News

Trinidad’s Energy Sector Rebounds

By: Caribbean Journal Staff - February 3, 2014

Above: Port of Spain (CJ Photo)

By the Caribbean Journal staff

The energy sector in Trinidad returned to positive growth in the last quarter of 2013, according to data from the country’s Central Bank.

The bank said the growth came following the September completion of “significant, coordinated maintenance works by the two major natural gas producers and the downstream industry.”

Natural gas output saw 8 percent growth compared to the third quarter, while methanol and ammonia production were up 20 percent and 11 percent quarter-over-quarter, the bank said.

“This rebound in the energy sector, coupled with the expected continued growth in the non-energy sector, suggests that the domestic economic recovery is continuing to gain traction,” the bank said in a statement.

While the country’s series of oil spills did lead to oil output, they “did not adversely affect production activity in the energy sector” last quarter, however.

“Notwithstanding the environmental effects of the oil spills in the Gulf of Paria which are yet to be fully assessed, the loss of output did not significantly affect activity in the oil sector,” the bank said.

Initial reports suggested the spill of nearly 7,500 barrels of oil, which is about 10 percent of the average daily oil production in the fourth quarter, the bank said.

Popular Posts all-inclusive montego bay resort by marriott

Marriott Just Opened Its New All-Inclusive Resort in Montego Bay 

Marriott has continued its rapid expansion into the Caribbean all-inclusive space with the debut of its newest adults-only resort in Montego Bay: the new Hideaway at Royalton Blue Waters, An Autograph Collection All-Inclusive Resort.  The 352-room resort is part of […]


Yes, You Can Stay at an All-Inclusive Resort in St Thomas, USVI

the beach at the bolongo bay resort

The Bolongo Bay Beach Resort on St. Thomas may be the most popular all-inclusive resort you’ve never heard of. It’s not that the resort itself isn’t well-known: this family-run and managed, beach resort has been in business since 1974. But […]


The 15 Best Spa Resorts in the Caribbean

como parrot cay

Resort spas have become almost as common as fitness centers on amenity lists, but while it’s simple enough to carve out some space for a few treatment rooms, there are some spas that offer a true “experience” to go along […]


Related Posts riu cancun

Frontier Airlines Just Restarted This Nonstop Flight to Cancun 

Another day, another Frontier Airlines flight to Cancun. The fast-growing carrier has restarted another nonstop route to the Mexican Caribbean hotspot, this time with daily nonstop service from Detroit.  Detroit-Cancun flights are now operating once every day, with intro fares […]


The Grand Cayman Marriott Is Getting New-Look Rooms (And Some With Bunk Beds)

people floating on seven mile beach

One of the Cayman Islands’ signature places to stay is getting an upgrade: the Grand Cayman Marriott Resort.  The Seven Mile Beach property has begun what it’s calling an “extensive renovation of rooms and suites,” according to a statement from […]


Tiger Woods Is Making His Golf Return in Nassau 

the albany golf course with bunker

Tiger Woods is set to make his return to professional golf at his HERO World Challenge tournament in Nassau.  Woods has not played since the 2023 Masters, from which he withdrew in the third round and then underwent fusion surgery […]


SUBSCRIBE!

Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.


No. Thank You