News

Keynote Address – Mr. Bernard Looney – (TTEC 2017)

24th January, 2017.

Thank you Dax.

Your Excellencies, distinguished guests, ladies and gentlemen, good morning

Before I begin, I’d like to take the opportunity to wish Minister Franklyn Khan a continued speedy and full recovery. Our thoughts are with him and his family.

So let me start by saying how sorry I am that I can’t be with you in person today.

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Feature Address – Hon. Minister Colm Imbert – (TTEC 2017)

23rd January, 2017

Introduction

It is my pleasure to deliver the feature address to such a distinguished audience at the Annual Energy Conference and Trade Show hosted by the Energy Chamber of Trinidad and Tobago. This annual Conference has truly developed into one of the premier energy events in the region.

Although some of our local “experts” would like us to think otherwise, as we tackle the difficult task of diversifying our economy, our energy sector will continue to be the engine of our country’s growth and prosperity for some time to come. This is why it is so important that we proactively address the issues facing the sector.

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Signing of the first Local Content Charter – (TTEC 2017)

23rd January, 2017

The CEOs of the major oil, gas and petrochemical companies in the country signed a charter today at the Trinidad and Tobago Energy Conference 2017, committing to work towards increased local content in their operations. The idea of the Local Content Charter is to create a voluntary industry-led process for companies to work together in this effort.

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Sponsor’s Remarks – Mr. Norman Christie (TTEC 2017)

23rd January, 2017

Introduction
It is my pleasure to once again be a part of this great Conference. BPTT has been a proud sponsor since inception, and I have had the privilege of actively participating for the last 6 years. Recently, one of my analysts asked me: “Since you have been delivering speeches at the conference have you seen any material improvements in the areas you have spoken about?” I told him, it was funny that he should ask because in preparation for this year’s speech I reviewed my prior speeches and concluded that there have actually been material improvements in many areas. I also confessed though, that there are a few critical problem areas that hang around like a stalker – they just never go away. So, this year as we discuss the topic of, “Building competitiveness in an evolving energy world” it is my hope that over the next year we will see positive momentum even in the persistent problem areas. If ever there was a year when it is worth solving our problems this is it, because 2017 is without a doubt a year of inflection.

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Welcoming Remarks – Mr. Vincent Pereira (TTEC 2017)

23rd January, 2017

Ladies and gentlemen, good morning and welcome to the Best Energy Conference in the Region…and that is my unbiased view!

It is indeed a pleasure to welcome you all this morning. Of course, a special welcome to all of our Regional and International visitors – and we are particularly pleased to have representatives with us from many neighbouring states. I know that many who are here are regular visitors but we also have some people here today who are visiting the country for the first time. So in addition to welcoming you to the Conference let me also welcome you to our beautiful twin-island country of Trinidad & Tobago.

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Oil and gas tax changes promised, but no clarity on timeline

21st October, 2016

In his 30th September 2016 budget statement the Trinidad and Tobago Minister of Finance, Colm Imbert, announced that the government was in the process of reviewing the country’s oil and gas taxation regime, using advice from experts from the International Monterary Fund (IMF) to help develop proposals. Minister Imbert summarised the main recommendations from the IMF, which involve the transformation of an existing tax against revenue that kicks in at US$ 50, known as Supplemental Petroleum Tax (SPT), with a new cash flow-based tax and the simplification and reduction of profit taxes. The IMF also recommended “a moderate fixed rate royalty in the order of 10-12%” to ensure a minimum income stream for the government

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Concerns about institutional capacity at the Ministry of Energy, a former Minister of Energy says, ‘It’s a serious problem’

21st October, 2016

With the three most senior and experienced public servants in the Ministry of Energy due to retire in the next few months, many leaders in Trinidad and Tobago’s energy sector are expressing concerns about a lack of capacity at the Ministry and the likely impact of these changes on key decision making. Permanent Secretaries, Selwyn Lashley and Heidi Wong, and Chief Technical Officer, Richard Jeremie, are all on the verge of retirement from the Ministry.

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Time for some decisions

21st October, 2016

The government and the energy industry in Trinidad and Tobago does not have the luxury of time if it aims to ensure a sustainable future. We need decisions in the immediate term if we are to deliver a long-term sustainable future for the energy sector.

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60th Anniversary Gala Dinner & Awards Ceremony

20th January, 2016.

The Energy Chamber of Trinidad and Tobago hosted its 60th Anniversary Gala Dinner and Awards Celebrations at the end of yet another successful Energy Conference. This event took place at the end of Day 2 of the conference was sponsored by platinum sponsors AON and Shell Trinidad Ltd.

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Speech – The Hon. Nicole Olivierre

19th January, 2016.

It is my pleasure to address this distinguished audience at this, the Trinidad and Tobago Energy Conference of the Energy Chamber of Trinidad and Tobago. This is one of the premier energy conferences in the Western Hemisphere, bringing together local and international companies to inform the Upstream, Midstream, Downstream and Services Sector, both within and outside of Trinidad and Tobago.

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Trinidad & Tobago deep-water a “Tier one” prospect for BHP Billiton

18th January, 2016.

Speaking at the annual Trinidad & Tobago Energy Conference 2016 in Port of Spain earlier today, Dr. David Rainey, President of Exploration for BHP Billiton Petroleum, confirmed that the Trinidad & Tobago deep-water represented a “tier one” prospect for the company.

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Welcome Remarks – Mr Vincent Pereira

18th January, 2016.

It gives me great pleasure to welcome you to the annual Trinidad & Tobago Energy Conference. Of course, a special welcome to all of our international visitors – And we are particularly pleased to have with us for this year’s Conference Energy Ministers from Barbados, Guyana and the Dominican Republic…..all very important energy and emerging energy players in their own right. I know that some of you are regular visitors but we also have some people here today who are visiting the country for the first time. So in addition to welcoming you to the conference let me also welcome you to our beautiful twin-island country of Trinidad & Tobago.

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Opening Ceremony Sponsor’s Remarks – Mr Norman Christie

18th January, 2016.

A year ago I stood before you and said that our industry should not let a downturn go to waste. My colleagues from the Energy Chamber also addressed lower commodity prices during their speeches. I know that not everyone heard the message though, because I have recently fielded questions from several individuals asking why no one had mentioned the storm in the industry until a few weeks ago. Well, whether people heard before or not, the truth is we still have the opportunity to take advantage of the downturn because it continues and is likely to persist for much longer. Getting the most out of this downturn is for me wholly consistent with the theme of this conference, Energy and Development.

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Feature Address – Dr. The Hon. Keith C. Rowley

18th January, 2016.

Good Morning. I am sure that a significant number of persons will agree with the view that as an oil producing country we are at a critical juncture in our existence. Whether this situation becomes a crisis or not depends on our approach to survival and managing our affairs.

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Welcome and housekeeping announcements

17th January, 2016.

Welcome to the Trinidad and Tobago Energy Conference 2016!

We look forward to your participation over the next three days!

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Regional cooperation in hydrocarbon and renewable energy sources

3rd February 2015

Integrating the natural gas resources of Trinidad and Tobago with the hydroelectric power of Guyana and Suriname into a grid to service the needs of the region for cheaper and cleaner energy is a project of the Point Lisas-based ENMAN Group proposed Wednesday to the Energy Conference at the Hyatt Regency Hotel

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Trinidad could become a solar manufacturing hub

3rd February 2015

Trinidad and Tobago has all the requirements for the establishment of the entire value chain in solar energy manufacturing.

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Press Release 7 – Fiscal incentives must drive the effort to find new sources of natural gas

28th January 2015

A group of senior executives of energy corporations say there is an ongoing need for increased fiscal incentives to drive the exploration for natural gas to meet the shortages of the present

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Press Release 6 – Energy companies remain optimistic

27th January 2015

Energy companies in Trinidad and Tobago continue to remain optimistic despite challenges of falling oil prices and global uncertainty in the market place.

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Press Release 5 – Trinidad and Tobago now a full EITI member

27th January 2015

Trinidad and Tobago is now a full member of the Extractive Industries Transparency Initiative (EITI), having complied with all requirements.

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Press Release 4 – Technology, attractive fiscal terms, good for Energy sector

27th January 2015

Continued investment in technology, in the context of a long-term plan for the energy sector will help to sustain Trinidad and Tobago’s strong position for many years ahead, according to David Eyton, Head of Technology, BP, who delivered a presentation during the Energy Conference 2015, hosted by the Energy Chamber of Trinidad and Tobago.

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Press Release 3 – Oil prices to drop lower; experts say remove fuel subsidy

27th January 2015

“Low energy prices are here to stay” and expect the oil price to hover at approximately US$30.00 per barrel rather than the US$60.00 futures prices, Non- Resident Senior Fellow, at the Peterson Institute for International Economics, Professor Avinash Persaud told the Trinidad and Tobago Energy Conference at the Hyatt hotel Monday January 26th.

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Press Release 2 – Energy companies urged to be resilient in face of low oil prices

26th January 2015

Vincent Pereira, Chairman of the Energy Chamber and President of BHP Billiton, Trinidad and Tobago said the challenges of the current low price environment makes it even more important that the energy industry has a single-minded focus on competitiveness.

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Press Release 1- Fiscal changes see resurgence in investments

26th January 2015

Finance Minister, Larry Howai said the changes to the fiscal regime to make oil and gas investments internationally competitive to attract foreign capital investment have led to resurgence in the domestic energy sector.

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Feature Address – Senator the Honourable Larry Howai

26th January 2015

Good morning.

It is indeed a pleasure to be invited once again to share some remarks with you on the state of the Trinidad and Tobago Economy.

Let me first thank and congratulate the Energy Chamber and the various organizations and sponsors of this most important two-day conference for convening this meeting of some of the best minds in and out of the industry, who represent Government, industry and academia.

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Sponsor Remarks – Norman Christie

26th January 2015

All protocols having been observed, ladies and gentlemen I wish you a pleasant good morning.

It is a pleasure to once again join you at the opening of the Trinidad and Tobago Energy Conference. BPTT has supported this conference since inception and has seen it grow to be the signature industry gathering on the Trinidad and Tobago calendar of events. When the theme of Powering Development and Ensuring Stability was decided on, commodity prices were much higher than they are today but thetheme remains extremely relevant.

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Welcome Remarks – Vincent Pereira

26th January 2015

All Protocols observed. Ladies and Gentlemen, good morning. What a great day this promises to be.

I feel very honoured to welcome you to the annual Trinidad & Tobago Energy Conference, the premier energy sector conference in the region. I would like to say a special welcome to all of our international visitors – I know that some of you are regular visitors but we also have some people here today who are visiting the country for the first time. So in addition to welcoming you to the conference let me also welcome you to our beautiful twin-island country of Trinidad & Tobago.

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Increasing Oil Production in 2014.

19th January 2015

It is difficult to find industry successes in this worrisome energy climate but something that was recently overshadowed was Trinidad and Tobago’s increase in oil production and condensate production in 2014. Albeit a tiny increase, in 2014 the sector managed to generate the first year on year increase in oil production in almost 10 years.

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Gas Trends.

19th January 2015

While Trinidad & Tobago has been struggling to reverse the long-term decline in oil production, with gas production, the struggle has been to maintain the plateau of production after the spectacular increases of the previous decade. This struggle continued in 2014.

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Diversification and the energy sector.

12th January 2015

The recent plummet of oil prices has put the issue of economic diversification in the spotlight. To date much of the discussion about economic diversification in Trinidad and Tobago has been based on the premise that a diversification strategy should be driven by Government support of new and emerging sectors. The Energy Chamber firmly believes that there needs to be a focus on established firms who are able to compete in international markets.

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What percentage of energy sector revenue comes from oil?

A note from Dax Driver, CEO of the Energy Chamber:
7th January 2015

The estimates of Government revenue from the Trinidad & Tobago energy sector for the 2013-14 financial year were set at TT$ $21.223 billion, using an oil price of US$ 80 and a wellhead gas price of US$ 2.75. We know what has happened to oil prices and the fact that they are significantly below the budgeted prices. But to what extent will these lower oil prices have effected overall revenue, given the fact that we produce about nine times more gas than oil on an energy equivalency basis? My estimate is that about a third of the energy sector revenue comes from oil.

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Trinidad & Tobago, the US shale revolution and low oil prices.

A note from Dax Driver, CEO of the Energy Chamber:
5th January 2015

The current low international oil price has led to many commentaries on future prices in the international and local media. One of the key issues that has been discussed has been the impact of the spectacular growth of US shale oil and gas production, with one widely shared analysis in the Economist in early December 2014 characterizing the drop in oil prices as “Sheiks vs shale”.

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The future of Petrotrin’s onshore production.

A note from Dax Driver, CEO of the Energy Chamber:
30th December 2014

The current low oil price environment and low refining margins, coupled with the regular media reports on oil spills, fears about possible labour unrest and concerns around significant project overruns have led many commentators to ask questions about the viability of Petrotrin, Trinidad & Tobago’s state oil company.

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Annual Awards Update.

21th December 2014

By the 7th November 2014, we received 22 submissions across the various Annual Award categories. The independent judging panel have since met and 14 submissions have been selected for final judging on the 12th January 2015. All the shortlisted organisations were invited to attend an Awards Clinic facilitated by a Consultant who coached each team individually with their final submissions and presentations to the judging panel. . It is offered free of charge to all shortlisted companies in an effort to ‘level the playing field’ among the entries and prepare them for final judging.

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Updated Agenda for the Trinidad and Tobago Energy Conference 2015

20th December 2014

Please visit our web page at http://www.ttenergyconference.org/agenda/ to view our most updated version of the Conference Agenda. View our regional and international speakers and topics of interest.

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Oil prices have fallen dramatically – what about Trinidad & Tobago’s gas prices?

A note from Dax Driver, CEO of the Energy Chamber:
19th December 2014

One of the points that has been raised by the Minister of Finance and Minister of Energy in response to concerns over falling oil prices is that Trinidad & Tobago is primarily a gas-based economy and that while oil prices have fallen below the US$80 budgeted figure, gas prices remain significantly above US$2.75 per mmbtu that was used in setting the national budget.

Based on the statements of commentators in the media and some presentations that I have seen, there is considerable confusion about this US$2.75 figure. Many commentators have assumed that it refers to the widely quoted United States Henry Hub gas price and people have used discussions from the US media about future US gas prices to express opinions on where Trinidad & Tobago gas prices are heading. This is misleading.

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Annual Awards deadline extended to Friday 7th November, 2014.

30th October, 2014.

Submissions for the Annual Awards have bee extended to Friday 7th November, 2014. For more information on the awards click here or contact Ariane Moonsie at ariane@energy.tt .