News and Articles

Mining for Transparency in this Guava Season: Engaging Quarry Operators in the EITI

  By Nazera Abdul-Haqq Policy Coordinator, TTEITI Secretariat   As Trinidad and Tobago weathers this guava and rainy season, the country is looking for every cent and environmental issues, such as severe flooding, seem all the more relevant. With this in mind, would it make sense to keep a focused gaze on an industry that […]

Press Release: Guyana Accepted Into Extractive Industries Transparency Initiative (EITI) Global Movement

The Trinidad and Tobago Extractive Industries Transparency Initiative (TTEITI) Steering Committee congratulates the Government and people of Guyana after the country was officially accepted as a member of the Extractive Industries Transparency Initiative (EITI) today at the 38th EITI Board meeting in the Philippines. The EITI is the global gold standard for resource revenue transparency […]

EITI and Sustainable Development Goals

  By Gabrielle Rawlins, CSO Liaison and Communications Officer, TTEITI Secretariat   Introduction The term ‘sustainability’ has become a catch phrase to capture everything from conservation to effective management of resources. But, sustainability is broader than these concepts. In its attempt to create a global target for sustainable development, the United Nations (UN) in 2000 […]

Press Release: "Fake Oil Scandal" and the EITI

“Fake Oil Scandal” and the EITI   Press Release The recent public outcry over the alleged ‘fake oil scandal’ has raised serious questions about how well the country captures information on its oil and gas production and its resulting revenues. As an agency that independently reconciles energy sector production and revenue data, the Trinidad and Tobago […]

EITI is unmasking oil and gas production discrepancies

How well does Trinidad and Tobago monitor its oil and gas production? The recent “fake oil” allegations at Petrotrin has helped focus public discussion on this often overlooked national issue. There are billion dollar ramifications if the country does not correctly quantify its oil and gas production, particularly in the current environment of low global […]

Press Release: Stakeholders Join Together to Promote Natural Resources Revenue Transparency and Accountability at the TTEITI MOU Commitment Ceremony

Stakeholders Join Together to Promote Natural Resources Revenue Transparency and Accountability at the TTEITI Commitment Ceremony    Press Release On Thursday September 7 2017, the Government, leaders of extractive companies and of civil society organizations, joined to commit to the signing of a Memorandum of Understanding (MOU). The signing of the MOU will commence the preparation […]

Press Release: TTEITI Capacity Building Workshop

TTEITI Capacity Building Workshop   Press Release The Trinidad and Tobago Extractive Industries Transparency Initative (TEITI) will be hosting a workshop In collaboration with the British High Commission (BHC) to promote transparency, accountability and improved natural resources management in Barbados’ Extractive Sector.

PETROTRIN AND PRIVATIZATION - IS THIS THE RIGHT QUESTION?

by Nazera Abdul-Haqq, Policy Coordinator, TTEITI Secretariat.    Background In Trinidad and Tobago the issue of Petrotrin’s future is a burning national issue and different interest groups have divergent perspectives on how to reform this company. The Trinidad and Tobago Extractive Industries Transparency Initiative (TTEITI) sought the diverse perspectives of these stakeholders in an attempt […]

Open Data Portal Provides Gateway for Energy Sector Disclosure  

By Gabrielle Rawlins CSO Liaison and Communications Officer Knowledge is power. This adage is one that resonates globally, especially with the ease with which we have access to data and information. Due to the explosion of the internet, information on a range of topics can be easily accessed. Knowledge on a topic can be gleaned […]

Trinidad and Tobago ranks on the 2017 Resource Governance Index

By Renuka N. Kangal, Project Coordinator, TTEITI Secretariat (Business Guardian Article, Thursday 6th July, 2017) International investors have many different options about where they can place their investment dollars, so it is important for Trinidad and Tobago to benchmark our economy against other global economies.  Benchmarking exercises not only help us determine how we are […]

Press Release: 2017 Revenue Governance Index

2017 Revenue Governance Index   Press Release  Trinidad and Tobago scored 64 out of 100 points in the 2017 Resource Governance Index and ranked 14th out of the 89 assessments undertaken for the 81 countries surveyed. Trinidad and Tobago scored relatively high for publishing timely, regular reports on oil and gas production, prices and exports […]

Increased Petroleum Activity and National Prosperity

By Renuka N. Kangal, Project Coordinator, TTEITI Secretariat (Business Guardian Article, Thursday 22nd June, 2017) Trinidad and Tobago has enjoyed a relatively long history of hydrocarbon activity that it has leveraged as a key contributor to its growth and development. The successes from this sector can be largely attributed to deliberate strategy and policy decisions […]

Civil Society’s Overlooked role in Natural Resource Governance

By Gabrielle Rawlins, CSO Liaison and Communications Officer, TTEITI Secretariat Often times, the average citizens of a country are not aware of the amount of power they possess in the creation of policy beyond the right to vote in either a local or general election. But, in fact, civil society is one of the major […]

Will Contract Transparency Be Beneficial For T&T?

By Sherwin Long, Head, TTEITI Secretariat The terms and conditions of a contract between the State and oil, gas or mining companies can tell a gripping and compelling story. These terms and conditions outline the both parties’ revenue expectations, their obligations in case of an environmental disaster and can help reinforce the State’s policy on […]

EITI Findings Validated by Auditor General’s Report

By Sherwin Long, Head, TTEITI Secretariat Both the latest EITI and Auditor General Reports point to the need for long term reform in the way that the operations of the oil, gas and mining sectors are monitored in Trinidad and Tobago. Poor revenue controls, unlicensed mining operations and the failure of state-owned energy enterprises to […]

Secret Company Ownership: TTEITI Tackles the Eat-ah-Food Mentality

By Nazera Abdul-Haqq, Policy Coordinator, TTEITI Secretariat Imagine your reaction if you heard that a person holding public office was found to have fraudulently acquired oil, gas or mining contracts by using the name of a company that he or she secretly owns? Or, what if tomorrow’s newspaper headlines read: “Businessman found financing $TT 6 […]

Credit Ratings and the Trinidad and Tobago Economy

By Renuka Kangal, Project Coordinator, TTEITI Secretariat (Business Guardian Article, Thursday 13th April, 2017) In the simplest definition, credit ratings are a measure of risk and indicate the credit worthiness of a given entity. It seeks to convey the level of confidence that an investor or creditor would have in a debtor, whether an individual, […]

PM Rowley and EITI on same page

By Victor Hart, Chair TTEITI Steering Committee and EITI Board Member. Introduction For the past three years, the EITI International Board has advocated disclosure of the names of the beneficial owners of oil, gas and mining companies as a further step towards achieving transparency and accountability in the extractive industries. In February 2016, at the […]

TTEITI Takes Energy Sector Transparency Message to Tobago

The Trinidad and Tobago Extractive Industries Transparency Initiative Steering Committee hosted an outreach event in Tobago at the Magdalena Grand on June 28 to spread awareness on issues related to future energy sector projects for Trinidad and Tobago, plans to identify beneficial owners of companies and practical uses of EITI data. Several speakers shared their […]

EITI captures critical Heritage and Stabilisation Fund data

Trinidad and Tobago’s move to create a Heritage and Stabilisation Fund was driven by the need to provide a cushion to stabilise the economy in times of low energy commodity prices and to provide a vehicle to ensure future generations benefitted from present day energy resource wealth. Government’s recent decision to withdraw $2.5 billion from […]

EITI Midstream & Downstream Revenue

Introduction Notwithstanding Trinidad and Tobago’s small size, our energy sector is widely recognized as being unique in several important ways because of our pioneering initiatives and innovations introduced over the years. Historians remind us that the beginning of T&T’s energy sector dates back to the discovery of the Pitch Lake by Sir Walter Raleigh in […]

EITI and Anti-Corruption Summit 2016

By Victor Hart, Chair TTEITI Steering Committee and International EITI Board Member Trinidad and Tobago’s Prime Minister, Dr. Keith Rowley, was among world leaders who addressed the game-changing Anti-Corruption Summit 2016 in London on 12 May.  He pledged this country’s commitment to prosecuting those engaged in acts of corruption, to recovering assets unlawfully gained from […]

EITI & The Panama Papers

In recent days, the headlines of the foreign and local mainstream and social media got a reprieve from terrorist attacks by the breaking news of ‘the Panama Papers’ that overnight turned the Panamanian law firm ‘Mossack Fonseca’ into a household name. Approximately 11.5 million documents were leaked that revealed that the firm had registered annually […]

EITI Transparency in Commodity Trading

The Trafigura Group, one of the world’s leading energy commodity trading companies, has committed to the Extractive Industries Transparency Initiative (EITI) Principles and started publicly disclosing its payments to state energy companies. In 2014, the company formally declared its support of the EITI and issued a ‘Policy on Payments to Governments’ document which was endorsed […]

EITI Legislation?

Introduction Trinidad and Tobago has been a member of the Extractive Industries Transparency Initiative (EITI) since 2011 and this year was elevated to Compliant Country status. Implementation of the initiative in T&T over five years has exposed certain impediments to the EITI revenue collection and reporting processes and the question is now being asked as […]

T&T’s Mining Sector: A Brighter Future

By Sherwin Long, Head TTEITI Secretariat and Garik Joseph, Project Officer, TTEITI Secretariat. The Minerals (General) Regulations 2015 document laid in Parliament in June 2015 has not garnered much column space or airtime, having slipped under the radar at a time when the Tenth Parliament was winding down and the country was anticipating the announcement […]

Using the EITI to Attract Investment

Before oil and gas investors decide to bankroll projects in a country they usually take a piercing look at the prospective country’s fiscal terms, general taxation regime, cost of regulatory compliance, political stability as well as existing initiatives to promote transparency and sound corporate governance. For countries seeking to woo investors, participating in the Extractive […]