Guardian/Shirley
Bahadur
Wayne Bertrand, president of operations at Petrotrin,
Ken Allum, general manager of marketing and Trading
with bpTT chairman and chief executive Robert Riley
Port
Spain
Petroleumworld.com
12 16 07
Ron Hewitt, Barbados National Oil Company General Manager said on Monday, that
Chavez's Petrocaribe is not helping Caribbean countries, but making their finances
worst. " Petrocaribe is not helping at all to coup with the high oil prices,
Caribbean countries are just running a large debt with Venezuela. "
Petrocaribe
is just a scheme to create an oil dependency
from Venezuela, added Hewitt at the two-day Caribbean
Energy conference at the Hilton Trinidad in Port
Spain.
“It
doesn't’t represent what we are looking
for in Barbados. You have to pay part of the
cost now and get a credit. That credit then goes
onto your national debt. It’s not an asset;
it’s a commodity.” Hewitt said.
The
conference attended by 100 top executives, got
off early Monday with Wayne Bertrand, Trinidad's
Petrotrin, poising the question whether T&T
had reached its peak in oil and gas production.
“
Could this then be a signal that T&T has reached its peak?
If this is the case, there are serious implications for future
revenue streams and also the pace of development of new gas
based industries,” Bertrand said.
While
bpTT chairman and chief executive Robert Riley
insisted that BPTT is in Trinidad & Tobago
to stay for as long while but new incentives
are necessary to produce all the oil & gas
of country reservoirs.
Prof.
Anthony Bryan, a senior associate at the CSIS
in Washington, remained the audience once again
that Petropolitics are in the Caribbean to stay
with Chavez using oil as a political weapon.
Not unitization of the reservoirs can be execute, while Venezuela and Trinidad
are not seen eye to eye in oil policies, he added.
The
conference will continue on Tuesday with a review
of the exploration opportunities in Trinidad & Tobago
by Helena Inniss King, Director of Management
Division at the Ministry of Energy; the results
of Jamaica's 2007 blocks, by Raymond Wright of
Petroleum Corporation of Jamaica; among others
issues.
Story by
Elio Ohep from Petroleumworld
Petroleumworld 10
12 07
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