Opposition Vocies Concern Over Decline In Local Oil And Gas Production

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Opposition Vocies Concern Over Decline In Local Oil And Gas Production

The Opposition voices concern about what it describes as a decline in oil and gas production locally.

It claims research shows oil production is at its lowest in sixty-eight years.

In 1952 the Opposition alleges was the last time production levels were this low.

Member of Parliament for Point Lisas, David Lee, says there has been reduced exploration and incentives in the energy sectors to help revive the industry.

Speaking at a news briefing held at the Opposition’s Head Office on Charles Street, Port of Spain, today MP Lee said the closure of state owned Petrotrin refinery is taking its toll on the country’s economy.

MP Lee said there is need to find deep water oil and gas and provide proper incentives which will encourage energy companies to get involved in exploration activities.

He said this is one of the reasons why some energy firms are taking their business to other countries.

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