Business

Dr Farrell: Sustainability of downstream petrochemical sector under threat

A study by Dr Terrence Farrell has found that the sustainability of the downstream petrochemical sector is under threat because of uncompetitive natural gas prices. 

Dr Farrell this morning presented his year-long study of the country’s downstream sector.

The economist said both natural gas shortage and price has led to a reduction in methanol and ammonia production and a loss of jobs in the sector.

He predicted that unless there is a change in policy the sector will get to a point of no return and there will be a collapse of the Point Lisa’s Industrial Estate.

Shell agrees to pay $2.5 bn by 2019

T&T could earn as much as $10 bil­lion over the next nine years fol­low­ing the sign­ing of a deal be­tween Gov­ern­ment and Roy­al Dutch Shell.

The an­nounce­ment was made by En­er­gy Min­is­ter Franklin Khan who gave de­tails to the Par­lia­ment on Mon­day fol­low­ing more a year of ne­go­ti­a­tions. He re­vealed that Shell agreed to pay gov­ern­ment $2.5 bil­lion by the end of 2019, the mon­ey to be paid in US to the sum of US $397 mil­lion.

CAL to begin twice-weekly flights to Curacao

Caribbean Airlines has announced that it intends to start a service to Curacao on August 02, 2019, subject to approval by the Trinidad and Tobago Civil Aviation Authority (TTCAA).

The projected schedule is a twice-weekly service on Mondays and Fridays, which will depart at 11:55 am from the Piarco International Airport, Trinidad.

The return flight will leave the Curacao International Airport at 2:35 pm.

Caribbean Airlines says the flights will provide seamless connections to and from Barbados, Grenada, Guyana, New York and other destinations.

PM meets with BHP executives in Houston

Prime Minister Dr Keith Rowley on Tuesday met with Geraldine Slattery, President of BHP Petroleum and Vincent Pereira, President BHP Trinidad and Tobago at the energy company’s petroleum Headquarters in Houston, Texas.

The discussions focused on BHP’s current exploration programme and the opportunities available for collaboration with the Government of Trinidad and Tobago aimed at increasing oil and gas production.

EOG tells PM that T&T remains important part of its portfolio

Prime Minister Dr Keith Rowley on Tuesday met with Chairman and CEO of EOG Resources William Thomas at EOG Resources Heritage Plaza in Houston, Texas.

A statement by the Office of the Prime Minister said that EOG updated Dr Rowley and his delegation on their exploration and production initiatives since the prime minister’s last meeting with EOG in Houston in 2017.

The energy company is executing an aggressive drilling programme which will continue with the drilling of a number of wells over the next year and beyond.

Bilingual job application forms for Venezuelans

Venezuelan nationals seeking employment in this country after registering in the government's amnesty, are being catered for by some companies, with bilingual application forms.

Among those companies is Prestige Holdings, which has now adapted its forms with Spanish translations to ensure that the Venezuelan nationals could understand.

Prestige Holdings is the parent company of Subway, KFC, Pizza Hut, TGI Fridays and Starbucks.

The registration process runs from May 31 to June 14.

Jamaica's economic turnaround

Fol­low­ing decades of eco­nom­ic stag­na­tion, the largest Eng­lish-speak­ing coun­try in Cari­com has wit­nessed an eco­nom­ic turn­around, with grow­ing lev­els for­eign ex­change, four years on un­in­ter­rupt­ed growth and un­em­ploy­ment now at its low­est in the coun­try's re­cent his­to­ry. Ja­maica's econ­o­my has roared back and it was done on the back of a strin­gent IMF pro­gramme.

In an ex­clu­sive in­ter­view with the Busi­ness Guardian's Hema Ramkisson the coun­try's Fi­nance Min­is­ter ex­plained the se­cret to a re­al turn­around.

Hinds: Air Guard chopper back in service next month

One of the Gov­ern­ment’s four ground­ed AW139 he­li­copters is ex­pect­ed to be­come ser­vice­able with­in the next month, with two more short­ly af­ter, as well, says act­ing Na­tion­al Se­cu­ri­ty Min­is­ter Fitzger­ald Hinds.

He gave the re­ply in the Sen­ate on Tues­day fol­low­ing query by Op­po­si­tion sen­a­tor Wade Mark.

Hinds said the he­li­copters were ground­ed in June 2017 be­cause of the “ex­treme­ly high cost” of main­tain­ing them as mil­i­tary he­li­copters cost over $150 m a year.

PM flies out this weekend for energy meetings

Prime Minister Dr Keith Rowley will leave the country this Sunday for a series of meetings with energy companies that operate in Trinidad and Tobago.

The prime minister told today's post-Cabinet news conference that he will lead a government delegation for meetings that will take him out of the country for 10 days.

He will first go to Holland where he will meet with officials of Shell.

From Holland, the PM and team will journey to London for meetings with Bp officials.

He will also meet with nationals of Trinidad and Tobago in London.

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