Home' Trinidad and Tobago Guardian : May 9th 2013 Contents BG18 |COMMENTARY
BUSINESS GUARDIAN www.guardian.co.tt MAY 2013 • WEEK TWO
The energy sector accounts for 42 per
cent of T&T s gross domestic product
(GDP), the bulk of our foreign
exchange receipts as well as 80 per
cent of the country s exports.
Any upswing in the price or production of our
energy commodities will send positive signals to the
national economy, and conversely, any downswing
will have a negative impact on the national economy.
Keeping a close eye on shifts in the production and
prices in the sector is therefore critical and below
are a few key statistics to take into account.
Total crude production in T&T continues to follow
its consistent downward path. In fact total production
has been declining since 1980.
The year 2010 marked the first year in the country s
history that production fell below 100,000 barrels
of oil per day. This negative trend continues today
as evidenced by a 4.0 per cent decline in average
crude and condensate production between 2011 and
2012 (See Figures 1 and 2).
Crude and condensate production for Q1 2013
averaged 82,833 barrels of oil per day---3.2 per cent
improvement in its value for the same period in 2012.
The decline in production is due largely to maturing
fields and drier gas being produced.
As it relates to natural gas, total natural gas pro-
duction went through a series of sustained fluctuations
over the past two years and it began to visibly fall
off from July 2011 (see Figure 3). This marked the
start of the platform maintenance and upgrade pro-
grammes undertaken by upstream companies (most
notably bpTT), which resulted in disruptions in natural
Natural gas production amounted to 45266 mmscf
per day during January to November 2012 -- a two
per cent reduction from its amount in the comparative
period in 2011.
In January 2013, natural gas production reached
its highest level since July 2012. Natural gas production
in January amounted to 4439 mmscf/d when com-
pared to its July production level of 4468 mmscf/d.
Refer to Figure 3.
Activity in the upstream sector has seen some
marginal improvements over the past four years, as
evidenced by the increase in the average number of
rigs deployed. In 2012, there were 11 land and marine
rigs on average -- the highest since 2007. The BAYF
Slant Rig #2, Rowan Gorilla 111 and PTRIN Rig #1
rigs are no longer in use for the months of January
and February 2013.
This accounts for the fall in rig activity from a
The Head O ce
Caribbean Food Safety Centre
Caribbean Industrial Research Institute (CARIRI)
Tunapuna Post O ce, Tunapuna
Caribbean Food Safety Centre
Caribbean Industrial Research Institute
UWI Campus, St. Augustine
Phone: (868) 662-7161 Fax: (868) 662-7177
f @cariri.com or firstname.lastname@example.org
For further information on having a
Food Safety Audit conducted at your facility please contact
the Caribbean Food Safety Centre (CFSC) as follows:
Food safety refers to the degree of assurance and
con dence that food will not cause sickness or harm to the
consumer, when it is prepared, served and eaten according
to its intended use.
Food-borne illness continues to be a serious issue not only
locally, but also worldwide. Every day, there are people
who become ill and sometimes die from consuming
contaminated food. While the level of infection
varies from person to person, all illness and their
repercussions are cause for concern.
By having a food safety audit conducted at
your establishment, the risk of food borne
illness can be drastically reduced
amongst consumers. A food safety
audit can do the following:
It helps manufacturers identify
and eliminate gaps in their food
safety management system
Assists in team-building within
the organization by allowing
di erent departments to work
together to achieve corrective
actions and close out on
Ensures that all employees are
using best practices which
improve processes and
Food safety audits ensure that
pre-requisite programs are
functioning properly and are also the
building blocks to a solid HACCP
As more and more consumers are also becoming
aware of food safety issues, it is imperative that food
handlers practice the proper techniques in food
preparation, holding and distribution.
Energy sector at a glance
monthly high of 14 rigs in
November 2012 to 9 rigs
in January- February this
year. Refer to Figure 4.
In the medium term we
can expect to see even
greater levels of upstream
activity prompted by the
upcoming competitive land
and offshore bid rounds. The
competitive land bid rounds
commenced in April 2013
and is scheduled to close in
August this year.
Continued on Page 19
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