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The Government of Trinidad & Tobago’s stated policy is “to foster and develop a peaceful, competitive and productive industrial relations climate”. The business community fully supports this policy objective and recognizes that achieving this objective is vital for the social and economic development of Trinidad & Tobago.
The most recent national labour market dataset for Trinidad & Tobago indicates the extremely surprising fact that energy sector employment increased by a staggering twenty-two percent from the previous quarter, with 4,000 additional people being recorded as employed in the petroleum sector.
Range Resources Limited plans to commence one of the largest waterflood projects ever seen in Trinidad during this year. Despite the challenging price environment, Range has confirmed that it will be making significant investments over the coming years, in the hope of establishing itself as one of the most prominent independent operators in Trinidad.
Anglo-Australian multi-national BHP Billiton has made the ground-breaking decision to classify its holdings in Trinidad and Tobago as Tier One.
The Government of Trinidad & Tobago needs to urgently start the proposed consultation process with the oil, gas and petrochemical industry. The emphasis of the consultation process must be on how upstream investment dollars are going to be attracted to Trinidad & Tobago in the context of huge cuts in global capital expenditure in the current low commodity price environment.
There are no technical barriers preventing the use of Renewables in Trinidad and Tobago. This from Acting General Manager from T&TEC Courtenay Mark during the panel discussion on Achieving 10% renewables by 2021 during the Green Energy Day at the Trinidad and Tobago Energy Conference. Meeting the target however is predicated on several changes on the regulatory and pricing side, which therefore throws the ball in the court of the regulators.
The Energy Chamber has put Trinidad & Tobago on the map for the work being done in the development of a carbon market or emissions trading system (ETS), according to Katie Sullivan, Director of the Americas, International Emissions Trading Association.
The Prime Minister urged companies both in and out of the energy sector to take the initiative and seek opportunities for expansion outside of Trinidad and Tobago.
Offshore Technology Solutions Limited (OTSL) has moved into a former steel mill in Sealots and converted it into their new fabrication facility.
Physical plants are subject to age-related degradation mechanisms. Examples of these would be classified as follows; corrosion, fatigue, wear, metallurgical transformations, non-metallic degradation, and subsistence.
The recycling movement locally has been gaining some momentum in recent years, at least in terms of awareness, even if action is still confined to a relatively small sector of the population. There are more bins and recycling points throughout the country than ever before, even if many of them are filled with rubbish.
There is an advertisement on the radio for communication training service that ends with a most dubious declaration that “It is not what you say, but how you say it”. While this statement that ‘style trumps content’ might be true in one of the hallowed governance institutions of our country where any content is allowed once one conforms to the rules of the Speaker, it is certainly not an operating principle for communications in the world of business.
Sanctity of contracts. This is probably an unexpected first line in an article advocating the need to renegotiate contractual arrangements however it is a very relevant consideration. Sanctity of contract refers to the principle that once a party enters into a contract, that party will honour its contractual obligations.
Trinidad and Tobago's energy industry is not about to expire, insists the country's leading energy producer, bpTT.
La Brea-based, local energy service company, Perfection Services Ltd (PSL), has recently been accredited by the United Kingdom Accreditation Service (UKAS) as an inspection body, and has acquired the ISO 17020 Certification for Inspection.
The Paris climate pledges submitted through the system of Intended Nationally Determined Contribution (INDC) action plans aim for global decarbonisation. The Trinidad & Tobago pledge includes the concept of a Caribbean Carbon Market (CCM) hosted by the Energy Chamber of Trinidad & Tobago. The market plan has been vetted by Bloomberg New Energy Finance and was showcased at its 2015 summit in New York City.
In addition to the real and perceived negative socio-economic effects of low oil and gas prices and record low production levels, in Trinidad and Tobago (where God is alleged to have been born/naturalised), weak macroeconomic statistics have given rise to public disagreement on whether the economy is in a recession.
Since the announcement in early December by the Governor of the Central Bank that Trinidad and Tobago has experienced its fourth consecutive quarter of negative economic growth, the “R” word is becoming more commonplace in conversations – recession.
The state sector (defined as including any entity that requires taxpayers’ money to meet the cost of its core activities), is not immune to the current harsh realities facing the country. The foreseeable economic climate, should be forcing organisations to critically examine their business model, cost structure and the way they do business.
The 60th anniversary year for the Energy Chamber of Trinidad & Tobago is coinciding with what is likely to be a very challenging year for the global energy sector and the Trinidad & Tobago economy, primarily due to the very low commodity prices.
