Trinidad Advances Petrotrin Refinery Restart as Exxon Fast-Tracks Ultra-Deepwater Exploration

Trinidad and Tobago is moving on two energy fronts at once. The government is pressing ahead with a phased restart of the Pointe-a-Pierre refinery, shuttered since 2018, in talks with partners that reportedly include Guyana. Separately, ExxonMobil has taken deepwater acreage and is fast-tracking exploration on the theory that the Guyana petroleum system may extend into Trinidad’s ultra-deep waters.

Both are long-dated bets against a near-term squeeze: gas output has been soft, and gas drives the country’s foreign-exchange earnings. The 2026 budget was built on conservative oil and gas price assumptions.

For diaspora readers, the takeaway is that Trinidad’s recovery hinges on whether refining and new exploration can offset declining mature-field gas before forex pressure tightens further.

Source: Trinidad and Tobago Newsday; Caribbean News Global; The Phoenix Newspaper.