Minister:
More oil incentives to come
Port Spain
Petroleumworldtt.com
12 16 07
MORE incentives for energy companies to increase oil and gas exploration may
be coming soon.
Minister of Energy Conrad Enill said this was
one of the top priorities of the ministry.
He said the standing committee on energy met on
Monday to discuss the review of fiscal incentives
and added that talks will continue into the new
year.
In November bpTT chairman and chief executive
officer Robert Riley said that with the appropriate
tax incentives, his company could get production
up.
Enill was speaking at an all-day energy workshop
in Port of Spain yesterday where he discussed issues
relevant to the energy sector with representatives
from the industry.
Addressing the issue of oil companies retrenching
staff Enill said:
"Clearly
all companies all the time who are involved in
commercial activities look at their
objectives and determine whether they are meeting
those objectives...layoffs to me is the function
of people doing work differently. I don't see how
a company which is seeking to shift its business
focus to be more relevant to the world as it sees
it for a competitive change is anything out of
the ordinary, it happens all the time."
Enill confirmed that an oil audit will be conducted
in the first quarter of 2008. The ministry will
issue tenders to conduct the audit early next year.
Story
by Kimberly Castillo from
Trinidad Express
Trinidad
Express
Wednesday, December 12th 2007
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