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.”
Political winds have shifted.
Populists are on defence. Liberals everywhere overwhelmingly see climate change as a central issue. The US will rejoin the Paris climate accord and climate plans will stress the need for the complete and rapid decarbonisation of the global economy. It will take trillions of dollars in spending to get it done and Trinidad and Tobago is super-positioned to take advantage of the spend. Carbon pricing, no longer viewed as politically toxic, is primed for the aggressive and costly climate plans under consideration. Welldesigned carbon pricing systems will save money rather than cost taxpayers.
There are many estimates of the number of Venezuelans in Trinidad and Tobago. The government of TT registered some 16,523 Venezuelan by June 2019 in an attempt to start to formalize the process by which these immigrants participate in our labour market. In 2020 though, R4V put the number of Venezuelans in T&T at 33,400.
The need for addressing the climate crisis through the transition to decarbonised economies is gaining precedence throughout the world. Several countries have set ‘carbon neutral’, ‘net zero’, or ‘net negative’ targets and the number of private enterprises doing the same is also on the rise. The timeline and scope (types of gases) covered varies by country; for example Sweden has committed to greenhouse gas neutrality by 2045, while China is focusing on becoming primarily carbon dioxide neutral by 2060. The consensus by scientists, however, is that in order to meet the Paris Agreement goal of limiting global warming to 2˚C or lower, the global community needs to increase climate ambition reach net zero emissions by no later than 2050. Carbon neutral or net zero implies that any emission of the type(s) of greenhouse gas covered by the policy is matched or netted off by an appropriate mix of direct emissions reductions, emissions avoidance, and emissions removal and sequestration.
As a coastal country experiencing vulnerability from climate change with environmental degradation due to an increase in average temperatures, a reduction in precipitation, a rise in sea level, water scarcity and desertification, Tunisia is no stranger to the threat that climate change can, and already poses to its people and economy. Indeed, the national constitution, passed in 2014, recognizes the threat of climate change, promising its citizens the right to a healthy and balanced environment.
HYATT Parking is available for TTEC 2020 delegates on levels 2, 3 and 7. Security personnel will be on each floor to assist with parking.
Hyatt’s parking tickets only can be validated at the conference secretariat from 7:00am – 5:30pm on Monday and Tuesday, and from 7:00am – 4:00pm on Wednesday.
Additional parking is available at the Parkade and Furness CityPark. For a quick route to Hyatt from the Parkade and Furness CityPark.
Traffic Police will be stationed at the lights to assist with traffic flow and pedestrians.
December 2020 marks for me just short of eight years of membership on the Multi-stakeholder Group (MSG) Steering Committee (SC) of the Trinidad and Tobago Extractive Industries Transparency Initiative (TTEITI) as the representative for the Trinidad and Tobago Chamber of Industry and Commerce (TTCIC). It also signals the end of my journey in this capacity as I move on from the committee in 2021, to pursue other personal and professional goals.
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.
Local content has emerged as a key priority for many resource-rich developing countries, including Trinidad and Tobago. Its role in deepening and widening linkages and sustainably boosting value between the energy sector and other productive sectors of the Trinidad and Tobago economy has been a topic of continuing discussion.
BP is hosting a series of engagement sessions at their pavilion booth space.
Day 1 February 3rd, 2020:
10:40 am – 11:25 am: BPTT shaping the future
BPTT Regional President Claire Fitzpatrick and other members of the Regional Leadership Team
1:30 pm – 2:00 pm: Doing business with BPTT
Procurement and Supply Chain management team members
Learn more about doing business with BPTT, and the benefits of using the company’s new supplier database
3:40 pm – 4:00 pm: A low carbon future
Giselle Thompson VP Corporate Operations, BPTT & Muhunthan Sathiamoorthy GHG and energy efficiency expert, BP
Day 2 February 4th, 2020
8:30 am – 9:00 am: The future of energy
Shaun Hosein, Modernisation and Transformation Lead, BPTT & Kadija Hassanali, Resource Development, BPTT
11:10 am – 11:30 am: Major projects update
Michael Daniel, Project General Manager, BPTT
2:00 pm – 2:30 pm: CSR
Ronda Francis, Manager Corporate Social Responsibility, BPTT
4:30 pm – 5:00 pm: BP Renegades T-shirt giveaway
Answer BP Renegades trivia for a chance to win 50th anniversary T-shirts.