12/02  Closing prices / revised 12/02/2022 10:38 GMT  |    11/01     OPEC Basket  $84.39  +1.26   | 11/01      Mexico Basket (MME)  $71. 08  -1.69    09/14     Venezuela Basket $83.40  (Estimated Economia Hoy)  | 12/02     WTI Texas Intermediate January CLF23  $79.98  -1.24  | 12/02     Brent January BRNF23  $85.57  -1.31  | 12/02     Gasoline December RBZ22   $2.2804  -2.6 %  | 12/02    Heating Oil  Decenber  HOZ22   $3.1685  -2.9%  |  12/02    December Natural Gas   NGZ22   $6.281 -6.8% | 12/02    Active U.S. Rig Count (Oil & Gas)    784       =0   | 12/02    USD/MXN Mexican Peso    19.4001   Live data | 12/02    EUR/USD    Live data  1.0535  Live data | 12/05     US/Bs. (Bolivar)  $11.69180000      12/02  Closing prices / revised 12/02/2022 10:38 GMT  |    11/01     OPEC Basket  $84.39  +1.26   | 11/01      Mexico Basket (MME)  $71. 08  -1.69    09/14     Venezuela Basket $83.40  (Estimated Economia Hoy)  | 12/02     WTI Texas Intermediate January CLF23  $79.98  -1.24  | 12/02     Brent January BRNF23  $85.57  -1.31  | 12/02     Gasoline December RBZ22   $2.2804  -2.6 %  | 12/02    Heating Oil  Decenber  HOZ22   $3.1685  -2.9%  |  12/02    December Natural Gas   NGZ22   $6.281 -6.8% | 12/02    Active U.S. Rig Count (Oil & Gas)    784       =0   | 12/02    USD/MXN Mexican Peso    19.4001   Live data | 12/02    EUR/USD    Live data  1.0535  Live data | 12/05     US/Bs. (Bolivar)  $11.69180000      12/02  Closing prices / revised 12/02/2022 10:38 GMT  |    11/01     OPEC Basket  $84.39  +1.26   | 11/01      Mexico Basket (MME)  $71. 08  -1.69    09/14     Venezuela Basket $83.40  (Estimated Economia Hoy)  | 12/02     WTI Texas Intermediate January CLF23  $79.98  -1.24  | 12/02     Brent January BRNF23  $85.57  -1.31  | 12/02     Gasoline December RBZ22   $2.2804  -2.6 %  | 12/02    Heating Oil  Decenber  HOZ22   $3.1685  -2.9%  |  12/02    December Natural Gas   NGZ22   $6.281 -6.8% | 12/02    Active U.S. Rig Count (Oil & Gas)    784       =0   | 12/02    USD/MXN Mexican Peso    19.4001   Live data | 12/02    EUR/USD    Live data  1.0535  Live data | 12/05     US/Bs. (Bolivar)  $11.69180000      ivar)  $11.07890000   

Trinidad & Tobago’s National Energy to target Guyana, Suriname next year – T&T Guardian

NEL Union Industrial State in La Brea, Trinidad. (National Energy)

Curtis Williams, T&T Guardian

PORT SPAIN
EnergiesNet.com 11 21 2022

In an effort to promote T&T’s Energy sector and increase export of services, state-owned National Energy has told the Business Guardian that it plans to participate in at least three major oil and gas conferences next year.

National Energy said it will be targeting the 2023 Guyana Energy Conference & Expo, 2023 Suriname Oil and Gas Summit, and the 2023 Offshore Technology Conference in Houston.

It said the participation is part of its overall strategy to grow the energy services sector which include, on-going collaboration with key stakeholders—including (but not limited to) the Energy Chamber, T&T Coalition of Services Industries (TTCSI), Ministry of Trade and Industries (MTI); operationalising of an Energy Services Export Framework and Implementation Plan; conducting on-going Market Research and Intelligence and a promotional Program —including (but not limited to) joint participation in selected events/conferences/seminars, trade missions and advertising products.

“In 2023, National Energy, along with MEEI, intends to market T&T’s energy services to jurisdictions which are attracting both established and emerging energy industries. As such, there are plans for companies under this Initiative to participate in the 2023 Guyana Energy Conference & Expo, 2023 Suriname Oil and Gas Summit, and the 2023 Offshore Technology Conference in Houston. These platforms will provide the most appropriate opportunities for maximum exposure of T&T’s offerings in the energy services sector to various countries (regionally and internationally),” National Energy told Business Guardian in an email response to several questions.

Last Friday, the government announced it had appointed National Energy as the lead agency responsible for T&T’s export promotion of Energy Services, under the direction of Ministry of Energy and Energy Industries (MEEI).

According to the press release National Energy will work closely with the Ministry of Energy and Energy Industries (MEEI), MTI, the Energy Chamber, the TTCSI, and other key stakeholders on the development and implementation of a National Energy Service Export Strategy. This strategy, the government said, will ensure there is a coordinated approach to increasing the promotion of exports of energy services, regionally and internationally.

Minister of Energy Stuart Young said, “National Energy has long been the State agency responsible for the development and promotion of energy-based industries in T&T. With their current focus on regional energy industry development and low carbon future industrial development, I have full confidence that National Energy has the appropriate capacity for developing and implementing strategies towards increasing the export of energy services regionally and internationally. The delivery of this Strategy is also part of Government’s Roadmap for Recovery Programme and will support our efforts to diversify the economy.”

Meanwhile, Dr Vernon Paltoo, National Energy’s president, welcomed the opportunity to lead the initiative, indicating, “National Energy will collaborate with key stakeholders to ensure the energy services sector contributes to the national goal of increasing total energy exports. As such, we have already developed a Draft Energy Services Export Framework and Implementation Plan, which will be operationalised in Q1, 2023.”

National Energy told Business Guardian that after its initiatives next year there will be a review of its 2023 program and continuous research and market assessment will also inform on changing market conditions and advise on countries to be targeted in the future.

Asked why National Energy felt well placed to lead this country’s export of energy services when it has not been particularly successful in the burgeoning oil industry in neighbouring Guyana, National Energy disagreed.

The company responded, “We disagree with this statement. National Energy continues to have commercial arrangements and initiatives in progress across the Region (eg Guyana, Suriname, Curacao) which includes (but not limited to) the provision of both technical advisory services and marine logistics services—two of National Energy’s main commercial service offerings.”

The company boasted that it has more than 43 years experience in the development and promotion of energy-based industries.

“As such, we have the relevant/required experience, expertise, credibility, and capacity to successfully implement this Initiative,” National Energy told the BG.

National Energy added, “T&T has competed on the global stage for more than 100 years and now has over 700 energy services companies which offer a variety of services including upstream energy services; downstream and midstream energy services, engineering and technical services and professional services.”

On the issue of the cost to the company for leading this charge, National Energy said a Budget is being developed in collaboration with the MEEI.

It added that while here is no registration involved. National Energy will work with the Energy Chamber and TTCSI to ensure maximum participation by their respective membership and participating companies, including National Energy, will be expected to share various costs.

guardian.co.tt 11 17 2022

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