Caribbean State-owned Energy Companies sign signature MOU

By Shanieka Smith

Features Writer

June 30, 2022 – Three state-owned energy companies in the Caribbean:  Heritage Petroleum Company Limited and Paria Fuel Trading Company Limited of Trinidad and Tobago and Staatsolie Maatschappij of Suriname have signed a Memorandum of Understanding (MoU) on Monday.

Under the agreement, all companies will discuss topics relating to identifying mutually beneficial partnership opportunities under Exploration and Production (E&P), Trading and Marketing, and Environment, Social, and Governance (ESG).

Their first meeting was in November 2021 when a high-level delegation representing Suriname and its national oil company, Staatsolie, met with members of the leadership of Heritage and Paria, at Heritage’s Port of Spain, Trinidad office.

“As CARICOM partners, Trinidad and Tobago and Suriname will work together to address the challenges to develop our energy sectors as well as those of our region,” said Trinidad’s Minister of Energy and Energy Industries Stuart Young who was present at the meeting on Monday.

He added that “Our countries have an important role to play in energy security for the region.  I look forward to a fruitful relationship and I am pleased that discussions have already commenced among the parties.”