March on the Caribbean and Latin America said FinTech funding increased from US$77 million in December 2019 to US$257 million last January.

TTIFC chairman Richard Young said this centre took two years and months of discussion to actualise. It will foster an environment conducive to innovation and can pave the way for technologies that can transform how transactions are conducted and finances are managed.

“It will provide individuals and businesses with access to cutting-edge solutions that aim to bridge the gap between traditional financial services and underserved communities. At the centre of its focus, this FinTech innovation centre will increase financial inclusion for everyone, regardless of their background or location and ensure equal opportunities when it comes to accessing financial services.”

Manning revealed that over the last three years, TT’s financial sector has undertaken tremendous strides in upgrading the market payments infrastructure, which provides the foundation for FinTech to build and scale their businesses. One of which was the move from local Linx magnetic stripe cards across all local commercial banks to Visa’s contact-less credentials.

“As the largest merchant and consumer of electronic payments, the government has also contributed significantly to sparking the industry and fostering interest in digital payment technologies. One of the government’s top priorities is digital transformation and through the ministry of finance, receivers of revenue are being urged to speed up their digitalisation of payment efforts and adoption of digital financial products to improve service delivery.”

Some examples were the HDC omni-channel payment platform for residents to make payments via cash agents, online debit and credit cards; Judiciary expansion of its Court Pay platform into the NLCB network of over 1,700 cash agents and the Ministry of Trade single electronic window (Sew), which will be deployed in the coming weeks.

“The government has also prioritised regulations that support the local FinTech sector. The electronic money issuer or (EMI) order gives non-financial institutions a path towards issuing payment credentials, which has pushed local talent, capital, businesses, and FinTech to focus on developing electronic payment solutions. This creates a strong foundation to accelerate innovation and financial/digital inclusion in the coming years. At present the central bank has issued three of these licenses to local players and we anticipate more in the future.”

Peter Cavendish, ambassador of the European Union Delegation of TT discussed the security aspects. “This country has succeeded due to the talents of it in working with us on a counter-terrorism technology project – a project that is ongoing with the UN office for counter-terrorism – and we’re hoping that this country can also be a leader in counter-terrorism technologies.”

He said this will complement the digitalisation stride.

Also present were Housing and Urban Development Minister Camille Robinson-Regis, Communications Minister Symon de Nobriga, Keino Cox, assistant general manager emerging services and innovation of TSTT, senior director VISA Jorge Salum and Central Bank governor, Dr Alvin Hilaire.

 

 

Central Bank : inflation down to 5.7%

The latest Central Bank Monetary Policy Report June 2023 noted a slow and steady domestic economic recovery for the first quarter of this year.

According to the index of retail prices, headline inflation slowed to 5.7 per cent in May compared to 6.0 per cent the month prior and 8.7 per cent in December 2022. Declining international food prices, in tandem with easing local produce prices, resulted in a drop in food inflation to 9.7 per cent in May, from 11.2 per cent in April and 17.3 per cent in December 2022.

Core inflation, which excludes food prices, remained unchanged at 4.8 per cent in May from the previous month but lower than the 6.7 per cent recorded in December 2022. The outlook noted that adverse weather could lead to some spikes in local food crop prices.

On energy, there were increases in liquid natural gas and methanol production compared to the first quarter of 2022, alongside reduced output of crude oil, natural gas, natural gas liquids, ammonia and urea.

In non-energy sectors, strengthened business activity and consumer demand were reflected in expansions in transportation and storage, wholesale and retail trade, electricity, water and construction sectors. Activity in the finance, insurance, manufacturing and agriculture sectors demonstrated somewhat less buoyancy during the period.

Private sector credit was relatively steady over the first four months of 2023, with growth of 6.5 per cent on a year-on-year basis in April, bolstered by consumer loan demand and real estate mortgage lending.

Credit to businesses sustained a healthy expansion of 6.4 per cent , albeit slower than the 9.8 per cent growth recorded in December 2022.

Liquidity remained ample, as commercial banks excess reserves at the bank increased from a daily average of TT$6.6 billion in March to TT$7.8 billion by the middle of June 2023.

Between February and May, the short term three-month differential between TT and US three-month treasuries moved to -476 basis points from -429 basis points in the context of continued interest rate increases by the US Fed.

The monetary policy committee (MPC) carefully examined international economic developments, in particular the slowdown in global growth, geopolitical tensions, decline in inflationary pressures and the monetary stances of major and other central banks. The committee also took note of the widening negative TT-US interest differential, progressive domestic decline in inflation and a gradual economic recovery.

Taking all factors into account, the MPC held the repo rate at 3.50 per cent. The Central Bank will continue to monitor and analyse international and domestic developments and will take further actions as necessary.

The next monetary policy announcement is scheduled for September.

 

 

 

Trade with Singapore, Finland

Minister of Trade and Industry, Paula Gopee-Scoon, held bilateral meetings with Karen Tan, plenipotentiary representative of Singapore to Caricom and Pertti Ikonen, non-resident Ambassador of Finland to TT.

On July 7, they discussed measures for improving trade, investment, digitalisation and co-operation between TT and Singapore and TT and Finland.

Gopee-Scoon and Tan discussed co-operation in areas, including trade, development of small to medium enterprises and digitalisation. Noting that digitalisation “can help countries leapfrog their economies,” Tan shared information on potential collaborations, including Singapore’s co-operation programme and the forum of small states for technical assistance. Tan expressed Singapore’s aim to increase its supply chains for agricultural products, noting the efforts of TT to implement the Caricom “25 per cent by 2025” plan to reduce the regional food import bill.

She highlighted the potential for the tourism industry in TT through multi-destination tourism in conjunction with other Caribbean countries.

The two parties agreed to continue to collaborate, strengthening trade and investment relations in key economic areas. Tan commended TT for hosting 50th-anniversary celebrations of Caricom at the 45th regular meeting of Caricom heads of government.

Ikonen highlighted Finland’s advances in renewable energy and a desire to increase collaboration with TT in this area. Gopee-Scoon and Ikonen discussed co-operation in information and communication technology, particularly 5G technology, education and the film industry. They agreed to continue dialogue in these areas and pursue joint initiatives to realise commercial opportunities.

 

 

 

Moody’s lifts outlook to positive

2023, 07/11

Finance Minister, Colm Imbert, said that Moody’s Investors Services, has affirmed the Ba2 rating of Trinidad and Tobago, but moved the country’s outlook upwards from stable to positive. Imbert described Moody’s Investors Services as one of the premier international rating agencies which rank the creditworthiness of borrowers, in particular sovereign governments,

He considers this affirmative action on the part of Moody’s to be a welcome development, because it acknowledges the positive outcome of the efforts of the country throughout several different shocks over recent years, such as oil and gas price volatility and adverse effects of the COVID-19 pandemic.

Moody’s positive outlook is based on the fiscal performance of the country, which goes beyond the windfall of last year from the surge in oil and gas prices and flows from positive developments favourably affecting gas production capacity and economic diversification.

Improvement in the country’s outlook is also an acknowledgment of policy effectiveness, illustrated by the capacity of the Government to implement difficult but necessary long-term reforms in restructuring transfers and subsidies and improving revenue collection.

Moody’s is reported to have observed, “The government’s adopted structural fiscal and economic reforms are reflected in an improving institutions and governance strength assessment as a driver of this action.”

Improvement in T&T’s outlook is a first step in the convergence and harmonisation of the country’s international credit ratings. It is also clear that our credit rating dynamics and momentum are now positive, which is of significant importance in a world of more elevated interest rates.

Better credit ratings will positively influence the cost of funding for the Government and State Enterprises and the economy as a whole, said Imbert.

 

 

 

 

NGC, WASA fix water woes

The National Gas Company (NGC) offered its services through technological support and by making resources available to the Water and Sewerage Authority (WASA) to ensure the constant recurring problems that plague customers are resolved quickly or prevented.

Mark Loquan, president of NGC, who served as a commissioner at WASA in the early 2000s, said Technological support includes e-auctioning, assets integrity through sharing pipeline software and a risk programme to pinpoint leaks.

During the signing of a memorandum of understanding at the Public Utilities Ministry, Loquan said, “It’s done in a proper risk framework and you can sort of prioritise where to put your energy and what to deal with before things happen.”

E-auctioning is a digital process in which the participating company is asked to specify what is needed before being placed in an online “room” to compete against other buyers.

A geographic information system will pinpoint leaks and allow engineers access to NGC information systems.

Also discussed were sustainability in the context of climate change – water conservation for agriculture and food security – as TT and the region are not immune to famine, flooding or drought.

A climate change and resilience portal will be launched which will be available for everyone and will show the flooding patterns.

Chairman of WASA Ravindra Nanga said NGC efforts to work with WASA under previous management were spurned. When NGC approached WASA again with an offer, the next day the 48-inch pipeline at the Caroni Water Treatment Plant ruptured and over 250,000 customers were affected.

“To say we were put in a tailspin is an understatement, because we were not quite sure what we were dealing with. But thankfully, NGC was on board with us from minute one and was providing assistance. In fact, currently we are installing a new line and we have (equipment and capacity) redundancy plans in place as well, but immediately, we are installing a new line.”

Nanga said costs have not been discussed yet but NGC provided the majority of the 48-inch pipes to begin the installation and with an Inter-American Development Bank loan which WASA is due to receive next year, pipelines will be replaced.

“We have already started installing loggers, so that we will be starting automation of our network. The executive recruitment has been completed and we are awaiting the final approvals to bring them aboard; there are a few positions that we need to go back out for, but that should be done in a short space of time.”

Loquan said, “I know what this will boil down to is not only the will of the people at this table – the board and management – but it will take leadership and the steering committee and resources working in a manner that says progress is being made or not. And we can see and we can communicate through our respective boards that this is happening well.

“Once we have that sort of governance and working structures in place, which we still have to do, I think you stand a good chance of getting the full value of this relationship.”

Loquan and Nanga signed the MoU,overseen by Public Utilities Minister Marvin Gonzales; Dr Joseph Ishmael Khan, chairman of NGC and Alston Fournillier, deputy chairman of WASA.

 

 

 

Niquan seeks fifth refinancing from creditors

2023, 07/06

Three months before the June 15 incident that caused the death of Allanlane Ramkissoon, regional credit rating agency, Caricris, lowered its corporate credit rating on NiQuan Energy Trinidad Ltd by one notch to CariBBB+ on the regional rating scale, and ttBBB+ on the T&T national scale. The fatal incident followed a huge explosion in February 2021. at the plant in Pointe-a-Pierre.

The regional and national scale T&T ratings indicate that the level of creditworthiness of (NiQuan), adjudged in relation to other obligors in the Caribbean and within T&T, is adequate, according to the Caricris rating review.

The Port-of-Spain-based rating agency downgraded NiQuan to reflect the impact of the delay by the company in achieving a successful full Lenders’ Reliability Test (LRT) certification and achieving full commercialisation at nameplate capacity. Caricris explained that the Lenders’ Reliability Test is designed to demonstrate to the project’s debt financiers the operational capabilities of the NiQuan gas-to-liquids (GTL) Plant, as certified by its independent engineer.

To pass the test, the NiQuan plant was required to operate uninterruptedly for three days (72 hours) and produce at its nameplate capacity of 2,400 barrels per day (bpd), a total of 7,200 bpd over the three-day period. When the bank-appointed independent engineer reported the Lenders’ Reliability Test on February 12, 2023, NiQuan was able to achieve average daily production output of just 1,072.8 bpd, which was just 44.7 per cent of its nameplate capacity.

Failure to achieve the nameplate production output in February 2023 “adversely impacted the company’s ability to secure timely refinancing, While an extension by noteholders was granted resulting in a revised maturity date of December 2022, the company is currently awaiting approvals from its senior secured noteholders to further extend the short-term note instrument to the end of July 2023, its fifth consecutive extension in refinancing. The continuous delays in refinancing which includes the capitalisation of interest and consent fees, have resulted in an increasing level of debt year-on-year (y-o-y) since 2018. As a result, the company is now seeking to issue a 10-year US$300 million bond by July 2023, up from US$200 million previously, thereby negatively impacting its financial risk profile as key projected debt servicing metrics weakened from our last report.”

NiQuan is unlikely to be able to pursue the proposed US$300 million bond issue–which is meant to settle previous indebtedness and supply the company with additional working capital–by the end of this month, because of the fatal incident on June 15, 2023 and the June 21, 2023 prohibition order from T&T’s Occupational Safety and Health Agency (OSHA). That prohibition order prevents NiQuan from “all activities associated with the reworks line (purging and steaming) WITH IMMEDIATE EFFECT…”

Up to February 2023, NiQuan was unable to achieve the Lenders’ Reliability Test mark of 2,400 bpd, as planned, because of “numerous operational delays inclusive of an unreliable natural gas supply, which resulted in further setbacks to commercialisation of operations and the company’s ability to secure timely refinancing,” according to the rating agency.

As Caricris explained in a footnote: “Operational delays occurred due to defective workmanship, the age of the plant, complexity of the technology and unreliability of the natural gas supply. This resulted in more than the usual engineering time to commission the plant and produce on-specification product.”

NiQuan suffered from an unreliable natural gas supply in 2022, even though it had a guaranteed supply contract of 31 million standard cubic feet per day (mmscf/d) of natural gas from state-owned Trinidad and Tobago Upstream Downstream Energy Operations Company Ltd.

According to the 2020 Company Registry filing for the operations company, the latest available, the sole shareholder of the company is Corporation Sole (Minister of Finance). The company’s two directors, at the time, were the permanent secretaries in the Ministry of Finance, Vishnu Dhanpaul and Michelle Durham-Kissoon.

One reason for the unreliable natural gas supply was “delayed payments” by NiQuan to the special-purpose natural gas supply company, established solely to provide natural gas to NiQuan, although its 2018 incorporation document states its main area of business activity as being “to spearhead investment initiatives in the energy sector.”

To ensure a reliable gas supply, NiQuan entered into a payment plan with the natural gas supply company to settle its outstanding balance and has since received a reliable supply of gas to continue its operations, according to the Caricris analysis.

NiQuan’s strengths identified by Caricris in its March 2023 review include: low construction/completion risk supported by the commissioning and start-up of operations by the plant; adequate debt-servicing capacity projected based on its operational efficiency guarantee output level and the owner-controlled insurance programme (OCIP) insurance wrap policies serve as an additional layer of protection to the lenders.

On the issue of the NiQuan plant’s insurance coverage, CariCRIS notes that the project is covered by an Owner-Controlled Insurance Programme, developed by Aon Energy Caribbean Ltd.

“In 2022, following the disruptions to gas supply to the plant, NiQuan entered a delay in the start-up phase. NiQuan initially proposed a delay in the start-up of operations claim of approximately US$40 million, which was later upsized to US$94 million, pending the success of the Lending Reliability Test.

“This type of claim can only be settled within three to four months following the full commercial start-up of plant operations. The success of the Lenders’ Reliability Test is required for the transition of the OCIP from construction insurance to operations insurance,” according to the rating agency’s review.

If the resumption of the Pointe-a-Pierre plant’s operation is delayed for an extended period, pending the submission and analysis of all of the reports on the June 15 fatality, NiQuan’s claim for US$94 million, as a result of the delay in the start-up of operations, will also be delayed.

Among the risks associated with the lowering of NiQuan’s credit rating to BBB+ are: “Recurrent operational challenges resulting in the inability of the GTL plant to achieve nameplate capacity at 2,400 bpd in a timely manner;” and “consistently high and rising debt levels over the past few years thus constraining financial flexibility.”

While it lowered NiQuan’s credit rating by one notch in March, Caricris assigned a stable outlook on the ratings.

“The stable outlook is based on our expectation that NiQuan will continue to make considerable progress towards ramping up production as recommendations following the completion of a mini-Lenders Reliability Test in January 2023 and an intermediary Lenders Reliability Test at 44.7 per cent of nameplate production in February 2023 are currently being actioned.

“Upon this, we expect the Lenders’ Reliability Test and refinancing to be completed no later than July 31, 2023, and commercial production at nameplate capacity to begin by September 30, 2023.

“Subsequently, we expect NiQuan to comfortably meet all its interest and principal repayments as they come due over the life of the refinanced facility from 2024.

“Should these outcomes be achieved over the coming year, we could consider a positive revision of our outlook and/or ratings on NiQuan.”

• NiQuan is unlikely to pass the Lenders’ Reliability Test by the end of this month and it is doubtful that it would be able to resume commercial production by the end of September.
• Beginning last November, NiQuan was able to supply product, zero-sulfur diesel and naptha, just not up to the 2,400 bpd required to pass the Lenders’ Reliability Test.
• According to the Caricris rating review, NiQuan first transferred 564 barrels of its product to wholly state-owned Paria Fuel Trading Company, followed by 916 barrels in November 2022 and 1,113 barrels in January 2023.
• Having started production, NiQuan conducted the Lenders’ Review Test, which was endorsed by BD Energy Systems LLC, the engineer of record and provider of the overall plant performance guarantee certificate.

The BD Energy Systems report “identified key operational deficiencies to be addressed which included repairs to its three amine pumps and prism unit, as well as the installation of an additional new prism membrane alongside other necessary optimisation changes at a total cost of US $138,000.”

Niquan questions

• Allan Lane Ramkissoon who died in Colombia after an incident at NiQuan Energy Trinidad Ltd on June 15, returned to Trinidad, with few answers.
• What was the cause of the fire that severely injured Ramkissoon, an employee of Massy Energy, the company sub-contracted by NiQuan on a maintenance job?

What we know however, is that answers are unlikely, given the posture adopted by government officials on this and related matters.

In Parliament on June 20, the Prime Minister, who cut the ribbon for the plant, suggested reports into the incident might not be released because NiQuan is a private legal entity.

“These things are guided by commercial controls and legal controls.”

This approach is disappointing. When it comes to accountability for worker deaths, it should not matter whether a company is private, public or quasi-public. All employers operating in this country should be subject to the same disclosure requirements as pertains in other countries.

The US Department of Labour keeps a database, accessible to the public, relating to fatalities and OSHA investigations. Anyone can check the status of a case, whether it is open or closed, whether citations have been issued, violations added or deleted and penalties applied.

If legal impediments stand in the way, a government has, through its parliamentary majority, the power to enact laws to overcome such hurdles. At the very least ministers have power to make statements to the House detailing findings of agencies overseen by them and funded by the State.

While the facility may well vest in a private entity, the Government has most certainly facilitated its operations in a variety of direct and indirect ways that raise a moral, if not legal, expectation of a basic degree of transparency. A worker died and that tragedy requires a fulsome approach, not one in which officials are allowed to hide behind fig leaves.

Closing the door to scrutiny only serves to open the door to fears of cover-ups. Such is detrimental to the interests of workers, their families, the economy and the country as a whole.

• Were the responses of company officials and first responders adequate?
• Could this accident have been prevented? Considering prior incidents, is there a problem with safety at this plant?
• What are the findings, whether initial or otherwise, of investigations launched by the Occupational Safety and Health Agency (OSHA), the Ministry of Energy and the companies involved?
• How confident can we be that such an incident is unlikely to recur?

More than a month later, the public cannot say.

 

 

 

Labour law reform

2023, 07/06

Chairman of the Employers’ Consultative Association (ECA) Keston Nancoo is urging stakeholders to move with “urgency” to reform labour laws, given rapid changes in the world of business and the workplace.

“It is no secret that this whole question of labour legislation and reform has been in the public domain for quite some time. In 2016, the ECA submitted a position paper which was the subject of discussion at the National Tripartite Advisory Council (NTAC) and we were able to come up with a document which the committee council believed was in the best interest going forward in dealing with labour law reform. The last thing was that these proposals were sent to Cabinet. With NTAC not being in place, we are not aware of where in the process this is stuck. The level of urgency really needs some fire.”

Nancoo spoke at a virtual forum hosted by the Cipriani College of Labour and Co-operative Studies on reforming labour laws in T&T. It was part of a month of activities in June to commemorate Labour Day on June 19. He identified workers in the informal sector as one of the main groups that need legislation to protect their rights.

“Contribution to the National Insurance, payment of taxes, those are the conversations that we must have, it is those that work in that informal sector. Look at what happened during the COVID pandemic, when people thought that they would have received their little $50 or $60 from the National Insurance and when they checked, employers were not paying. That is why the legislative framework is important.”

He said technologies, such as artificial intelligence, are impacting the workplace and the economy. This raises the issue of how will a “worker” be defined under this new paradigm. Labour reform is important as it has an impact on companies and the changing world of work.

“There are so many tentacles that labour reform finds itself in. We are living in a time where there are so many challenges with our youths, and when you look at the world of work and the job market, labour legislation and legislative reform, people may think that it’s not connected but there are connections in terms of getting people off the streets. The introduction of remote work requires serious consideration as it’s becoming a way of life. We still don’t have the level of clarity from the employers’ perspective, we are still not very clear as to what’s the next step. There needs to be a refocusing on labour legislation. Let’s stop just talking about it.”

He acknowledged that tripartite discussion is important and the Government, labour and business must all come together to discuss not only labour laws but other issues in the economy.

“Let’s rekindle that fire of hope. It is about what is in the national interest.”

General Secretary of the National Trade Union Centre (NATUC) Michael Annisette, told the forum that labour laws and the labour market are critical to development of the economy.

“The focus is on the adaptability of the labour market and also our culture and history as a region. I am speaking not about T&T now, but I am speaking as a Caribbean man. We are a very small region and the question of the cohesion of the region is important as it relates to the labour market.”

• He gave a historical view of labour legislation in T&T with the Industrial Stabilisation Act (ISA) enacted in 1965.
• This was followed by the Industrial Relations Act (IRA) of 1972 which repealed and replaced the ISA.
• Based on pieces of legislation that are over 50 years old, he said labour laws needed to be updated to meet the needs of the contemporary world of work.

“There are many changes, given the new dynamics of the world In 2017 the labour movement gave recommendations on labour law refo of work and we are moving towards a digitalisation of work and therefore our adaptability is required.” and it was submitted to Cabinet.

“We are now in 2023 and those recommendations for the changes in labour legislation have not seen daylight.”

Like Nancoo, he said that there should be an “urgent” thrust from all stakeholders to ensure that the work to begin to reform decades old labour legislation begins.

“This must be tripartite participation in the process and it cannot be mere window dressing as each day we are forced to face the realities of the world of work. We cannot as a people choose to not recognise social dialogue, social justice and labour legislation. In the absence of that, T&T will suffer.”

Annisette questioned whether the Government is serious about reforming labour legislation or any other types of issues. He said the labour movement had raised questions about the future of state-owned oil company Petrotrin. The labour movement also brought up the importance of closing off all outstanding wage negotiations and they were all ignored by the Minister of Finance.

Annisette used the example of Barbados. When Prime Minister Mia Mottley took office that country’s foreign reserves were low and it went to the International Monetary Fund (IMF). Mottley held stakeholder meetings with the entire country.

In September 2022, it was reported that Barbados entered another IMF programme in an effort to raise US$340 million in financial assistance. The IMF advised Barbados not to raise the minimum wage because it could not afford it and yet some stakeholders advised the Prime Minister to ignore the IMF and the minimum wage was eventually raised.

He said T&T is going down an “economic precipice” with serious negative effect on society. Statistics show that 65 per cent of employees in the T&T state sector are on contract labour and he contrasted this with Barbados where over 3,000 contract workers in the public sector were regularised. He said giving employees’ permanent status raises productivity in the workplace and in the economy in general.

“The Government is the biggest employer in T&T and if the example of the Government is to have employees working for 10 years or 15 years within the Government services herein lies the underpinnings of the problems in T&T. We also have a growing and galloping income and wage gap in the country. We have a wealth gap in T&T that is frightening.”

 

 

 

OSH probes injuries at Proman AUM Pt Lisas plant

Proman and the Occupational Safety and Health Agency (OSHA) have launched separate investigations into an incident at Proman’s AUM Ammonia facility at the Point Lisas Industrial Estate (PLIPDECO) which left two workers injured.

Labour Minister Stephen Mc Clashie confirmed that OSHA inspectors have been assigned to investigate the July 1 incident and that the incident was reported to OSHA in a timely manner. This follows his response on the evening of July 2 that he was unaware of it. He explained at that time that incidents of that nature, especially when there were injuries, should be immediately reported to the agency, which falls under his ministerial portfolio, and he would be subsequently informed. In a release , Proman confirmed the incident, which was reported in media.

The company said the injured men are contract workers from Phoenix Welding and Fabricating Ltd (PWFL).

“The PWFL workers were completing an equipment installation task, as part of the AUM Ammonia facility maintenance turnaround, when the incident occurred.”

It gave no details of the actual incident or nature of the injuries.

However, a voice note from another employee spoke of a loose object striking the two, one of them on the head, fracturing his skull. That worker is said to be in a critical condition in an intensive care unit.

The company did not reveal the extent of the injuries or where the employees were being treated. It said, “Both workers received immediate attention from the facility’s onsite medical team and the best possible tertiary medical care is subsequently being provided.”

Proman said, “The health and safety of our employees and contractors is our utmost priority. A full investigation has been launched to understand the causes of the incident. We are liaising closely with PWFL on the management of this incident and will continue to provide our full support and assistance.”

This is the second industrial accident in the past month. On June 15, Massy Energy employee Allan Lane Ramkissoon was severely injured in a fire at the NiQuan plant at Pointe-a-Pierre. He suffered burns to 60 per cent of his body and was taken to a burns unit in Colombia but died on June 18.

Several probes have begun into that incident and the Ministry of Energy instructed NiQuan to close that part of its plant until its safety can be ascertained. In 2021, an explosion at NiQuan’s gas-to-liquids plant led to its closure for almost a year.

Mc Clashie said the NiQuan investigators are still gathering information and examining the plant, on the compound of the Pointe-a-Pierre refinery.

Concerned at yet another industrial incident, Opposition shadow energy minister David Lee urged: “The Ministry of Labour needs to ensure all incidents are actively and promptly investigated by OSHA and action taken (against) these companies if found to be negligent. OSHA needs to be proactive not reactive.”

 

 

 

Public access to files, reports

The UNC Opposition says if the government has any transparency whatsoever, it will make public the Stanley John report on the State’s failure to defend a $20 million lawsuit. John, a retired judge, reportedly delivered the 60-page report to Attorney General Reginald Armour, SC, five months after the start of the investigation. John and former ACP Pamela Schullera-Hinds were retained by the Government to probe the State’s failure to defend a malicious prosecution lawsuit filed by nine men acquitted of murdering businesswoman Vindra Naipaul-Coolman in 2006. The State was ordered to pay over $20 million in a default judgment.

A day after the judgment was delivered by High Court Master Martha Alexander in January, Armour said the case file had “disappeared” from the Office of the Solicitor General. The file mysteriously reappeared. John and Schullera-Hinds were also mandated to enquire into and examine procedures at the AG’s Office and its civil law department and make recommendations to improve management and conduct of civil cases.

UNC Senator Jayanti Lutchmedial told media said if the government was “serious about treating with these issues and being accountable to the population about what they have discovered out of this entire scenario, they must disclose this report to the public.”

She said Armour and the Prime Minister did not pay for that report but, “We, the taxpayers of this country. Therefore, we deserve to see it.”

She wondered why there is now secrecy surrounding the report.

She also urged the government to make public the report from the investigation into the 2021 explosion at the Pointe-a-Pierre plant of NiQuan Energy Trinidad Ltd.

“The whole of south Trinidad was rocked by an explosion and today we don’t know what came out of that investigation. They jump up hot and sweaty (saying) ‘We are investigating, we are investigating.'”

The public deserves to know what happened, especially after the recent injury and death of Massy Energy worker Allanlane Ramkissoon but the PM said the report cannot be made public because NiQuan is a private legal entity.

“Is the government not concerned about the safety and security of citizens and feel that they have (no) obligation to make findings of reports public? Can you simply continue to spend taxpayers money for a secret report? For a file that was never missing? If they had any, they’d come clean and make that report public. What’s so top secret?”

 

 

 

 

PRC seeks to strengthen trade relations

Assistant Minister of Foreign Affairs of the People’s Republic of China Her Excellency Hua Chunying had discussions at the National Library, Port of Spain.

Forging ahead in its path of modernisation, PRC is ready to work with TT as part of its global development initiative (GDI). On the sidelines of the Caricom 50th anniversary celebrations, visiting assistant Foreign Affairs Minister Hua Chunying said the success story of China’s modernisation can be an inspiration for all developing countries.

At the National Library (NALIS), Port of Spain she showed a digital book to NALIS Executive Director Paula Greene, UWI students and brothers Jesse and Lee Bailey.

She encouraged TT to implement and utilise the funding under the GDI which promotes greater cooperation and development in the areas of poverty reduction, food security, pandemic response, development financing, climate change, industrialisation and digital economy.

Bilateral relations between both countries, especially in the areas of infrastructural development have been very fruitful. This year marks the tenth anniversary of the historic visit to TT by President Xi Jinping’ and the fifth anniversary of TT’s participation in the Belt and Road initiative.

“This is a demonstration of the high importance China attaches to its relations with TT. The flagship project between both countries – the Phoenix Park Industrial Estate – has been implemented smoothly and very soon it will be put to use.”

The other ongoing projects are the new terminal building at the ANR international airport in Tobago and the Diego Martin overpass.

All these play an important role in advancing economic diversification, strengthening productivity and creating more jobs.

 

 

 

Tobago pipeline project near completion

Minister of Public Utilities Marvin Gonzales says a Water and Sewerage Authority (WASA) pipe-laying project from Signal Hill to Store Bay local Road is near completion, three weeks after the project was stopped by Tobago police.

The project was halted on June 17 when police went to the work site on Shirvan-Store Bay Local Road Connector demanding that the contractor remove all equipment, tools and tents off the road.

One day after the project was stopped, the Minister told media he believed the Tobago House of Assembly (THA) attempted to sabotage the 7.6-kilometre pipeline project, three weeks after its sod-turning ceremony.

In response , THA’s Infrastructure, Quarries and Development Secretary Trevor James accused the minister of misleading the public. He denied the THA attempted to stop the project.

The division claimed it wrote to WASA informing the authority it could not provide oversight for the pipe-laying project because of an injunction placed on the THA by the court. It asked for work to stop until June 22, when it expected the court matter to end.

It is alleged the instruction by the police to WASA’s contractor cited the injunction – granted by the High Court to the Environmental Management Authority (EMA) against the THA. That injunction stopped the THA from continuing roadworks at Shirvan-Store Bay because no authorisation for that project had been obtained from the EMA.

The THA has since challenged the injunction. It has also challenged the EMA’s jurisdiction over the project in court. Tobago ACP Collis Hazel confirmed that no directive came from his office for Tobago police to stop WASA’s operations.

WASA said it was not a party to the proceedings currently before the court. After the THA communicated to it by letter on June 16, police went to the site on June 17, insisting the contractor remove his equipment. Gonzales then vowed to take legal action against the THA for the delay of the pipe-laying project. Gonzales said the project was near completion and would be commissioned in less than two weeks.

“They are about to be doing pressure testing and culvert crossing. It has progressed nicely, unhindered by the Tobago House of Assembly or anyone with ulterior motives. We press ahead and the project is going to be commissioned on July 17.”

The project is expected to improve the water supply to approximately 15,000 people in and around southwest Tobago.

TOUCHSTONE ANNOUNCES ORTOIRE OPERATIONAL UPDATE

CALGARY, ALBERTA (July 31, 2023)

Touchstone Exploration Inc. (“Touchstone”, “we”, “our”, “us” or the “Company”) (TSX, LSE: TXP) provides an update on the construction of the Cascadura facility and Royston-1X production testing.

Touchstone has an 80 percent operating working interest in the Cascadura field and the Royston-1X well, which is located on the Ortoire block onshore in the Republic of Trinidad and Tobago. Heritage Petroleum Company Limited holds the remaining 20 percent working interest.

Cascadura

The Cascadura-1ST1 and Cascadura Deep-1 downhole safety plugs were removed on July 8 and July 9, 2023, respectively. Both wells are currently shut in, with wellhead pressures at approximately 4,100 pounds per square inch. It is anticipated that the Cascadura natural gas and liquids facility will operate between approximately 600 to 750 pounds per square inch.

On July 20, 2023 we completed the initial operational preparedness inspection of the facility with the Ministry of Energy and Energy Industries (“MEEI”) which involved a comprehensive evaluation of the facility’s infrastructure, safety protocols, and operational procedures. Following the inspection, minor modifications to optimize the facility’s performance and operational protocols were completed and the facility was mechanically complete on July 30, 2023. Pressure testing of the facility with inert nitrogen gas commenced on July 28, 2023, and is now 70% complete.

As we continue to pressure test the facility, we will finalize the electrical and instrumentation connections required to link the Cascadura facility to the National Gas Company of Trinidad and Tobago pipeline tie-in point. We are scheduling the final MEEI inspection this week prior to the introduction of initial natural gas into the system.

Royston

Production testing at Royston-1X is ongoing and the Company will update the market when testing has concluded.

Paul Baay, President and Chief Executive Officer, commented:

“Touchstone is working diligently to complete the commissioning of the facility and we are eager to commence first production. We continually strive to meet or exceed all industry regulations and guidelines and our adherence to the highest health and safety standards will continue to guide us through the completion of the facility.”

Touchstone Exploration Inc.

Touchstone Exploration Inc. is a Calgary, Alberta based company engaged in the business of acquiring interests in petroleum and natural gas rights and the exploration, development, production and sale of petroleum and natural gas. Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago. The Company’s common shares are traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol “TXP”.

For further information about Touchstone, please visit our website at www.touchstoneexploration.com or contact:

 

Touchstone Exploration Inc.

Paul Baay, President and Chief Executive Officer

James Shipka, Chief Operating Officer

Telephone: 403.750.4487