Exxon-Mobil’s Payara-2 Find

Guyana’s Payara-2 discovery increases Stabroek block reservoir potential.

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Methanol Holdings to Close Two Plants

March 8, 2017, Oil and Gas Journal – Global methanol prices could rise following a report from Methanol Holdings (Trinidad) Ltd. (MHTL) that it will shutter two of its methanol plants in Trinidad and Tobago because of ongoing natural gas curtailments in the Caribbean twin-island nation. The announcement comes in the midst of protracted negotiations…

BP Anounces Major Find

BP-Press Release June 2, 2017 – BP Trinidad and Tobago (BPTT) today announced that it has made two significant gas discoveries with the Savannah and Macadamia exploration wells, offshore Trinidad. The results of these wells have the potential produce to approximately 2 trillion cubic feet (tcf) of gas. The Savannah exploration well was drilled in…

Domestic Economic Activity

(Central Bank of Trinidad & Tobago, March 2017) Energy Sector The energy sector experienced declining economic activity in the second half of 2016.  Weakness in the energy sector reflected contractions in crude oil, natural gas, LNG and petrochemical production which outweighed increases in petroleum refining.  The Central Bank’s Quarterly Index of Real Economic Activity (See…

Overview & Outlook

(Central Bank of Trinidad & Tobago March 2017) Amidst low commodity prices, uncertainty about the full implications of Brexit and the outcome of the US elections, the global economy grew modestly during the latter part of 2016. On November 9, 2016 following the US elections, minor disruptions occurred in some financial markets. However, the negative…