The budget forecasts government revenues of TTD 47.72 billion (USD 7 billion), based on oil and gas prices of USD 65 per barrel and USD 2.75 per million Btu, respectively. Recent industry developments in the country, particularly related to the closure of the Pointe-à-Pierre refinery and planned port infrastructure projects, were a major consideration for the country’s accounts.
Among the key takeaways from the ministry’s budget presentation were projections of 1.9% economic growth in 2018, job creation through a dry docking project in La Brea, government expenditures of more than TTD 2.6 billion (USD 3.82 million) for severance packages under Petrotrin’s restructuring and petrol prices adjustments. The price of petrol will rise by TTD 1 (USD 0.15) to TTD 4.97 (USD 0.73) per litre, while diesel will remain subsidised.
Additionally, the government named Petrotrin’s restructuring, the La Brea dry docking project and the cross-border Dragon gasfield development among its six “economic game-changers” for the year.
Air Products’s LNG liquefaction equipment deployed on Coral Sul FLNG in Mozambique has successfully passed its performance test, Air Products… Read More
Saudi Aramco has awarded a USD 1 Read More
Singapore’s Seatrium has secured a topside integration project for the FPSO Errea Wittu from Offshore Frontier Solutions, a MODEC Group… Read More
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
This website uses cookies.