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2 clusters · 10 sources · 27 days · First seen · Last updated

Trinidad and Tobago National Gas Company financial report

Overview

The National Gas Company (NGC) of Trinidad and Tobago reported an after-tax profit of $3.468 billion for the fiscal year ending December 31, 2025. This follows previous financial losses in 2020 and 2023. Chairman Gerald Ramdeen credited the turnaround to leadership changes and cost-cutting measures that reduced operating expenses by over $500 million.

Alongside the financial report, the company disclosed an unauthorized US$100 million overdraft granted to a private downstreamer during the previous People’s National Movement (PNM) administration. This overdraft reportedly rolled over monthly for more than two years during a period of scarce foreign reserves. Additionally, the Chairman noted that another downstreamer was permitted to pay for gas in local currency rather than US dollars, and criticized the Manatee gas field project as one of the “worst negotiated deals for the country.”

Entities

Bulk Oil Storage and Transportation Company · Gerald Ramdeen · Godwin Edudzi Tamakloe · National Petroleum Authority · National Gas Company of Trinidad and Tobago

Timeline

  1. 5 days ago

    [BUSINESS] 7 sources
    Ghana petroleum sector faces regulatory debate over NPA Bill

    The IERPP is urging Ghana to withdraw the NPA Bill, 2026, warning it could weaken BOST Energies' ability to manage strategic fuel reserves and national petroleum infrastructure.

  2. about 1 month ago

    [BUSINESS] 3 sources
    National Gas Company reports $3.468 billion profit amid overdraft scandal

    NGC Chairman Gerald Ramdeen announced a $3.468 billion profit for 2025 while revealing a US$100 million unauthorized overdraft scandal involving a private downstreamer from the previous administration.

Sources

3news.com · asaaseradio.com · azpnews.com · ghananewss.com · myjoyonline.com · norvanreports.com · thehighstreetjournal.com · thevaultznews.com · trinidadexpress.com · ttt.live