Trinidad and Tobago makes term changes to 2010 bid round

02/01/2010
Trinidad and Tobago has announced major changes to its fiscal terms for energy companies operating in the country and those seeking new blocks in its 2010 bid round.The government made the announcement at an energy conference hosted by the South Trinidad Chamber of Industry and Commerce at which it said that it will continue to use production-sharing contracts but will eliminate taxes on the PSCs. Instead, Trinidad and Tobago will collect its revenues via profit oil.Energy Minister Conrad Enill told the conference: "Our new PSC will be similar to the 1995-96 models in which companies were allowed to evaluate their risks and offer an adequate share of profit petroleum. This is intende...
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