US revokes T&T's Dragon & Cocuina-Manakin licences

US revokes T&T's Dragon & Cocuina-Manakin licences


Prime Minister Stuart Young has announced that Trinidad and Tobago's licences granted by the United States' Office of Foreign Assets Control, which would facilitate the exploitation of gas fields in Venezuelan waters, have been revoked.Young made the announcement during a press briefing at White Hall on Tuesday.The Prime Minister said, "What I can tell Trinidad and Tobago, we have now been informed that our licence from OFAC, which is dated the 18th of December, 2023 has been revoked by OFAC, and that license is now revoked by OFAC, as well as our Cocuina-Manakin licence."

Young said the government would be exploring legal options with regard to reversing the decision of the United States government."I have been in touch with our attorneys at law in Washington, DC, there is a process for, I wouldn't say appeal of this revocation, but there is a process for you to make an application for it not to be (revoked) or for there to be amendments and we are going to be engaged in that process on behalf of the people of Trinidad and Tobago.

Trinidad and Tobago was granted an OFAC licence on October 31, 2023 paving the way for the potential extraction of gas from Dragon field in Venezuelan waters. A second licence was granted on May 31, 2024 for the Cocuina-Manakin field.Both licences were granted for a period of two years.

.....Yes, folks. An entire decade. And Dragon gas still in the air. Ten years ago, we first heard then-prime minister Dr Keith Rowley say Dragon gas coming from Venezuela to save Trinidad and Tobago’s economy. Remember that picture of Rowley and Venezuelan President Nicolas Maduro, each in Conga lines in Caracas, dancing in celebration of the salvation that never came?
Remember that unforgettable spectacle of Rowley with his energy minister Stuart Young, both oozing with joy in public, absurdly holding up their “golden fleece” for the media: an enlarged photograph of the licence handed to them by Maduro.Well, we are dying, because Rowley found diversification an “annoying” word, the most scandalously foolish statement since the dawn of modern democracy and the nation state.

Here we are ten years later, starved of lifeblood foreign exchange without which we have neither economy nor society and would collapse into a failed state. And discussing forex distribution, while important, is not enough.Our reserves are now the lowest in 17 years, US$5.5 billion, most of it borrowed and which must be repaid in US dollars which we are not adequately earning. That is what politicians with no vision, plan or economic strategy produce.Meanwhile, Trinidad and Tobago is rated globally among the countries with the lowest GDP growth in 2024.

T&T Express



PM Lal beharry Young made an agreement to give Madero: a bonus plus 140 million for nothing...
What a jackass government this PNM has been over the last 10 years!

Comments from T&T Citizens :


Lutchman: Well you had to be a fool to think Rubio after all his smiles and fake assurances wouldn't have done this. However, Kudos for being an honest politician and sharing this with the country given the season we're in.

Leandra: Imagine there are people on here laughing at OUR setbacks.Dragon Deal was for, to secure OUR future. Others have put NOTHING in place, no ideas, no vision, just fight down. They really say EMPTY VESSELS MAKES THE MOST NOISE!

Keith: This is not a PNM or UNC issue. This is bad for Trinidad and Tobago's economy.

Steffan: Look out for "alyuh too unpatriotic" from the PNM supporters who called us dunce when we saw it coming and warned them.

Kwame: People rejoicing and laughing for something that will affect our children in d future. This is not even a government thing or something to look at as political advantage. SMH.

Soomdath: Alyuh sit down and depend on gas and oil, all other sectors left hang up, the damn beaches, cities, roads in deplorable conditions, with non stop crimes, agriculture dead,nothing to lean back on and we Independent.

Ashton: Well we officially in a recession,hopefully the government will not continue borrowing to balance the economy going forward.This shows how we keep giving away oil money in subsidy instead of diversity with the funds.

Indira: Well look more ketch a**! This government was depending on this deal. Lemme look to tighten meh belt even more eh. That belt will suffocate meh even more.

Gizzy: Very sad but expected with the change in administration. You were warned multiple times by the opposition this could happen.

Leah: If UNC was in power PNM ppl would have had the worst to say so.

Allan: The dragon gas is not the only life line to T&T. My stance is about my country's success regardless of who is in power. I will not take pleasure in celebrating this news. There are many other ongoing projects and opportunities.

Stefan: Granny used to say don't put all your eggs in one basket. The economists preaching this since I small .. the late Lloyd Best was one. Now is time for pressure in we tun tun.

Mark: The results of poor policy decisions that has pervaded over the past 10 years. Sadly, we continue to be blinded by nonsense from politicians which will lead to our ultimate demise!

In reply to sgtdjones

The CC.com UNC advocate is still quoting dUNCe trolls and celebrating TnT setbacks.

A few days ago we heard not a peep from this unpatriotic troll when the lie that all the eggs were in the dragon deal basket was exposed:

first gas from Cypre development off the southeast coast of Trinidad,



If you are interested in the welfare of your country of birth, why be silent on the achievements yet celebrate the setbacks?



additionally there are other positive devlopments


But you'd never here about these from the resident "Chiken Little" .. or is it "Henny Penny Jones" ?


Please note that individuals politically aligned to the Trinidad and Tobago UNC opposition party have in their employ, a significant number of operatives, many of whom are paid, to disseminate biased opinions often disguised as facts and seemingly from authoritative sources.
These are usually opinions disseminated by other paid bloggers and letter-writers to the various daily newspapers.
The primary aim is to target the political leader of the ruling party and to portray the country as a failed state that they alone can resuscitate.

"WHAT COULD USA DO WE"

In reply to granite

This latest act by the United States proves they are still in complete control of the allocation of the Caribbean’s resources.
The population has a lot to consider heading into the April 28 general election, noting that both political leaders ought to be questioned about their economic plan for T&T for the next two years.

None of the political parties in T&T has the ability to take T&T to the next level. T&T has voters till I die, citizens enabling one party.
Then such supporters expect advancement, yet none has occurred since independence.
A poster above is braying about gas increases and development that will not occur till 2030 as Pt. Lisas mothballs plants.

note:Prime Minister Stuart Young has announced that Trinidad and Tobago's licences granted by the United States' Office of Foreign Assets Control, which would facilitate the exploitation of gas fields in Venezuelan waters, have been revoked.

If one posts facts, one is deemed to be affiliated with the opposition.

In reply to sgtdjones

Are you ‘concerned TT citizen’ Soomdath??

In reply to Halliwell

Yes, I am concerned I have assets in T&T that are regressing.

Idiots in charge in parliament.

Are thee an unpatriotic troll?