Natural Gas brings in more revenue than oil and so the drop in oil prices over the last few months should not worry the country, said Minster of Energy Kevin Ramnarine. “We have had a US$22 decline in oil prices over the last three months. The natural gas sector in terms of its revenue contribution has held. In the last 20 years, gas became the dominant hydrocarbon of the two. There has been a focus by previous governments on natural gas. That has borne significant benefits to T&T through revenue. We have also begun to focus on oil and are seeing oil production picking up where the numbers coming out of the month of October looks like 86,000 Barrels of oil per day. This is a five per cent increase in oil production,” he said.
Read the full story in the Trinidad and Tobago Guardian Newspaper here.