Venezuela oil industry wants Barbados investment
@Che
Barbados' nominal GDP is projected to reach approximately $8.48 billion USD by the end of 2026
The required investment for Venezuela's oil sector is immense, with estimates suggesting 100 billion dollars . 10 billion per year just to restore production to previous levels.Barbados,does not possess the significant financial capital required to independently fund Venezuela's large-scale oil development. Public debt increased from 77 to 158 percent of GDP.
Venezuelan leadership has invited Barbados to explore energy cooperation, such initiatives primarily aim to forge trading links. International firms and major powers like the U.S. and China are the primary players in Venezuelan oil.
Are you selling nutmeg in Grenada to help Mia invest?
@sgtdjones
Venezuela should reach out to Ali in guyana to invest 😀
@googley
Oil and gas rich Trinidad and Guyana close allies of Barbados never reached out to Barbados, Jamaica and other CARICOM states with such an offer.
@Che
Venezuelan leadership has invited Barbados to explore energy cooperation, such initiatives primarily aim to forge trading links
Trinidad and Tobago and Barbados Sign Energy MOU
The MOU establishes a general framework for both parties to undertake cooperative initiatives, in the areas of energy, energy security and energy exploration, development and production in relation to hydrocarbon resources that extend across their maritime boundary.
Che ......stick to being the nutmeg tree climbing champion , its where you are best...😂
@sgtdjones
Is this still valid though, given all that has occurred since it signing, inclusive of regime change
I remember petro caribe, Barbados did not sign on due to our arrangement with Trinidad. This solidarity has been since then forgotten.
Barbados’ decision not to join the other CARICOM nations in signing on to PetroCaribe is based on a smattering of valid reasons and certainly what appears to be an ample dose of exported Washington-influenced paranoia. Barbados produces some oil – although far less than it consumes – and has an existing arrangement with Trinidad and Tobago to refine that oil. Maintaining this refinery relationship, as Barbados’ government has indicated that it felt Venezuela was reluctant to refine the island’s crude, has contributed to Bridgetown’s opposition to PetroCaribe. Furthermore, the deal between Barbados and Trinidad and Tobago includes a preferential supply agreement, and Barbados claims that any changes to the existing supply chain are only likely to create complications.
@hawk
You are correct. Grenada bush pokey stdjones/stupidjones knows not of what he speaks. He shouldn't give up on his day job fruit picking for a living in frigid rass Southern Ontario.
There is no exploration much less oil and gas production near or on the maritime Barbados/Trinidad boundary. The MOU is irrelevant at this time opposite to what Vene offers Bim.
Bim should take up the Vene offer given the double cross the ATM woman dealt Caricom as she kisses Trumps's backside. Additionally, Trinidad sells Barbados oil at higher prices than it sells Trump Kingdom.
@hawk
hawk ( che ) Castled is clueless as the nutmeg tree he climbs to be champion.😂
Barbados and Trinidad & Tobago have a formal agreement to jointly explore oil and gas resources that lie across their maritime boundary. If commercial discoveries are made in this shared area, the two countries will coordinate on operators and how resources are developed and shared.
The focus includes the Tobago Trough, an underexplored geological basin between the islands. It’s viewed as a promising frontier, with studies indicating the presence of multiple structural traps and high-quality reservoir rock.
Barbados and Trinidad & Tobago have also agreed to cooperate on developing any hydrocarbons that are found in this boundary zone.
In parallel, major energy companies such as ExxonMobil, along with others seeking new reserves in the Caribbean, are carrying out 3D seismic surveys in deep waters. Interest is being driven by similarities to the sandstone formations seen in waters off Guyana. Industry expectations are that a limited number of exploratory wells will be drilled later this year.
Grenadian Che is unaware of such developments; it hasn't reached the Grenadian newspapers yet.😎