Trinidad And Tobago Oil And Gas Profile
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  • Trinidad and Tobago contains the majority of the Caribbean's oil production. In 2010, the country produced 147,000 barrels per day (bbl/d) of oil, of which 100,000 bbl/d was crude oil, the remainder mostly consisting of natural gas liquids (NGLs).


  • 1993 - Petrotrin was incorporated to consolidate and operate the petroleum producing, refining and marketing assets of State-owned enterprises


  • The petroleum industry in Trinidad and Tobago is principally governed by the Petroleum Act (1969), The Petroleum Regulations (1970) made thereunder and the Petroleum Taxes act (1974).
  • The petroleum Act establishes a framework for the grant of licences and contracts of petroleum operations _ which include activity on land and in submarine areas underlying the countries territorial waters. Under the act, the Minister of Energy and Energy Affaris is responsible for determining the area to be made available for petroleum operations. The Minister may elect to invite applications for the rights to explore for and produce petroleum from these areas by means of competitive bidding.
  • Persons wishing to engage in petroleum exploration and production operations must apply to the Minister of Energy and Energy Affairs who may issue the following types of licences and contracts:
    • An Exploration (Public Petroleum Rights) Licence which grants the licensee the non-exclusive right to carry out the petroleum operations provided by the licence.
    • An Exploration and Production ( Public Petroleum Rights) Licence which grants the licensee the exclusive right to explore for, produce and dispose of petroleum in accordance with the terms of the licence.
    • An Exploration and Production (Private Petroleum Rights) Licence
    • A Production Sharing Contract for the conduct of petroleum operations relating to the operations relating to the exploration, production and disposition of petroleum within a prescribed area.
  • On the basis of the Petroleum Act and its subsidiary regulations, the Ministry of Energy and Energy Affairs regulates and gives broad direction and guidance to the petroleum industry.
  • The Petroleum Taxes Act is administered by the Ministry of Finance through the Board on Inland Revenue. The Act establishes the system of taxation for companies engaged in petroleum operation.


  • The largest oil producer in the country is the state-owned Petroleum Company of Trinidad and Tobago (Petrotrin). Other large producers include BP Trinidad and Tobago and BHP Billiton.Trinidad and Tobago consumed an estimated 40,000 bbl/d of oil in 2009, allowing it to export a sizable amount of its production. The United States was the primary destination, with 73,000 bbl/d exported to the United States in 2010.
  • Natural gas production in Trinidad and Tobago has climbed dramatically in recent years. In 2009, the country produced 1.5 trillion cubic feet (Tcf) of natural gas, up 7 percent year-on-year and over three times the level seen in 1999. Exports of liquefied natural gas (LNG) have facilitated this large increase in production. The country has benefited from a large amount of foreign investment, with BP Trinidad and Tobago (BPTT) accounting for about 60 percent of the country's natural gas production. Other important players in the natural gas sector include British Gas (BG) and Chevron.

Active Companies

  • Petroleum Company of Trinidad and Tobago Limited (“Petrotrin”), is an integrated Oil and Gas Company. It is a limited liability company that is wholly owned by the Government of the Republic of Trinidad and Tobago.

Crude Oils

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  • The Atlantic LNG Company, a consortium led by BP, BG, GDF Suez, and Repsol-YPF, operates four LNG trains at Point Fortin, on the south-western coast of Trinidad. The first LNG train was completed in March 1999, with subsequent trains completed in 2002, 2003, and 2006. The four trains have capacity to produce a combined 14.8 million metric tons (Mmt) of LNG per year (775 Bcf of re-gasified natural gas).
  • Atlantic LNG and the government of Trinidad and Tobago have indicated that there may be a fifth and sixth train, though currently there are no firm plans as of yet to pursue these projects. Trinidad and Tobago also has a substantial petrochemical industry to further monetize natural gas reserves.


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