Business
Trinidad and Tobago company PetroTrin finds more oil
The Prime Minister said the country must recognize this discovery did not just happen by accident or good fortune.
“Let us first be sure to accept with humility the intervention of a purpose far greater than ourselves and to give praise where praise is first due—to Almighty God for what he has bestowed upon this nation at this time,” she said.
She suggested that PetroTrin convene a day of “prayerful gratitude” to recognise the contribution of the company’s employees.
As she praised Energy Minister Kevin Ramnarine, the PetroTrin board and employees, Persad-Bissessar said this “historic discovery” will auger well for this country in many ways as she noted that oil prices are high on the global market.
Persad-Bissessar said there will be increased revenue to the state.
“This revenue will be used to boost many of the developmental projects by my government. The location and depth of the reserves will allow for earlier than usual production to begin so the benefits to be derived will impact positively on our economy sooner than ever,” she said.
The oil discovery, she said, will also be a welcome stimulation of the demand of energy services and job creation in the energy services sector.
