Grenada asked for energy sector reform in the Caribbean. Grenada’s Prime Minister, Dr. Keith Mitchell, stated that the greatest potential to transform the Caribbean economies is in the region’s energy sector ( English ). The goal is to eliminate fossil fuel imports and use 100% renewable energy by 2030.
Geopolitics & Trade
Local Media
Government & NGO
Grenada
Grenada
2
Caribbean
08/01/2017
The CDB had a busy holiday break. The Caribbean Development Bank (CDB) approved US$5m to support climate-smart agriculture in Grenada ( English ) and improve Suriname’s agricultural competitiveness ( English ). The CDB also announced US$100m for an assistance program in Haiti from 2017 to 2021 ( English ).
Political Economy
Multi-lateral Agencies & NGOs, Multi-lateral Agencies & NGOs, Local Media
Government & NGO
Haiti, Grenada, Suriname
Haiti
Grenada
Suriname
3
Caribbean
08/01/2017
Latin America’s elections can affect energy reforms. The region’s top oil producers will hold presidential elections that could bring energy policy changes ( English ). The presidential elections could be decisive in maintaining oil revenues in countries such as Brazil and Mexico, where certain candidates are against the current oil policy.
Political Economy
U.S. Media
Government & NGO
4
Caribbean
08/01/2017
The IMF concluded its visit to Dominica and the Bahamas. The International Monetary Fund (IMF) concluded the Article IV consultation with Dominica and projected it would grow 3% in 2018 ( English ). The IMF also finished the Article IV consultation with the Bahamas, projecting 2.5% growth in 2018 ( English ).
Cuba delayed the end of Castro’s presidency. Raúl Castro will leave the presidency in April, two months later than anticipated ( English ). The transition was postponed due to the delay in legislative elections as a consequence of the damage caused by Hurricane Irma.
Political Economy
U.S. Media
Government & NGO
Cuba
Cuba
6
Caribbean
08/01/2017
Petrotrin terminated its contract with A&V. Petrotrin announced the termination of its contract with A&V Drilling and Workover Limited due to discrepancies in oil production revealed by its Internal Audit Department ( English ) ( English ). Kroll Consulting Canada Company confirmed the findings of Petrotrin’s audit department.
Strategy & Operations
Private Companies & Industry Associations, Local Media
Oil & Gas Upstream
Trinidad & Tobago
Trinidad & Tobago
7
Caribbean
08/01/2017
Brazil is interested in Guyana’s oil sector. Petrobras is considering entering Guyana’s oil and gas sector, noting that the company was engaged with Guyana during the 80s and the 2000s ( English ). President Granger said he welcomes investment from Brazil in that sector.
Strategy & Operations
Local Media
Oil & Gas Upstream
Guyana
Guyana
8
Caribbean
08/01/2017
ExxonMobil will start Stabroek production in March 2020. ExxonMobil announced oil production at the offshore Stabroek block will begin in March 2020, producing between 100,000 and 120,000 barrels per day, a fraction of the Liza field ( English ). Guyana’s government was under pressure to disclose the 2016 agreement, which renegotiates the terms signed in 1999.
Market Trends
Private Companies & Industry Associations
Oil & Gas Upstream
Guyana
Guyana
9
Caribbean
08/01/2017
Ecopetrol struck black gold in Santander. The state-run oil company, in joint exploration with Canada’s Parex, announced the presence of oil in the Santander province near La Cira-Infantas ( English ). The Coyote-1 deposit, between 2,042 meters and 2,177 meters deep, contains crude that is lighter than the normal Colombian oil.
Strategy & Operations
U.S. Media
Oil & Gas Upstream
Colombia
Colombia
10
Caribbean
08/01/2017
US LNG exports look south. Latin America is becoming a growing market for US LNG exports, according to the deputy assistant secretary at the US Department of State’s Bureau of Energy Resources. Companies are preparing investments for 2019, with volumes depending on market demand ( English ).
