Energy

BP to invest up to US$8 billion in T&T

The arrival of the Angelin, bpTT’s 15th offshore platform in T&T, is part a ten-year development plan which will see the energy company investing up to US$8 billion in nine major projects.

Claire Fitzpatrick, who was appointed Regional President in February, unveiled some of the company’s plans during an open house session at bpTT’s corporate offices in Port-of-Spain yesterday.

She emphasised, however, the need for T&T to remain competitive within the BP Global portfolio for final successful decisions on investments.

Ministry: Well-abandonment is underway

The Ministry of Energy and Energy Industries says that pre-abandonment works on Couva Marine 2, the leaking well in the Gulf of Paria, commenced on Sunday, July 15 following completion of an appropriate well control strategy, risk assessment and the fabrication of the necessary fittings and equipment to allow for safe operations.

T&T energy pioneer Anthony Beaubrun has died

Anthony Beaubrun, one of the pioneers of Trinidad and Tobago energy sector, has died.

His family reports that he died at the Port of Spain General Hospital, days before his 83rd birthday on June 26th. 

Mourning his passing are his immediate family, wife Patricia Beaubrun, daughter Giselle Beaubrun, son Dominic Beaubrun and grandsons Robert Yeates and Jean Beaubrun.

Bp appoints new head of T&T operations

Energy giant Bp has appointed its first female to head its local office.

Claire Fitzpatrick is now the Regional President of BpTT.

She takes over from Norman Christie who was given a new position as joint head of the Bp Group Chief Executive's office.

Christie's promotion was announced back in February and took effect since April 1st.

The new Regional President of BpTT previously managed Bp's upstream joint venture interests in Australia.

She says she is looking forward to working with the BpTT team and stakeholders.

 

NGC profit up 37% to $989 million

The NGC Group has recorded profit after tax of $989 million for 2017, a 37.3% or $269 million increase above the 2016 reported profit after tax of $721 million.

Revenue increased by $2.977 billion from $10.903 billion in 2016 to $13.881 billion, driven by higher ammonia and methanol prices of 2% and 61% respectively.

A statement by the NGC says that the board and management’s agenda to re-engineer the business for sustainable growth, improved profitability and continuous industry-wide development has been successful.

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