Trinidad and Tobago Energy Conference 2015 Highlights.
Finance Minister, Larry Howai said the changes to the fiscal regime to make oil and gas investments internationally competitive to attract foreign capital investment have led to resurgence in the domestic energy sector.
Delivering the feature address at the opening of the Energy Chamber of Trinidad and Tobago’s annual Energy Conference, he highlighted some of the changes including reduction of the Petroleum Profits Tax to 35 percent for deep water blocks, bringing the tax rate in line with competing jurisdictions for deep water blocks. Other changes include a revision to the Supplemental Petroleum Tax regime, introduction of base rates and a sliding scale mechanism for both marine and land operations and the implementation of sustainability incentives for mature marine and small marine oil fields.
Read the foll brief from the The Energy Chamber of Trinidad & Tobago.