Much has been made of the “non tax” revenue raised in fiscal 2016. As always, one has to drill deep behind any data to get the true picture.
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BP chief meets with Energy Minister
Energy Minister Kevin Ramnarine met recently with chief operations officer, Strategy and Regions, Upstream for BP Andy Hopwood. He was accompanied by bpTT president Norman Christie and vice president Giselle Thompson. Hopwood took the opportunity to update the minister about BP’s plans forT&T in the coming years such as the Juniper development and work related to the recently conclude OBC seismic over BP’s acreage.
In 2013. while speaking at the Energy Chamber’s T&T Energy Conference, Hopwood announced that the energy giant planned to invest US$6 billion in T&T in the next five years. The ministry has also estimated the total capital expenditure in the energy sector in 2014 to be over US$3 billion. This compares to 2010 when FDI in the energy sector was US$501 million.