Trinidad & Tobago Oil & Gas Report

Providing expert analysis, independent forecasts and competitive intelligence on the oil and gas industry.

Report includes: BMI Industry View, Industry SWOT Analysis, Industry Forecasts, BMI's Oil & Gas Risk Reward Index, Market Summary, Economic Forecasts, Company Profiles, Competitive Landscape and Global and Regional Overview.

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Trinidad & Tobago Oil & Gas Report
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$1,295.00

BMI View: Shortages of natural gas are expected to persist until the start of the Juniper field in late 2017. These supply challenges will continue to disrupt gas exports and comes amid government concerns over the profitability of liquefied natural gas exports. The government has also called for operators to fully exploit existing acreage, suggesting the emergence of tensions between officials and upstream players. I nvestment has suffered continued delay s due to the current market conditions, underscoring the impact of low er commodity prices .

Headline Forecasts (Trinidad & Tobago 2014-2020)
2014e 2015e 2016f 2017f 2018f 2019f 2020f
e/f = BMI estimate/forecast. Source: BMI, CBTT, EIA
Crude, NGPL & other liquids prod, 000b/d 116.1 113.9 107.2 108.9 110.4 111.9 113.0
Refined products production, 000b/d 106.1 127.2 142.4 146.7 148.1 148.9 149.6
Refined products consumption & ethanol, 000b/d 45.9 46.4 45.3 44.9 45.0 45.4 45.9
Dry natural gas production, bcm 42.1 39.6 38.8 40.6 42.4 44.3 45.2
Dry natural gas consumption, bcm 22.0 21.5 21.7 22.1 22.5 22.7 23.2
Brent, USD/bbl 99.50 53.60 45.50 55.00 68.00 65.00 67.00

Latest Updates And Key Forecasts

  • T&T disclosed plans to finance a new pipeline that would carry gas from Venezuela's Dragon field, which could contain up to 339bcm of gas. The project would deliver sorely needed new supplies that could help to ease persistent shortages of gas. However the project has not yet been included in our forecasts, given uncertainty over the political and economic situation in Venezuela.

  • BPTT commenced its offshore drilling campaign in the Amherstia natural gas field in October in the Columbus basin off the southeast coast of the country. The company contracted the Joe Douglas 240C jack up rig, owned and operated by Rowan Cos., and will drill at least three development wells with hopes of achieving 6.6mcm/d of production.

  • T&T's LNG exports declined a reported 19.9% y-o-y through June. This was due to continued production shortfalls in the country, which fell by an estimated 13.8% y-o-y for the month. Exports have not shuttered, however, with the country's first cargo travelling through the newly-expanded Panama Canal to Mexico's Pacific coast in late July.

  • An increase in gas production beginning next year will support a rebound in economic growth within the country. That said, growth over the coming years will remain constrained, averaging 2.7% growth between 2017 and 2020. The dominant energy sector faces a relatively weak production outlook, while investment into non-energy sectors will be stymied by a poor business environment. Additionally, ongoing structural adjustments to address fiscal and current account imbalances will dampen public and private consumption.

BMI Industry View
7
Table: Headline Forecasts (Trinidad & Tobago 2014-2020)
7
SWOT
9
Oil & Gas SWOT
9
Industry Forecast
11
Upstream Exploration
11
Latest Updates
11
Structural Trends
11
Upstream Projects
14
Table: Trinidad & Tobago Major Upstream Projects
14
Upstream Production - Oil
16
Latest Updates
16
Structural Trends
16
Table: Oil Production (Trinidad & Tobago 2014-2019)
18
Table: Oil Production (Trinidad & Tobago 2020-2025)
18
Upstream Production - Gas
19
Latest Updates
19
Structural Trends
19
Table: Gas Production (Trinidad & Tobago 2014-2019)
21
Table: Gas Production (Trinidad & Tobago 2020-2025)
21
Refining
22
Latest Updates
22
Structural Trends
22
Table: Refining Capacity and Refined Products Production (Trinidad & Tobago 2014-2019)
24
Table: Refining Capacity and Refined Products Production (Trinidad & Tobago 2020-2025)
24
Refined Fuels Consumption
25
Latest Updates
25
Structural Trends
25
Table: Refined Products Consumption (Trinidad & Tobago 2014-2019)
27
Table: Refined Products Consumption (Trinidad & Tobago 2020-2025)
27
Gas Consumption
28
Latest Updates
28
Structural Trends
28
Table: Gas Consumption (Trinidad & Tobago 2014-2019)
30
Table: Gas Consumption (Trinidad & Tobago 2020-2025)
30
Trade - Oil
31
Latest Updates
31
Crude Oil: Structural Trends
31
Table: Crude Oil Net Exports (Trinidad & Tobago 2014-2020)
32
Table: Crude Oil Net Exports (Trinidad & Tobago 2020-2025)
33
Refined Products: Structural Trends
33
Table: Refined Fuels Net Exports (Trinidad & Tobago 2014-2019)
34
Table: Refined Fuels Net Exports (Trinidad & Tobago 2020-2025)
35
Trade - Gas (Pipeline and LNG)
36
Latest Updates
36
Structural Trends
36
Table: Gas Net Exports (Trinidad & Tobago 2014-2019)
39
Table: Gas Net Exports (Trinidad & Tobago 2020-2025)
40
Industry Risk/Reward Index
41
Latin America - Oil & Gas Risk/Reward Index
41
Table: Latin America - Composite Risk/Reward Index
41
Composite RRI: Continued Adjustments Level Off Rankings
42
Upstream RRI: Steady Scores Mask Forthcoming Shifts
43
Table: Latin America - Upstream Risk/Reward Index
44
Downstream: NOC Dominance Will Reinforce Fuels Deficit
46
Table: Latin America Downstream Risk/Reward Index
48
Trinidad & Tobago - Risk/Reward Index
49
Upstream Index
49
Downstream Index
50
Market Overview
51
Trinidad & Tobago Energy Market Overview
51
Regulatory Structure
51
Fiscal Regime
52
Table: Trinidad and Tobago - Upstream Tax Regime
52
Table: Trinidad & Tobago - Contracts & Licensing Regime
52
Licensing Rounds
52
Oil And Gas Infrastructure
56
Oil Refineries
56
Table: Oil Refineries in Trinidad & Tobago
56
Oil Storage Facilities
56
Oil Terminals/Ports
56
Table: Trinidad & Tobago - Oil Terminals & Ports
56
LNG Terminals
56
Table: Trinidad & Tobago - Existing and Planned LNG Terminals
57
Gas Storage
57
Table: Trinidad and Tobago - Gas Storage Facilities
57
Table: Trinidad and Tobago -Natural Gas Pipelines
57
Table: Trinidad and Tobago - Crude Oil Pipelines
57
Competitive Landscape
58
Competitive Landscape Summary
58
Table: Key Domestic And Foreign Players
59
Table: Key Upstream Players
60
Table: Key Downstream Players
60
Company Profile
61
Petroleum Company Of T&T (Petrotrin)
61
Table: Table: Major Upstream Assets In T&T
62
Table: Key Financial Data, USDmn
62
BP Energy Company of Trinidad & Tobago (BPTT)
63
Table: Major Upstream Assets In T&T
64
Table: Key Financial Data, USDmn
64
Regional Overview
65
Latin America Overview
65
Table: Latin America Oil and Gas Production, Refining Capacity and Trade, 2014-2025
76
Glossary
78
Table: Glossary Of Terms
78
Methodology
80
Industry Forecast Methodology
80
Source
82
Risk/Reward Index Methodology
82
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
84
Table: Weighting
85

The Trinidad & Tobago Oil & Gas Report has been researched at source and features BMI Research's independent forecasts for Trinidad & Tobago including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Trinidad & Tobago Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Trinidadian oil and gas industry.

Key Benefits

  • Benchmark BMI's independent oil and gas industry forecasts for Trinidad & Tobago to test consensus views - a key input for successful budgeting and strategic business planning in the Trinidadian oil and gas market.
  • Target business opportunities and risks in the Trinidadian oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Trinidad & Tobago.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View

Summary of BMI’s key forecasts and industry analysis, covering oil and gas reserves, supply, demand and refining, plus analysis of landmark company developments and key changes in the regulatory environment.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the upstream and downstream sectors and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series and forecasts to end-2024 for all key industry indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecast:

  • Pricing: Oil price (USD/bbl, WTI, Brent, OPEC basket, Urals); oil products prices (unleaded gasoline, gasoil/diesel, jet/kerosene – USD/bbl) at global hubs.
  • Production, Consumption, Capacity & Reserves: Proven oil reserves (bn barrels), production, consumption, refinery capacity and throughputs (‘000b/d); proven gas reserves (tcm), production and consumption (bcm) and fuels trade.
  • Imports & Exports: Crude oil exports/imports (‘000s b/d) and value of crude oil trade in USD. Fuels exports/imports (‘000s b/d) and value of fuels trade in USD. Natural gas imports/exports (bcm), by pipeline and/or LNG, and value of natural gas trade.

BMI’s Oil & Gas Risk Reward Index

BMI’s Risk Reward Indices provide investors (independents, NOCs, IOCs, oil services companies) looking for opportunities in the region with a clear country-comparative assessment of the upstream and downstream market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.

Market Overview

A profile of the upstream and downstream sectors, including analysis of reserves, output, consumption and trade of energy products; overview of the industry landscape and key players; assessment of the business operating environment and the latest regulatory developments.

Competitive landscape

Comparative company analyses by USD sales, % share of total sales, number of employees, year established, ownership structure, oil production (‘000b/d), gas production (bcm), downstream capacity (‘000b/d) and % market share.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Regional Overview

Regional perspective on size and value of the industry. Plus comparative rankings by production, refining, imports and exports of oil, gas and LNG.

Global Oil Market & Oil Products Outlook

Based on our country coverage of over 99% of global oil and gas production and consumption, BMI provides demand, supply and price forecasts to end-2024 for oil, gas and oil products.

Sources

The Oil & gas Reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.