BP, Shell, and EOG bid on Trinidad oil and gas blocks, with winners to be announced later.

From Investing.com: 2024-05-27 15:40:32

Trinidad and Tobago received six bids from BP, Shell, and EOG Resources on four blocks for oil and gas exploration. The winners will be announced in four months, according to Energy Minister Stuart Young. The auction had no other bidders, with all bids from companies already operating on the island.

Trinidad is Latin America’s largest LNG producer with a capacity of 15 million metric tons per year. In October, the government put out 13 blocks for bids, but only four received interest. EOG Resources bid on three blocks, Shell on one, and BP on two. Changes to fiscal terms were made to attract more bids after the 2019 round’s failure.



Read more at Investing.com: BP, Shell and EOG vie for acreage in Trinidad’s oil and gas auction By Reuters