By Sean Mattson
Trinidad’s tough-talking energy minister is powering change in the vital energy sector. Can he bolster production levels and help the sluggish economy?
The Caribbean's top-rated sovereign is really the tale of
two countries. After smartly stashing energy windfalls,
Trinidad and Tobago was able to weather the global economic
crisis, but it now faces sluggish growth as it struggles to
diversify its energy-based economy, stem a crime wave and bring
greater transparency to government.
Key to bolstering economic growth will be the government's
ability to get the energy sector back on its feet after
watching oil output slip to 100,000 barrels per day, the lowest
level seen in 54 years.
"The new minister of energy has been pushing to get further
investment…in deep drilling, which is capital intensive,
but the country will need to find new oil and gas," says Suresh
Maharaj, Citi's managing director for its corporate and
investment bank business in the Caribbean and Central
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