Shell boss urges T&T to “diversify economy rapidly”

Must Read

After more than 4 months with no election results; is Guyana’s uncertainty finally coming to an end?

Investors like stability and predictability. Knowing what to expect in the future forms the basis for multimillion-dollar investments in...

Venezuela sanctions set off fight for ‘plundered’ oil cargo

(AP) — For two months, the Malta-flagged oil tanker Alkimos has been quietly floating off the Gulf Coast of...

75% of targets at Orinduik block hold 3 billion barrels worth of light oil – Holzman

Even though the market has expressed disappointment in the heavy oil found in the Jethro and Joe wells at...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

Shell’s country manager for Trinidad and Tobago, Derek Hudson, has said the Caribbean country’s offshore oil and gas exploration and production has “only scratched the surface” but the twin island republic must diversify its economy rapidly.

Speaking at the Institute of Marine Affairs (IMA) first public lecture to mark its 40th anniversary, Mr. Hudson mentioned the ‘blue economy’, which refers to production and consumption of goods and services from, in, of and back to the sea, as a potential area for diversification.

According to the Trinidad Express, Hudson said, “When we speak for a long time about the economic diversification of T&T and the progress that we have made in our coastal waters and marine areas, it’s something that we really, seriously need to look at, as we advance this economy going forward, and even from somebody who is in the energy sector today, (I say) Trinidad needs to diversify its economy and do so quite rapidly.”

- Advertisement -

Latest News

After more than 4 months with no election results; is Guyana’s uncertainty finally coming to an end?

Investors like stability and predictability. Knowing what to expect in the future forms the basis for multimillion-dollar investments in...

TechnipFMC in major deal with Assiut National Oil Processing Company

UK-based TechnipFMC has signed a major Engineering, Procurement, and Construction (EPC) contract with Assiut National Oil Processing Company (ANOPC) for the construction of a new...

Venezuela sanctions set off fight for ‘plundered’ oil cargo

(AP) — For two months, the Malta-flagged oil tanker Alkimos has been quietly floating off the Gulf Coast of Texas, undisturbed by the high-stakes...

75% of targets at Orinduik block hold 3 billion barrels worth of light oil – Holzman

Even though the market has expressed disappointment in the heavy oil found in the Jethro and Joe wells at the Orinduik block, it should...

Brazil’s Petrobras begins decommissioning offshore platform in Campos Basin

Brazilian state oil company Petrobras says it has begun the decommissioning of the P-12 platform in the Campos Basin and will also be moving...

More Articles Like This