The Trinidad and Tobago Chamber of Commerce (TT Chamber) recently hosted its annual post-budget meeting at the Le Rêve Conference Centre in San Fernando, marking a historic milestone in its mission to strengthen engagement with the nation’s business communities. Under the theme *Unlocking TT’s Next Generation Economy*, the event emphasized the Chamber’s commitment to fostering economic resilience and diversification in a volatile global landscape.
分类： business
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BpTT report: Cypre project entering next phase
bpTT, a subsidiary of BP, has made significant strides in its gas development projects in Trinidad, marking a new chapter in the country’s energy sector. Recently, bpTT President David Campbell and Executive Vice President of Gas and Low Carbon Energy William Lin met with Trinidad and Tobago’s Prime Minister Kamla Persad-Bissessar to discuss the progress of two major initiatives: the Cypre gas field and the upcoming Ginger project. The Cypre field, operational since March 2025, is bpTT’s third subsea development, featuring seven wells connected to the Juniper platform via flexible flowlines. Located 78 kilometers off Trinidad’s southeast coast, the field has successfully completed its startup phase, with phase two’s subsea equipment now ready for deployment. The Seven Arctic subsea construction vessel, arriving from Norway, will commence offshore operations in late 2025, further advancing the project’s innovative and reliable framework. Meanwhile, the Ginger project, expected to produce first gas by 2027, will include four subsea wells linked to the Mahogany B platform. At peak production, the field is projected to yield 62,000 barrels of oil per day. Campbell and Lin also toured bpTT’s Galeota and Beachfield facilities, which process offshore gas and liquids for midstream and downstream supply. Campbell emphasized the importance of strong government partnerships, having met with key ministers to discuss unlocking value for Trinidad’s energy industry. ‘Building strong country relationships is foundational to delivering our strategy,’ Campbell stated, underscoring bpTT’s commitment to collaborative progress.
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Ansa McAL appoints Attzs, Pemberton to board
ANSA McAL Ltd has unveiled significant changes to its leadership structure, appointing Dr. Marlene Attzs and Joel ‘Monty’ Pemberton to its board of directors, effective November 1. The announcement, filed with the TT Stock Exchange on October 22, highlights the company’s commitment to strengthening its governance framework. Dr. Attzs, a distinguished development economist and lecturer at the University of the West Indies, brings expertise in sustainable development, climate resilience, and disaster-risk management. Pemberton, a seasoned energy-sector executive, offers extensive regional and local experience. These appointments come as ANSA McAL navigates a transformative phase, marked by strategic acquisitions and financial recalibration. The company’s latest financial disclosure revealed a 14% decline in profit after tax for the first half of 2025, totaling $310 million compared to $362 million in the same period of 2024. However, second-quarter revenue surged by 12% year-on-year to $1.99 billion, with profit before tax climbing to $217 million from $189 million. Earnings before interest, tax, depreciation, and amortization (EBITDA) also grew by 31% to $409 million. In March 2025, ANSA McAL announced a three-year suspension of dividend payments to channel capital toward expansion and debt reduction, following its $327 million acquisition of Bleachtech LLC, a U.S.-based chlor-alkali manufacturer. Despite initial share price fluctuations post-announcement, the company’s diversified business model and robust balance sheet have since stabilized investor confidence. ANSA McAL, a conglomerate with interests spanning automotive, beverages, construction, financial services, and utilities, remains focused on long-term regional growth and portfolio diversification. The roles of the new board members in specific committees or additional responsibilities have yet to be disclosed.
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UWI teams up for green hydrogen project
In a landmark move toward sustainable energy innovation, the University of the West Indies (UWI) has entered into a strategic partnership with Japan’s Niterra Co Ltd and Trinidad and Tobago’s Kenesjay Green Ltd (KGL). The collaboration, formalized through a Memorandum of Understanding (MoU) signed on October 15 at UWI’s St Augustine Campus, aims to revolutionize green hydrogen production through advanced Solid Oxide Electrolyser Cell (SOEC) technology. This high-temperature electrolyser system, developed by Niterra, boasts a 30% higher efficiency compared to traditional methods, leveraging steam to generate hydrogen and oxygen. Trinidad and Tobago’s robust petrochemical infrastructure and access to process waste heat at the Point Lisas Industrial Estate make it an ideal location for Niterra’s pilot study. The initiative aligns with UWI’s Hydrogen Research Collaborative (H2RC), established in 2023 to foster academia-industry partnerships in building a viable hydrogen economy for the Caribbean. The partnership will establish a green hydrogen centre of excellence, conduct model-based studies, and develop a dedicated hydrogen laboratory at UWI. The project will also involve the installation and operation of production-scale SOEC electrolysers, with real-world performance data collected over two phases to scale up green hydrogen generation. The MoU was signed by Koichi Arimitsu of Niterra, Dr. Graham King of UWI, and Philip Julien of KGL, with key stakeholders from the Energy Chamber of Trinidad and Tobago in attendance. This collaboration marks a significant step in Trinidad and Tobago’s transition to sustainable energy, positioning the nation as a regional leader in green hydrogen research and low-carbon innovation.
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Request for Applications: For Grants, Loans, and Interest Subsidization Pilot Programme by UNDP
The Entrepreneurial Development Programme (EDP), in partnership with the Antigua and Barbuda Investment Authority (ABIA) and the United Nations Development Programme (UNDP), has unveiled the Innovative Finance Pilot Programme. This groundbreaking initiative seeks to bolster local businesses by reducing borrowing costs and enhancing access to financial resources through a mix of grants, loans, and interest subsidies. The programme is a key component of broader efforts to foster financial inclusion and sustainable economic growth in Antigua and Barbuda.
Eligible participants include Small and Medium-sized Enterprises (SMEs), Youth Entrepreneurs aged 18 to 35, and Female Business Owners. Applicants must operate registered businesses that contribute to local employment and economic development. Selected participants will benefit from complimentary training and mentorship in financial literacy, business planning, and entrepreneurial development, equipping them with the tools to scale their ventures.
Application forms are available at the EDP Office, located in the Sagicor Financial Centre, St. John’s. Submissions must include a cover letter referencing the UNDP Pilot Programme and must be received by October 31, 2025. Interested individuals are urged to apply promptly to seize this transformative opportunity.
The UNDP, operating in 170 countries and territories, champions sustainable development and inclusive growth. The EDP focuses on providing financial access to small entrepreneurs, while the ABIA drives investment and business development in Antigua and Barbuda. Together, these organizations aim to create a thriving entrepreneurial ecosystem in the region.
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US flagged Mohameds, other gold dealers for smuggling during APNU+AFC government- Former Natural Resources Minister
Former Natural Resources Minister Raphael Trotman has disclosed that the United States Federal Bureau of Investigations (FBI) shared critical intelligence on gold smuggling activities with Guyana’s APNU+AFC administration. Trotman confirmed that prominent gold dealers, including Azruddin Mohamed and his father Nazar “Shell” Mohamed, were flagged in these investigations, though they were not the primary focus at the time. The US authorities were primarily concerned about the proceeds of Guyana’s gold being used to undermine US national interests, rather than violations of Guyanese laws. Trotman emphasized that the briefings were highly confidential and did not involve specific requests for action from the Guyanese government. He also highlighted the APNU+AFC’s efforts to combat gold smuggling, citing a significant increase in gold declarations between 2015 and 2020. However, annual gold declarations have declined since 2020, influenced by factors such as weather conditions, taxation policies, and fluctuating international gold prices. Vice President Bharrat Jagdeo has recently called for a comprehensive investigation into the alleged involvement of government officials in gold smuggling, with the Guyana Revenue Authority and the Guyana Police Force leading the probe. The US Treasury Department’s Office of Foreign Assets Control (OFAC) has already sanctioned the Mohameds for allegedly evading over $50 million in taxes and bribing government officials to facilitate illicit gold shipments. Despite these allegations, no Guyanese government officials have been charged in connection with the case.
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ABHTA Chair: Antigua Should Pursue Quality, Not Quantity, in Tourism Growth
Antigua and Barbuda must shift its tourism strategy to prioritize high-spending visitors and emphasize quality over quantity to ensure the industry’s long-term sustainability, according to Craig Marshall, Chairman of the Antigua and Barbuda Hotels and Tourism Association (ABHTA). Speaking on the government’s weekly program ‘Government in Motion,’ Marshall highlighted that the nation’s tourism sector has matured to a point where growth should be evaluated not just by visitor numbers but by the economic value generated. He stressed that Antigua and Barbuda’s identity as a luxury destination should be embraced, with efforts made to distribute tourism benefits more broadly across communities. Marshall noted that the island’s primary markets, the United States and the United Kingdom, have shown steady growth of 6% and 4%, respectively. However, he emphasized that the focus should remain on delivering exceptional experiences rather than pursuing mass tourism. The government’s recent initiatives, such as reopening the Barbuda International Airport and securing new airlift agreements, aim to bolster high-end, sustainable tourism. Additionally, training programs led by the Ministry of Tourism and the Antigua and Barbuda Hospitality Training Institute are equipping local workers to meet international standards. Marshall also underscored the importance of investing in human capital and environmental stewardship to maintain the islands’ luxury appeal. He pointed out that modern travelers increasingly seek authentic experiences that blend comfort, culture, and sustainability. ‘Every aspect of the visitor experience, from our people and service to our natural environment, must reflect quality,’ Marshall said. ‘That’s what will keep Antigua and Barbuda ahead.’
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Commercial sector urges adherence to building standards regardless of nationality
In a significant move to bolster safety and regulatory adherence, ten prominent trade associations in Santo Domingo, representing hundreds of businesses in the formal commercial sector, have released a joint declaration. The coalition reaffirmed its dedication to strict compliance with Dominican building regulations, emphasizing the importance of structural integrity in commercial establishments and the safety of consumers. The statement also expressed unwavering support for the Ministry of Housing and Buildings (MIVED) and other regulatory bodies in enhancing oversight and control mechanisms for commercial structures. The coalition called on businesses, developers, contractors, engineers, architects, and local authorities to maintain the highest standards of compliance. ‘Adhering to building regulations is not just a legal requirement but a fundamental necessity for consumer safety, business competitiveness, and societal well-being,’ the coalition asserted. Among the participating organizations are Fedocamaras, FDC, Codopyme, ANI, Adoimfe, ONEC, Asecensa, Anamara, Ancodomu, and UNE. They underscored the commercial sector’s pivotal role in driving economic growth, job creation, and urban development, while stressing that such progress must align with rigorous legal and technical building standards. The associations highlighted that these regulations, crafted by qualified academic and technical experts, are designed to ensure structural security, safeguard human lives, and maintain service continuity, even in the face of natural disasters or aging infrastructure. Compliance is mandatory for all establishments and extends protection to customers regardless of nationality. The coalition concluded by emphasizing that strict adherence to building regulations is vital for protecting lives, preserving public trust, and fostering fair competition within the commercial sector.
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TotalEnergies meldt 23% voortgang olieproject Blok 58 aan president Simons
President Jennifer Simons of Suriname received a comprehensive update on the progress of the GranMorgu oil project in Block 58 during a meeting with a delegation from TotalEnergies and Staatsolie on Tuesday. The delegation, led by Javier Rielo, Senior Vice President Americas for Exploration & Production at TotalEnergies, alongside Staatsolie Director Annand Jagesar, confirmed that the project is proceeding on schedule and within budget, with 23% of the work already completed. Jagesar highlighted the project’s adherence to its timeline and the ‘very positive developments’ in local content involvement, noting that two Surinamese ports and several local companies are actively participating in the preparatory work. He also pointed out that Surinamese businesses are currently ahead of their counterparts in Guyana in terms of engagement. President Simons emphasized the importance of leveraging the oil sector as a catalyst for broader national development, urging proactive planning to meet the anticipated demands for food, services, and logistics from the oil industry. She stressed the need for sectors like agriculture and tourism to benefit from the outset. Jagesar echoed this sentiment, calling for immediate policy measures to strengthen agriculture and vocational training, highlighting that only 7% of the workforce holds a higher education degree—a figure significantly lower than in developed economies. He cited initiatives by the Foundation for Labor Mobilization & Development to train youth and individuals from disadvantaged neighborhoods as welders for local content roles as an example of necessary workforce development.
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NAMILCO, govt discussing cassava flour production; company to invest GY$10 billion
In a landmark development for Guyana’s agricultural sector, the National Milling Company of Guyana (NAMILCO), an American-owned entity, has unveiled plans to invest GY$10 billion in expanding its flour production capabilities. The investment includes the construction of a state-of-the-art processing mill, enhanced wheat storage facilities, and an upgraded wharf to meet both domestic and export demands. The announcement was made during a meeting between NAMILCO executives and Guyana’s President Dr. Irfaan Ali, alongside key government officials. The project, set to commence in early 2026 and operational by 2027, aims to bolster Guyana’s agri-industrial development and contribute to regional food security. Additionally, NAMILCO is collaborating with the Guyanese government to explore the commercialization of cassava flour, a move designed to diversify the country’s flour offerings and enhance agricultural innovation. This initiative aligns with the Food and Agriculture Organization’s (FAO) recommendations on cassava as a strategic crop for food security. The company also highlighted plans to create significant employment opportunities and introduce advanced training programs to develop local expertise in milling operations. Beyond flour production, NAMILCO’s parent company, Seaboard Corporation, is evaluating opportunities in integrated pork production and liquefied natural gas (LNG) distribution, signaling a broader commitment to Guyana’s economic growth. This investment builds on the success of NAMILCO’s Mixing Plant, inaugurated in 2023, which marked a significant step in value-added food production in Guyana. Seaboard Corporation, a Fortune 500 company, continues to reinforce its legacy of driving sustainable growth and food security through strategic investments and partnerships.