Energy

EMA investigates "incident" involving subsea natural gas pipeline in Gulf of Paria

The Environmental Management Authority (EMA) says it is investigating an incident involving a subsea pipeline in the Gulf of Paria off Pt Lisas

The EMA said in a statement that it was alerted this morning via its hotline to the disturbance of a subsea pipeline in the Pt. Lisas Bay area.

It said the incident appeared to have occurred during ongoing approved dredging activities being carried out in preparation for the installation of a subsea natural gas pipeline to the Pt. Lisas Industrial Estate, by an oil and gas operator in the Gulf of Paria.

Seepersad-Bachan: 12.5% royalty can affect direct foreign investment in energy sector

Former Minister of Energy and Energy Industries Carolyn Seepersad-Bachan believes the announcement of a 12.5% royalty rate in the energy industry, can negatively impact direct foreign investment in the sector.

Seepersad-Bachan issued a statement today, saying the government is not taking into consideration the what this means for global competitiveness.

The following is Seepersad-Bachan's statement:

Hike in fuel prices will save government $550 million

Monday’s cut in the fuel subsidy will see government saving $550 million.

This was revealed by Finance Minister Colm Imbert following the T&T Chamber of Industry and Commerce’s annual post-budget analysis meeting with the business community.

With the price of super gasoline moving from $3.58 to $3.97 per litre and diesel increasing from $2.30 to $3.41per litre at the pumps with immediate effect, Imbert was asked how much money government expected to save having steadily removed the subsidy over continuous budgets.

Ramnarine: Minister's statements on energy sector taxes 'false and misleading'

Former Energy Minister Kevin Ramnarine says statements by Finance Minister Colm Imbert regarding the fiscal incentives of 2014 and the tax revenue from the energy sector are totally wrong and misleading.

Ramnarine says the minister’s statements and his tone will erode investor confidence in T&T’s energy sector.

The former People Partnership minister says claims that the previous administration is responsible for T&T not getting corporation tax from oil and gas companies for the next seven years are false.

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