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Small oil companies want further changes to SPT

In the 2019-2020 budget presentation, Minister Imbert announced some changes to the fiscal environment under which the oil and gas companies operate, but more so oil. Many oil producers have lobbied for the government to adjust the Supplemental Petroleum Tax (SPT) to make it less burdensome. When the Minister announced the changes, at first glance it seemed like a positive change, however the Minister also announced changes to the capital allowance schedule for energy companies involved in exploration and development. The result will have a negative impact for companies in the oil sector. Paul Baay, President and CEO of Touchstone Exploration said in an interview, “We’re definitely in a worse position than we were before the budget.”

https://energynow.tt/blog/small-oil-companies-want-further-changes-to-spt

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Statement by The Joint Chambers of Commerce and Confederation of Regional Business

The Joint Chambers of Commerce, in collaboration with the Confederation of Regional Business Chambers, recognize that this is an unsettling time for everyone. It also presents a unique and challenging business environment, and this is likely to be exacerbated by the necessary restrictions on the movement of people.

In particular, we acknowledge the advent of Covid-19 creates an unusual set of circumstances for families. This is a human issue that demands a human response, and we must work collectively to ensure that families are supported and secure during this period of uncertainty. The Chambers are deeply committed to keeping our people safe and healthy and to stopping the spread of the virus.

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Shell T&T gets approval for Colibri development

Shell Trinidad and Tobago announced that the company has taken Final Investment Decision (FID) for the development of Block 22 and NCMA-4 in the North Coast Marine Area (NCMA).

This development project, Colibri, is expected to add a total of 43,100 barrels of oil equivalent per day (boe/d) (250 mmscf/d of gas production) through a series of four subsea natural gas wells.

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People in Energy: Mark Laughlin, CEO, ProCom

Mark talks about diversifying the company and the challenges in accessing foreign exchange. He also discusses COVID-19

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