标签： Trinidad and Tobago

Prominent quarry operator and real estate businessman Danny Guerra, along with his son, was detained on November 20 under the state of emergency’s preventative-detention provisions. The arrest, linked to serious allegations involving national security, was confirmed by Assistant Commissioner of Police Richard Smith. Guerra, who was previously out on bail for alleged illegal quarry operations in Guanapo, was taken to the Eastern Correctional Rehabilitation Centre by the Special Investigations Unit (SIU). Smith stated that Guerra would likely remain in custody for the full 90 days permitted under the state of emergency while investigations continue. The detention order was issued by Minister of Homeland Security Roger Alexander, though specific details of the allegations were not disclosed. A source close to Guerra, however, claimed the detention lacked factual basis and was tied to previous quarry-related charges. The source also revealed that Guerra had made significant political donations during the April 28 election campaign, though the recipient party was not specified. Guerra’s health condition remains unknown following his hospitalization in October for complications arising from his initial arrest. The Guerra family’s legal troubles began on October 9 when Danny Guerra, his son Garvin Guerra, and 16 others were arrested during a police operation that shut down an alleged illegal quarry in Guanapo, seizing millions of dollars worth of equipment.

Finance Minister Davendranath Tancoo has reassured the public that the newly introduced 0.25% asset levy on commercial banks and insurance companies, effective January 1, 2026, will not adversely affect customers. Speaking at the ICATT conference held at the Hyatt Regency in Port of Spain, Tancoo emphasized that the Central Bank would be tasked with ensuring that these institutions absorb the levy without passing additional costs onto consumers. The levy is expected to generate significant revenue, with commercial banks and insurance companies holding combined assets of over $230 billion, yielding an estimated $5 billion and $75 million annually, respectively. Tancoo highlighted the importance of financial responsibility and equity, urging the Central Bank to maintain strict oversight. Despite concerns from critics about potential cost transfers to customers, Tancoo expressed confidence in the public’s digital awareness and ability to seek better financial options if necessary. Additionally, the government is focusing on enhancing the efficiency of the Board of Inland Revenue (BIR) and Customs and Excise to address tax evasion and reduce the budget deficit, which currently stands at 2.17% of GDP. Tancoo also mentioned ongoing efforts to modernize the BIR, aiming to improve accountability and revenue collection to support national development.

The successful completion of bpTT’s Cypre seven-well drilling program has garnered praise from both current and former Energy Ministers, underscoring its pivotal role in Trinidad and Tobago’s energy landscape. Energy Minister Dr. Roodal Moonilal lauded the project’s early delivery, noting that Phase 2’s three wells were operational ahead of their 2026 schedule. The Cypre subsea development, tied to bpTT’s Juniper platform, is expected to produce 45,000 barrels of oil equivalent daily at peak capacity, significantly bolstering the nation’s natural gas supply. Moonilal attributed the project’s success to policies enacted by the People’s Partnership government in 2014, including exploration incentives that spurred investments like the Macadamia-1 well in 2017. Former Energy Minister Stuart R Young also commended bpTT, emphasizing the project’s role in mitigating natural gas decline. Despite concerns raised by former Prime Minister Dr. Keith Rowley about declining gas production, the Cypre project represents a critical step toward securing Trinidad and Tobago’s energy future. Located 78 kilometers off the southeast coast, the Cypre gas field is wholly owned by bpTT, a joint venture of bp and Repsol.