Trinidad and Tobago Navigates U.S. Oil Licensing Decisions

Trinidad and Tobago is engaging with the Trump administration to assess the impact of canceled oil licenses targeting Venezuela on their gas projects. These projects involve Shell, BP, and Trinidad's National Gas Company. Additionally, Trinidad has awarded a lease contract to Oando for the operation of a dormant refinery.

Trinidad and Tobago is seeking clarity on how U.S. President Donald Trump's recent decision to revoke oil licenses concerning Venezuela will influence their bilateral energy projects. The Caribbean nation, represented by Energy Minister Stuart Young, is keen to secure project authorizations involving major players like Shell and BP to ensure timely gas delivery by 2027.

In parallel, Trinidad has taken a significant step forward by awarding a lease to Nigerian energy company Oando. This contract is intended to rejuvenate the country’s Point-a-Pierre refinery, which has remained inactive since 2018. The move comes as part of Trinidad's strategic efforts to bolster its energy sector.

Trinidad had been collaborating closely with Venezuela on various energy initiatives following approvals granted in 2023 by Washington. With the potential cancellation of these authorizations, Trinidad’s government is eager to know how this will affect future operations and timelines.