BP’s CEO Bob Dudley said yesterday that T&T is important in to the energy giant global production portfolio. “I know T&T is a small country in the energy sector but it is a success story for BP. I am happy to see the progress of T&T in the energy sector. BP’s production in T&T is 17 per cent of its global production and our oil and gas production is 400,000 barrels of oil equivalent a day, ” he said in his address at the T&T Energy Chamber’s Annual General Meeting (AGM) at the Hyatt Regency Hotel, Port-of-Spain.
Dudley also said said that T&T had not been “blown away” by the shale gas revolution in the United States. “We are all aware of the shale revolution in the United States and we anticipate that shale production will grow there. We also expect liquified natural gas (LNG) production to grow worldwide by about four percent.
T&T is well placed and competitive in the LNG market as it has a world class industry. T&T is ranked sixth in the LNG market around the world,” he said. He said world energy demand will rise in the future, so countries will still be demanding oil and gas. “The world is going to need much more of what our industry provides. We expect global demand for energy to grow by 36 per cent by 2030. To put that in perspective, it is like putting an extra United States and an extra China for the world energy consumption…READ MORE