Trinidad and Tobago

Investment & Operational Criteria

Key Indicators

Risk Premia

1.875

%

Outlook

Positive

Rating

BBB|3S|+

Ranking

23

Reserves (1P)

Total

mm boe

Oil

12

%

Summary

Recent changes to the government have revitalised the liberalisation of the TTO O&G sector, with an increasing number of independent participants attracted to the region. Nevertheless, the new hydrocarbon law is having an adverse impact on the overall outlook for country operators.

Updated

June 6, 2024

Country Basics

Region

Caribbean

Reserves (1P)

Oil

mm bbl

Gas

bcf

Location

Trinidad and TobagoTrinidad and Tobago

Caribbean, islands between the Caribbean Sea and the North Atlantic Ocean, northeast of Venezuela.

Outline

Tax Regime
Type

Multiple (PSC/Concession)

Tax Regime
Notes

Generally, companies engaged in business activities in T&T are subject to corporation tax at a rate of 30% on chargeable profits. Companies engaged in the business of manufacturing petrochemicals, liquefying natural gas, and transmitting natural gas are subject to corporation tax at a rate of 35%.

Investment & 
Operational
Climate

Energy exploration and production drive TT’s economy. This sector has historically attracted the most foreign direct investment. The energy sector usually accounts for approximately half of GDP and 80% of export earnings. Petrochemicals and steel are other sectors accounting for significant foreign investment. Since the economy is tethered to the energy sector, it is particularly vulnerable to fluctuating prices for hydrocarbons and petrochemicals. Since the last update, TT has rolled back several pandemic-related measures that affected the investment climate including reopening borders to air travel; ending the state of emergency that only permitted essential services to operate; reopening the hospitality and entertainment sector to vaccinated individuals; and reopening schools.

Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.

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