Home' Trinidad and Tobago Guardian : February 19th 2015 Contents FEBRUARY 2015 • WEEK THREE www.guardian.co.tt BUSINESS GUARDIAN
ENERGY | BG9
Building Works for e TecK's New O ce Space at Tamana InTech Park
Evolving TecKnologies and Enterprise Development Company Limited ("e TecK") hereby invites the
submission of Tenders from eligible bidders for the provision of Building Works for e TecK's New
O ce Space at e TecK's Flagship Building at Tamana InTech Park.
The duration of the contract must not exceed six (6) weeks from the date of signing the agreement.
Bidding will be conducted through the Two Envelope Competitive Bidding process in accordance
with e TecK's procurement guidelines and is open to all suitably quali ed bidders.
Interested eligible bidders may obtain further information from tender documents at the o ce of
The Secretary, Tenders Committee at the following address:
Evolving TecKnologies and Enterprise Development Company Limited (e TecK)
131 Uriah Butler Highway
from 8.00 a.m. to 4.00 p.m. on weekdays, no later than Tuesday 24th February, 2015 at 4.00 p.m.
A complete set of bidding documents may be purchased by interested bidders upon payment
of a non-refundable fee of Two Thousand Trinidad and Tobago Dollars (TTD 2,000.00).
The method of payment will be cash or certi ed cheque. Only bidders who have purchased the
bid documents will be eligible to submit tenders.
A mandatory site visit is scheduled for Wednesday 25th February, 2015, promptly at 10:00 a.m.
Tenders must be depositied into the marked Tender Box at the above address. All bids must be
accompanied by a bid security of Seventy-Five Thousand Trinidad and Tobago Dollars
or an equivalent amount in a freely convertible currency. Tenders must be submitted in strict accordance
with the Tender Documents.
Tender Closing Date: Thursday 12th March, 2015 at 2.00 p.m.
e TecK does not bind itself to accept the lowest or any Tender and reserves the right to negotiate nal
price with any Tenderer.
Evolving TecKnologies and Enterprise Development Company Ltd (e TecK)
131 Uriah Butler Highway, Charlieville, Chaguanas
The head of Royal Dutch
Shell expects global oil
supplies to fall behind
demand growth as the
recent halving of crude
prices forces companies
to cut production.
In excerpts from a speech Shell chief
executive Ben van Beurden is to give at
the International Petroleum Week dinner
on Thursday evening, he said he expected
oil prices to remain volatile in 2015 as the
market struggles to find a balance.
"Seeing today s prices, supply will prob-
ably not keep pace with this growth. It
may even decline, as prices are close to
cash costs, according to consultants like
Wood Mackenzie," van Beurden said.
As projects are postponed and cancelled
around the world due to the low oil prices,
new supply could fall in two or three years,
failing to catch up with the expected eco-
"The market could tighten quickly," he
But at the same time, if US shale oil pro-
duction, the main driver of the rise in global
oil supplies in recent years,proves resilient in
the face of the lower prices, the oil price
recovery could take longer.
"Either way: The market will remain volatile
in 2015, if only because for now, OPEC shows
no sign of wanting to resume its role as swing
supplier," van Beurden said.
Oil prices have halved to around US$55 a
barrel since last June.
Prices took a sharp dip after the Organisation of
the Petroleum Exporting Countries (OPEC) decided
not to cut output in November.
Most major oil companies have slashed exploration
spending in 2015 by more than 10 per cent compared
to last year as they adjust to the low-price environ-
Shell, the largest European energy major, announced
a relatively modest three-year, US$15 billion cut in
potential spending last month as van Beurden warned
against over reacting.
Climate debate leaders
In his speech, van Beurden urged the oil and gas
sector to take a leading role in the fight against climate
change to introduce "realism and practicality" into
While criticising peers for not being vocal enough
over environmental issues, van Beurden rejected the
idea that renewable energy can replace fossil fuels
fully as the world spopulation grows and with it
demand for energy.
"Yes, climate change is real. And yes, renewables
are an indispensable part of the future energy mix.
But no, provoking asudden death of fossil fuels isn t
a plausible plan." Reuters
Shell boss sees...
world oil supply lagging demand
As projects are postponed and
cancelled around the world due to the
low oil prices, new supply could fall in
two or three years, failing to catch up
with the expected economic growth.
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