AGP Executive Report

Energy & Security: Former energy minister Stuart Young questioned whether the Government is moving to sell Paria Fuel Trading Company assets to Trafigura, warning any loss of State control could hit T&T’s fuel security. Aviation: Deputy PM St. Clair Leacock urged patience as a “very delicate” probe continues after a light aircraft reported missing was found; Civil Aviation confirmed the Dominican-registered Beechcraft Baron left Argyle for Tobago with two people onboard. Oil & Gas Deals: Reuters reports Shell signed five new Venezuela agreements, including work on the Loran offshore gas field and other projects that could feed gas exports toward Trinidad’s LNG infrastructure. Public Finance: Finance Minister Davendranath Tancoo says salary relief for nurses and teachers is coming via the 2026/2027 Budget package, while Colm Imbert disputes Government claims over Moody’s upgrade. Tobago Infrastructure: The ANR Robinson terminal is fully certified for operations, but vendors fear being priced out of the new airport commercial spaces. Governance & Oversight: PM Kamla Persad-Bissessar ordered legal action against MP Keith Scotland’s chambers over alleged fraudulent misrepresentation tied to T&TEC electricity arrears. Health & Agriculture: One Health expert Dr Rajeev Nagassar warns antimicrobial resistance is already spreading through farms, rivers, livestock and food systems.

Mid-Year Budget Watch: Finance Minister Davendranath Tancoo says global confidence in T&T is rising, citing Moody’s keeping the rating but improving the outlook, and announcing CAF plans to start construction this year for a Tobago/region-facing presence by 2027. Public Sector Relief: Tancoo also assured nurses and teachers that relief from ongoing salary talks will be funded in the 2027 Budget, as Parliament considers a $2.927b supplementary request. Aviation & Tourism Infrastructure: Tobago’s ANR Robinson airport terminal has been fully certified and handed over for operations, while tourism stakeholders head into the budget review with modest expectations and worries around marketing, airlift, arrivals, infrastructure, crime perceptions and consultation. Energy & Industry Signals: Moody’s upgrade is also being linked to renewed interest in restarting the Pointe-a-Pierre refinery, and AMCHAM warns that national division could derail benefits from the Lo­ran gas licence for Shell. Governance & Oversight: SporTT is seeking answers from TTFA over how $6.9m in World Cup qualifying funds were accounted for, with claims of unpaid wages and vendors. Finance & Fraud: The Central Bank has filed a High Court suit to recover about $18.8m tied to an alleged forged $20m government cheque. Agriculture & Housing Pressure: Farmers warn “ease of doing business” is failing them, and housing developers call for faster approvals and state help to narrow the construction-cost/affordability gap. Trade & Capital Markets: West Indian Traders extended its IPO closing date to June 22.

Moody’s Upgrade & Refinery Restart: Moody’s lifted Trinidad and Tobago’s outlook to stable from negative while keeping the Ba2 rating, boosting confidence for the shuttered Pointe-a-Pierre refinery’s restart plans. Mid-Year Budget Review Pressure: Finance Minister Tancoo faces mounting demands as Parliament absorbs an extra $2.93b in spending, with unions and business pushing on jobs, wages, growth and how the State will fund it. Tobago Airport Ready: The ANR Robinson terminal has been fully certified and handed over for operations, clearing the way for the next phase of Tobago’s airlift and tourism flow. Energy & Venezuela Spill Row: Venezuela alleges a new, larger oil spill from Trinidad’s coast; T&T says it’s investigating with sea vessels and drones while Heritage Petroleum disputes major hydrocarbon presence. Football Funding Scrutiny: SporTT is seeking answers from the TTFA over $6.9m in World Cup qualifying funds and lingering unpaid dues to staff and vendors. Central Bank Fraud Case: The Central Bank filed a High Court suit to recover about $18.8m tied to an alleged forged $20m government cheque. Agriculture Under Strain: Farmers warn that “ease of doing business” is still missing, with delays clearing inputs and financing hurdles hitting food production. Tourism Budget Worries: Tourism stakeholders head into the review with modest expectations, citing marketing, airlift, arrivals, infrastructure, crime perceptions and FX constraints. Housing Development Bottleneck: Terra calls for state intervention to cut red tape in approvals, arguing bureaucratic delays widen the affordability gap and stall new builds. PH Taxi Safety Spotlight: A fatal case involving an unvetted PH taxi highlights ongoing commuter risk and enforcement gaps in the private hire sector. Trade & Capital Markets: West Indian Traders extended its IPO closing date to June 22 as it seeks to bring in new shareholders. Hearing-Health Partnership: T&T signed an MOU with Starkey Hearing Foundation to expand screening, training and access to hearing-assistive technology.

Football Finance Scrutiny: SporTT is demanding answers from the TTFA over accounting and reporting of $6.9m in public funding for the World Cup-qualifying campaign, with claims of unpaid coach and vendor bills stretching back over two years. Central Bank Fraud Case: The Central Bank has filed a High Court suit to recover about $18.8m tied to an alleged $20m forged government cheque, naming NiPat General Contractors and two directors. Energy & Industry Diplomacy: AMCHAM is urging unity to fully capitalise on Venezuela’s Lo­ran gas licence for Shell, while Venezuela and T&T trade accusations in a new oil-spill spat; T&T says it’s investigating with vessels and drones. Credit Confidence: Moody’s upgraded T&T’s outlook to stable from negative, citing improved external prospects and reserves ahead of the mid-year budget review. Tourism Budget Worries: Tourism stakeholders say expectations for Monday’s Mid-Year Budget Review are modest, but they want action on marketing, airlift, arrivals, infrastructure, crime perceptions and FX constraints. Housing Pressure: Terra calls for state intervention to cut bureaucratic delays in approvals that are widening the construction-cost/affordability gap and slowing new residential projects. Agriculture Ease of Doing Business: Farmers’ group leaders warn that poor ease of business—especially input import clearance and financing—keeps agriculture precarious. Transport Safety Spotlight: A commentary highlights how unregulated PH taxis expose commuters to serious risk, after the death of 12-year-old Mercedez Layne. IPO Update: West Indian Traders extended its IPO closing date to June 22, keeping terms unchanged. Health Partnership: T&T formalised a partnership with the Starkey Hearing Foundation to expand hearing-health screening, training and access to assistive technology.

Finance Bill Crackdown on Rural & Food Production: Finance Minister Davendranath Tancoo defended tighter rules and higher penalties for small-scale copra and consumer goods, arguing licensing exists to protect public health and that “the law must have teeth.” Central Bank Fraud Recovery: The Central Bank filed a High Court suit to recover $20m tied to an alleged forged Government cheque, naming NiPat General Contractors and two directors. Energy & Investment Confidence: Moody’s upgraded T&T’s outlook to stable (Ba2 affirmed), citing improved external prospects, reserves and debt-management, following IMF feedback. AMCHAM Push on Energy Unity: AMCHAM CEO Nirad Tewarie welcomed the Shell/Venezuela Loran gas licence but warned social division could derail T&T’s ability to benefit. IPO Deadline Extended: West Indian Traders (WIT) extended its IPO closing date to June 22 to let investors complete applications. Oil Spill Row With Venezuela: T&T investigated a possible spill after Venezuela’s satellite-based claims; Heritage Petroleum says no evidence of large hydrocarbon amounts was found. Health Services Partnership: T&T signed an MOU with the Starkey Hearing Foundation to expand hearing screening, training and access to assistive technology. Business Expansion: SinglePoint Group added $1.1m investment in T&T, bringing total investment to $5.1m and adding 11 jobs. Electricity Disruption in Cuba: Santiago de Cuba residents reported transformers removed without replacement timelines, leaving blocks without power. Local Power Heroics: T&TEC crews were praised for rescuing a baby from a burning building in Port of Spain.

Oil & Gas / Environment: Trinidad and Tobago is investigating reports of a possible oil spill off its coast after Venezuela alleged a second, larger trans-boundary slick confirmed by satellite imagery. Energy Minister Roodal Moonilal says joint reconnaissance is under way with sea vessels and drones, while state-owned Heritage Petroleum reports no evidence of large hydrocarbon amounts after multi-agency sweeps and monitoring. Sovereign Finance: Moody’s revised T&T’s outlook from negative to stable, keeping the Ba2 rating, citing improved fiscal confidence, debt management steps, and stronger external prospects. Trade & Industry: The Trade, Investment and Tourism Minister outlined a proposed ban on imports made through forced labour, aiming to protect consumers and local SMEs from unfair competition. Business Growth: Canadian BPO SinglePoint raised its T&T investment to $5.1m, adding 11 jobs as it expands nearshore services. SME & Agriculture: NAMDEVCO launched a Tobago Lead Farmer Training Programme cohort under BIOREACH to build farming capacity. Energy Diplomacy: Venezuela granted Shell a licence for the Loran gas field, a project tied to gas development that also intersects with Trinidad and Tobago’s maritime border. Consumer Protection: Finance Minister Davendranath Tancoo defended tighter oversight in the Finance Bill 2026, warning weak product regulation can endanger public health. Capital Markets: West Indian Traders (WIT) extended its IPO to June 22.

Offshore Energy & Environment: Trinidad and Tobago authorities are investigating a possible oil spill off the coast after reports and video surfaced, while Heritage Petroleum says sweeps found no evidence of a major hydrocarbon release; the dispute is escalating as Venezuela claims satellite imagery shows pollutants drifting toward its waters and demands transparency. Cross-Border Gas Deal: Venezuela has granted Shell a natural gas licence for the Loran offshore field, with multiple agreements signed to advance development and exports—an effort that could feed LNG via Trinidad and Tobago. Credit & Macro Signals: Moody’s upgraded T&T’s outlook to Stable, citing improved fiscal confidence, debt management and buffers. Trade & Business Climate: PSOTT says Finance Bill modernisation could stall if approvals remain backlogged, while TTMA and Exim Bank gear up Export Action Programme Cohort 3, targeting new foreign sales for SMEs. Consumer Protection & Production: Finance Minister Tancoo defended stricter oversight for small-scale production, warning weak regulation can lead to contamination and serious harm; Trade Minister Maharaj outlined a plan to block imports made through forced labour. Local Investment: SinglePoint expanded nearshore BPO operations in T&T with an extra $1.1m investment and 11 new jobs, lifting total investment to $5.1m. Industry & Transport: Route 2 maxi-taxi leaders say they’re willing to work with the PM and Transport Minister after a “rest and reflection” action over licensing, competition and NIS issues.

Oil Spill Row: Heritage Petroleum says it found no evidence of a major hydrocarbon spill after Venezuela’s claims, while Trinidad and Tobago continues reconnaissance with air/sea assets and seeks more details from Caracas. Diplomatic Energy Push: Venezuela granted Shell a natural gas permit/licence for the Loran field, a cross-border project with Trinidad and Tobago, positioning it for LNG-linked exports. More Shell-Loran Deals: Caracas also signed five agreements with Shell to advance Loran development and related oilfield expansion, plus steps to cut gas flaring. Regional Tensions Escalate: Venezuela warns of a new spill “greater than May” and demands transparency and safeguards from Trinidad and Tobago, threatening shared marine ecosystems and fishing. Tobago Agriculture Capacity: NAMDEVCO launched a Lead Farmer Training Programme cohort in Tobago under BIOREACH, building farmer skills and extension support. SME Export Boost: TTMA and Exim-bank prepare to launch Cohort 3 of the Export Action Programme, touting measurable foreign-sales gains from earlier cohorts. Business & Policy: PSOTT says Finance Bill modernisation could stall if state approvals remain backlogged, urging clearer service-level commitments. Energy Tax Outlook: Economist Dr Vaalmikki Arjoon argues Finance Bill 2026 energy terms could improve economics for marginal gas fields and help supply LNG. Music Industry Spotlight: T&T secured multiple nominations across 23 categories for the 2026 Caribbean Music Awards, with Lady Lava leading the pack.

Cross-border Energy Deal: Venezuela has granted Shell a licence to develop the Loran gas field, with five agreements signed for Phase I—six of seven reservoirs are transboundary with Trinidad and Tobago—positioning gas exports and LNG processing supply for T&T. Energy Policy & Investment: Finance Bill 2026 is drawing fresh debate as energy economist Dr Vaalmikki Arjoon says new marginal marine gas terms (including an 8% royalty and higher qualifying expenditure deductions) could unlock stranded fields and boost supply. Security & Infrastructure Theft: Trinidad and Tobago Scrap Iron Dealers Association is calling for a temporary copper purchase/export ban and centralised scrap-yard control after copper theft and vandalism linked to power infrastructure faults. Tobago Politics & Economy: Tobago MPs face renewed backlash over support for extending the State of Emergency, with claims it’s hurting tourism and business. Regional Capacity Building: CARPHA trained 18 people across 15 states to safely transport infectious substances, strengthening lab and public health readiness. Tourism Recognition: Tripadvisor Travellers’ Choice awards put Mt Plaisir Estate Hotel in the world’s top 1% and HADCO Experiences at Asa Wright in the top 10% of attractions. Culture & Industry Spotlight: T&T’s music scene is dominating Caribbean Music Awards nominations, with public voting open until August 10.

Tobago Budget & Prosperity Blueprint: Tobago House of Assembly Finance Secretary Petal-Ann Roberts outlined the 2026/27 fiscal package and the “Pathway for Prosperity: Blueprint for Tobago 2026–2030,” flagging priorities from tourism and agriculture to digital transformation and human capital. State of Emergency Debate: As Parliament weighs extending the SOE, security effectiveness and political divide remain front and centre, with maritime/security consultant Norman Dindial weighing the implications. Energy & Cross-Border Gas: Energy Minister Roodal Moonilal defended Finance Bill energy incentives and said the sector is showing “clear signs of recovery,” while Trinidad also signed a production-sharing deal with ExxonMobil and Occidental for the TTUD-1 ultra-deepwater block. Venezuela–Shell Loran Gas Move: Venezuela signed Phase I agreements with Shell to develop the Loran gas field, a cross-border asset linked to Trinidad and Tobago, as Caracas pushes to become a major gas exporter. Finance Bill 2026 Fines & Tax Claims: Finance Minister Davendranath Tancoo said the bill adds no new taxes on citizens, though it increases fines and introduces a new fiscal regime for marginal marine gas drilling. Tourism Recognition: Tripadvisor Travellers’ Choice awards went to Mt Plaisir Estate Hotel and HADCO Experiences at Asa Wright, boosting the case for conservation-led tourism. Public Safety & Crime: CARICOM IMPACS and the US opened a regional firearms workshop in Port of Spain to tackle illicit, increasingly untraceable weapons driving violence. Hospitality Training Push: MIC’s “Inside the Industry” session heard that TTHTI’s shutdown dealt a major blow, as training and skills development are being rebuilt. Agribusiness & Food Skills: Farm and Func­tion Ltd’s turnaround story and Annie Phillip’s pepper-sauce training highlight food security, import substitution, and small-business capability building.

Energy Diplomacy: Energy Minister Dr Roodal Moonilal pushed back on Opposition claims over talks with Venezuela, saying engagement is ongoing and T&T is working closely with major energy stakeholders to advance cross-border gas projects. Offshore Oil & Gas: T&T signed a production-sharing contract for the TTUD-1 ultra-deepwater exploration block with ExxonMobil and Occidental, a “significant milestone” for upstream activity. Finance Bill 2026: The Finance Bill debate is heating up, with Energy Minister Moonilal defending new offshore gas incentives while UNC MP Colm Imbert argues the bill’s higher fines and penalties hit poor people and small businesses. Housing Procurement Scrutiny: The Office of Procurement Regulation is probing housing contract awards tied to Landmark TT and the Housing Development Corporation, after concerns about selective procurement and pricing. Hospitality Skills: The MIC Institute of Technology launched an “Inside the Industry” hospitality series, while Housing Minister David Lee said the TTHTI shutdown dealt a major blow to hospitality training. Agribusiness & Food Security: Farm and Function Ltd’s turnaround is being framed as a model for food security and import substitution, and Annie Phillip is training up in pepper sauce production with a focus on food safety. Regional Trade & Tourism: CHTA president-elect Gregor Nassief urged T&T to reconsider withdrawal of some Caribbean airline routes, warning it could damage multi-destination travel and connectivity. Media & Payments: Caribbean media faces revenue squeeze in the AI era, while CIBC Caribbean rolled out Google Wallet support across several markets including Trinidad and Tobago. Transport Costs: A new look at congestion puts the economic hit at about $2.26b a year, with commuters losing more than a month stuck in traffic. Local Industry Growth: Kenny Scott Boats is expanding across the Caribbean and Florida with a custom luxury offshore vessel built for regional conditions.

Hospitality Skills Push: Housing Minister Dr David Lee says the shutdown of the Trinidad and Tobago Hospitality and Tourism Institute (TTHTI) dealt a “major blow” to hospitality training, while MIC-IT’s new “Inside the Industry” series kicks off with a Hospitality Edition featuring local and international professionals. Education & Research Links: UWI St Augustine and UTT sign MOUs to expand applied research and student opportunities across engineering, energy, biosciences and veterinary medicine. Tourism Connectivity Warning: Caribbean Hotel and Tourism Association president-elect Gregor Nassief urges T&T to reconsider withdrawal of Caribbean airline routes, warning it could hurt multi-destination travel and passenger connectivity. Regional Business & Investment: T&T energy momentum is highlighted as global investor confidence grows, while TTMA leads a trade mission to Guyana and Suriname. Digital Payments Upgrade: CIBC Caribbean rolls out Google Wallet support in the Bahamas, Barbados, Jamaica, Cayman Islands and Trinidad and Tobago, enabling contactless payments via Android and WearOS. SoE Debate Watch: Business chambers say any extension of the State of Emergency must be backed by evidence of measurable crime reductions. Industry Growth Moves: Seprod-owned A.S. Bryden & Sons buys into Barbados distribution and food service via two deals totalling US$3.6m.

Energy Investment: Trinidad and Tobago’s upstream push stays in focus as the Energy Minister signs a Production Sharing Contract for an ultra-deepwater block with ExxonMobil and Occidental Petroleum, a move the Energy Chamber calls a major step forward. Regional Trade & Industry: The TTMA is leading trade momentum with a Guyana and Suriname mission, while Guyana’s Finance Minister highlights investment in infrastructure, energy, healthcare, education and industrial development as job and business catalysts. Local Business & Security Policy: Business chambers are urging that any extension of the State of Emergency be backed by clear results, not just emergency powers—so firms can plan and investors can stay confident. Agriculture & Food Security: CARDI hosts an international delegation to deepen agricultural innovation ties, showcasing climate-resilient crops and high-yield outputs from CARDI-IICA cooperation. Finance & Governance: Parliament is set for debate on the Finance Bill 2026 and a proposed SoE extension, with the bill covering amendments across multiple laws and changes to fines, taxes and pensions. Corporate Moves: Seprod-owned A.S. Bryden & Sons expands in the Eastern Caribbean, buying two Barbados firms for US$3.6m to strengthen distribution in food service and consumer goods. Human Interest: A post-mortem confirms 12-year-old Mercedez Layne died from blunt force injuries after her body was found near an oil well site.

Energy & Oil/Gas Deal: Trinidad and Tobago’s Energy Minister signed a Production Sharing Contract for the TTUD-1 ultra-deepwater block with ExxonMobil and Occidental Petroleum, a push aimed at accelerating upstream activity and future investment. Agriculture & Regional Food Security: CARDI hosted a high-level delegation from IICA and Brazil to strengthen hemispheric agricultural alliances, highlighting climate-resilient crops and ongoing CARDI-IICA outputs. Manufacturing & Trade: The TTMA launched a major trade mission to Guyana and Suriname with 38 companies and 58 participants, targeting new export customers and investment links in fast-growing sectors. Business/Finance Skills: The University of Guyana’s SEBI inched closer to global standards with ACCA accreditation for its Bachelor of Accountancy programme. Public Safety Debate: Business chambers are urging that any extension of the State of Emergency be backed by measurable results, not just emergency powers. Crime Update: An autopsy confirmed 12-year-old Mercedez Layne died from blunt force injuries after her body was found near an oil well site.

Regional Trade Push: The Trinidad and Tobago Manufacturers’ Association (TTMA) has launched a major trade mission to Guyana and Suriname (June 8–14) with 38 companies and 58 participants, aiming for new export deals, partnerships, and market entry as both countries attract more regional investment. Energy & Investment: Government and energy firms have signed a Production Sharing Contract for the TTUD-1 Block, with ExxonMobil and Occidental Petroleum (Oxy) in the spotlight as the upstream sector moves forward. Security & Protest Tensions: Public Utilities Minister Barry Padarath rejects plans to protest outside ministers’ homes, while NATUC and Tobago hotel and tourism leaders warn against extending the State of Emergency—fueling fresh debate over how long emergency powers should last. Climate on the Ground: A pediatric emergency consultant flags how heat, flooding, dengue and rising food costs are already hitting children’s health, pointing to urgent action for the next generation. Business Skills for Youth: NCB Merchant Bank’s Wizdom CRM Virtual Stock Market Game is building financial literacy and decision-making skills beyond simulated trading.

Energy & Investment: Occidental Petroleum has received Energy Ministry approval for a farm-in to Block TTUD-1, with the PM citing renewed momentum in T&T’s energy sector after earlier output and reserves pressures. Roads & Construction: The US$161M Soesdyke–Linden Highway is about 90% complete, with drainage around 70% done and electrical works underway, including light pole pedestals and power boxes. Trade & Industry Links: TTMA is sending a large trade mission to Guyana and Suriname (June 8–14) to build B2B partnerships and market intelligence for manufacturers and service providers. Public Finance: Business groups welcome the Govt’s $2.93B supplementary request tied to public-sector wage commitments, while urging clarity in the June 15 mid-year budget review. Food Policy & Health: PAHO/WHO convened Caribbean nutritionists and legal drafters in Barbados to push sodium reduction targets and industrial trans fat elimination. Regional Business Climate: A new U.S. Section 301 forced-labour tariff proposal would add 10%–12.5% duties on imports from 60 economies, with stakeholders urged to assess exposure and submit comments. Local Economy & Jobs: Tobago youths in Les Coteaux say promised work programmes haven’t delivered, adding pressure for real job creation.