What is the new name for Petrotrin?

What is the new name for Petrotrin?

Petrotrin

Type Public
Founded January 1993
Defunct 30 November 2018
Successor Trinidad Petroleum Holding Ltd.
Headquarters Pointe-a-Pierre , Trinidad and Tobago

Who owns the oil in Trinidad?

These assets are owned by three companies: Anglo-French oil company Perenco owns a 70% share, and state-owned companies National Gas Company (NGC) and Petrotrin both own 15% shares.

Does Trinidad own its oil?

Only three Caribbean countries have oil and natural gas reserves: Barbados, Cuba, and Trinidad and Tobago. Of these, Trinidad and Tobago is the only significant exporter.

Who drilled the first oil well in Trinidad?

Origins The first oil well in Trinidad was reportedly drilled by Merrimac Oil Company of the USA at La Brea in 1857. However, this drilling was never proven as the Merrimac well was never found. The first recognized oil discovery is Aripero #1 drilled by Walter Darwent in 1866.

When did Trinidad discover oil?

Trinidad and Tobago (T) has a mature petroleum industry. The first oil well was drilled in 1857 in the vicinity of T’s Pitch Lake in La Brea. The first successful well was drilled in 1866 in Aripero, and commercial oil production is recorded as having begun in 1902 near the Pitch Lake.

When did BP come to Trinidad?

It formally established a local personality in 1957, when it set up BP (Trinidad) Ltd. In 1960, BP (Trinidad) acquired Apex Trinidad Oilfields, adding Kern Trinidad Oilfields the following year, thus assuming a prominent place in onshore, as well as offshore, oil production.

Does Trinidad still export oil?

In the long-term, the Trinidad and Tobago Exports is projected to trend around 2700.00 USD Million in 2022 and 2857.78 USD Million in 2023, according to our econometric models. Trinidad and Tobago mainly exports natural gas and oil (80 percent of total exports).

Does Trinidad have natural gas?

Trinidad and Tobago holds 11 trillion cubic feet (Tcf) of proven gas reserves as of 2017, ranking 36th in the world and accounting for about 0% of the world’s total natural gas reserves of 6,923 Tcf. Trinidad and Tobago has proven reserves equivalent to 14.1 times its annual consumption.

How much oil does Trinidad have left?

Crude oil reserves in Trinidad and Tobago have remained stable at around 243 million barrels since 2017.

Who are the companies that make Petrotrin oil?

Petrotrin. A third company, Trinmar Ltd was merged into the company in 2000. Trintoc was formed from the assets of Shell Trinidad Ltd., and Texaco, while Trintopec was formed when the government purchased Trinidad Tesoro a joint venture between the government and Tesoro Oil Company which was created to purchase the assets of British Petroleum.

What did Petrotrin do in Trinidad and Tobago?

Petroleum Company of Trinidad and Tobago Limited ( Petrotrin) was a state-owned oil company in Trinidad and Tobago. Its principal activities were the exploration, development and production of hydrocarbons in addition to the manufacturing and marketing of petroleum products.

Where are Petrotrin plants located in the world?

Petrotrin exported to the Caricom market with the main countries being Jamaica, Barbados and Guyana. In the early 1900s, there were several small refineries operating in Trinidad, including plants in Santa Flora (TPD 1930 -?) and Brighton (UBOT 1911-1978).

When did the Petrotrin oil refinery shut down?

On 30 November 2018, Petrotrin was shut down with the country’s largest refinery officially closed after 101 years in operation. Approximately 5,500 permanent and temporary/casual employees lost their jobs. Petrotrin has broken into four new companies that became effective from 1 December 2018: