Latest news with #TrinidadAndTobago
Reuters
7 days ago
- Business
- Reuters
Woodside's second-quarter revenue beats estimates on Sangomar output; trims 2025 outlook
July 23 (Reuters) - Australia's Woodside Energy ( opens new tab reported a stronger-than-expected 8% rise in second-quarter revenue on Wednesday due to robust output from Senegal's Sangomar project, though it marginally lowered its annual production forecast following an asset divestment. Woodside in late March agreed to sell offshore oil and gas assets in Trinidad and Tobago to London-based Perenco, which included production facilities and interests in the shallow water Angostura and Ruby fields within the Greater Angostura project. The country's top gas producer posted revenue of $3.28 billion for the three months ended June 30, surging 8% from $3.04 billion a year earlier and comfortably exceeding the Visible Alpha consensus estimate of $3.09 billion. The revenue beat underscores the strong performance of the Sangomar project, which has emerged as a key growth driver for the company. Overall production jumped 13% to 50.1 million barrels of oil equivalent (mmboe) during the quarter, up from 44.4 mmboe in the same period last year. As a result of the asset sale, Woodside marginally adjusted its 2025 production forecast to between 188 and 195 mmboe, compared with its previous guidance range of 186 to 196 mmboe.
Associated Press
07-07-2025
- Business
- Associated Press
Touchstone Announces Cascadura-5 Well Drilling Results
CALGARY, AB / ACCESS Newswire / July 7, 2025 / Touchstone Exploration Inc. ('Touchstone' or the 'Company') (TSX:TXP)(LSE:TXP) provides an operational update on the Cascadura-5 development well ('Cas-5"), located on the Ortoire block onshore in the Republic of Trinidad and Tobago. Touchstone has an 80 percent operating working interest in the well, with Heritage Petroleum Company Limited holding the remaining 20 percent. The Cas-5 well was spud on June 4, 2025, using Star Valley Drilling Rig #205 and was drilled to a total depth of 7,020 feet over 22 days. Following open-hole logging operations, the well was cased for future production. The primary target of the Cas-5 well was the Herrera Gr7bc sands, which are prevalent in the Cascadura structure. Cas-5 is the second well drilled into the B block of the Cascadura structure and encountered approximately 620 feet of gross sand. The targeted reservoir intervals were observed approximately 300 feet updip of the Cascadura-2 well, which was drilled in the first quarter of 2024. The original planned total depth of the well was 6,654 feet. Based on encouraging drill cuttings and mud logging data indicating continued hydrocarbon presence, drilling was extended to 7,020 feet. Wireline logging, mud logging, and drill cuttings data collectively suggest that hydrocarbon-bearing sands are present throughout the primary Gr7bc interval. When funding is available, the drilling rig is expected to be mobilized to complete operations at the nearby Cascadura-4 well ('Cas-4"), which is currently cased to a depth of 3,200 feet. Cas-4 is also targeting the Herrera sands, with a planned total depth of approximately 6,500 feet. Upon drilling Cas-4, the Company intends to complete and tie-in Cas-4 and Cas-5 into the Cascadura natural gas facility. All required tie-in equipment is currently on location. Paul R. Baay, President and Chief Executive Officer, commented: 'Cas-5 was drilled on schedule and on budget, with field-estimated costs of approximately US$5 million, despite extending the target depth. The performance of our new drilling team, along with the use of synthetic oil-based mud and managed pressure drilling, was instrumental in delivering a successful operation. We encountered no material issues during drilling, which we attribute to improvements implemented following previous challenges. The hydrocarbon intervals observed align with or exceed our pre-drill expectations and continue to enhance our understanding of the Cascadura structure as we integrate ongoing seismic interpretation.' Placing update The Company continues to evaluate its options regarding the unfunded placing commitments and will issue a further announcement as soon as practicable. Touchstone Exploration Inc. Touchstone Exploration Inc. is a Calgary, Alberta based company engaged in the business of acquiring interests in petroleum and natural gas rights and the exploration, development, production and sale of petroleum and natural gas. Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago. The Company's common shares are traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol 'TXP'. For further information about Touchstone, please visit our website at or contact: Advisories Working Interest Touchstone holds an 80 percent operating working interest in the Cascadura field, which forms part of the Ortoire block, onshore in the Republic of Trinidad and Tobago. The remaining 20 percent participating interest is held by Heritage Petroleum Company Limited. Forward-looking Statements The information provided in this news release contains certain forward-looking statements and information (collectively, 'forward-looking statements') within the meaning of applicable securities laws. Such forward-looking statements include, without limitation, intentions, forecasts, estimates, expectations and objectives that are subject to assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expect', 'believe', 'estimate', 'potential', 'anticipate', 'forecast', 'pursue', 'aim', 'intends', and similar expressions, or are events or conditions that 'will', 'would', 'may', 'could' or 'should' occur or be achieved. The forward-looking statements contained in this news release speak only as of the date hereof and are expressly qualified by this cautionary statement. In particular, this news release includes, but is not limited to, forward-looking statements regarding: the Company's business plans, strategies, priorities and development plans; the quality and quantity of prospective hydrocarbon accumulations based on wireline logs, including the Company's interpretations thereof; the Company's field estimated capital expenses related to the Cascadura-5 well; the Company's expectations regarding timing and results of future drilling, completion, and tie-in operations at Cascadura-4 and Cascadura-5 including anticipated production rates and commercial outcomes therefrom; the Company's ongoing evaluation of other sources of financing;and Touchstone's current and future financial position, including the Company's liquidity and the sufficiency of resources to fund future capital expenditures. The Company's actual decisions, activities, results, performance, or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits Touchstone will derive from them. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Certain of these risks are set out in more detail in the Company's 2024 Annual Information Form dated March 19, 2025 which is available online under the Company's profile on SEDAR+ ( ) and on the Company's website ( ). The forward-looking statements contained in this news release are made as of the date hereof, and except as may be required by applicable securities laws, the Company assumes no obligation or intent to update publicly or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise. SOURCE: Touchstone Exploration, Inc. press release
Times of Oman
05-07-2025
- Politics
- Times of Oman
PM Modi conferred with Trinidad and Tobago's highest honour
Port of Spain : Prime Minister Narendra Modi was conferred with 'The Order of the Republic of Trinidad and Tobago' (ORTT) on Friday, the highest honour of the nation, during a ceremonial event at the President's House in Port of Spain. President of Trinidad and Tobago, Christine Kangaloo, presented PM Modi with the award as he becomes the first foreign leader to be honoured with the award. This is the 25th international honour bestowed upon PM Modi by any country. PM Modi stated he accepted the award on behalf of the 140 crore Indians. "I accept it on behalf of 140 crore Indians," he stated in a post on X. PM Modi began his first official visit to Trinidad and Tobago on Thursday (local time) with a ceremonial Guard of Honour at Piarco International Airport, where he was received by Prime Minister Kamla Persad-Bissessar along with 38 ministers and four Members of Parliament of the Caribbean nation. PM Modi has shared highlights from the special welcome in Port of Spain on the social media platform X. The video shows PM Modi being welcomed by his Trinidad and Tobago counterpart, Kamla Persad-Bissessar. The people of Trinidad and Tobago greeted PM Modi with enthusiasm, dancing to the beat of drums and showcasing traditional music and performances that reflected a blend of local and Indian culture. PM Modi also interacted with members of the Indian diaspora who had gathered at Piarco International Airport to welcome him. While sharing the video on X, PM Modi wrote, "May the friendship between India-Trinidad & Tobago flourish in the times to come! Highlights from a special welcome in Port of Spain." PM Modi's visit to Trinidad and Tobago is part of a broader five-nation tour taking place from July 2 to July 9. His stop in Trinidad and Tobago, which is the second leg of his tour, is expected to boost bilateral relations, with a focus on areas such as digital finance, renewable energy, health, and information technology. Earlier on Wednesday, Prime Minister Narendra Modi was conferred with the national honour of Ghana, Officer of the Order of the Star of Ghana, by its President, John Dramani Mahama, in recognition of his "distinguished" statesmanship and influential global leadership, the Ministry of External Affairs said in an official statement. The Prime Minister's visit to Trinidad and Tobago will be his first visit to the country as Prime Minister and the first bilateral visit at the Prime Ministerial level since 1999. The Prime Minister will also be visiting Argentina, Brazil, and Namibia as part of his tour. He will be travelling to Brazil during the fourth leg of his visit, from July 5 to July 8, to attend the 17th BRICS Summit 2025, followed by a state visit to the South American country.
Yahoo
05-07-2025
- Business
- Yahoo
Indian PM Modi receives top civilian honor in Trinidad and Tobago
Trinidad and Tobago conferred India's Prime Minister Narendra Modi with the Carribean nation's highest civilian honor on Friday, in a first for a foreign leader. President Christine Carla Kangaloo gave Modi the Order of the Republic of Trinidad and Tobago at a ceremony at President's House in St Ann's, near the capital Port of Spain. Modi was on a two-day tour of the dual-island country as he seeks to shore up New Delhi's ties with the Caribbean and Latin America. The visit marked the Indian leader's first official trip to Trinidad and Tobago — where more than a third of the population is of Indian descent — since he came to power over a decade ago. "This honor is a symbol of the deep and eternal friendship between our two countries," Modi said. Relations between India and Trinidad and Tobago find their roots in 1845, when indentured Indian laborers first arrived to work on sugar and cocoa plantations under British colonial rule as slavery ended. Over 140,000 laborers settled in the Caribbean nation between 1845 and 1917. "India and Trinidad & Tobago rose from the shadows of colonial rule to write our destiny of progress. Our nations stand tall as proud democracies and pillars of strength in the modern world," Modi said on X. India and Trinidad & Tobago rose from the shadows of colonial rule to write our destiny of progress. Our nations stand tall as proud democracies and pillars of strength in the modern world. — Narendra Modi (@narendramodi) July 4, 2025 The Indian prime minister's visit to Trinidad and Tobago focused on boosting investment in energy, health, security and other sectors Trinidadian Prime Minister Kamla Persad-Bissessar announced a number of investments in medical, energy and technological infrastructure promised by her Indian counterpart. "This visit is more than just diplomacy. It marks a new dawn," she said. "India, and Trinidad and Tobago, will now work as strategic partners," Persad-Bissessar added. Modi also declared that the sixth generation of citizens of Indian origin in the dual-island nation would be eligible to receive Overseas Citizen of India (OCI) cards, allowing them to freely live and work in India. The Indian prime minister is currently on a five-nation diplomatic tour, covering Ghana, Trinidad and Tobago, Argentina, Brazil and Namibia. He landed in Argentina late on Friday and is scheduled to hold talks with President Javier Milei. Edited by: Srinivas Mazumdaru
Yahoo
05-07-2025
- Politics
- Yahoo
Trinidad and Tobago gives top honor to Indian PM Modi
Trinidad and Tobago on Friday bestowed its highest honor on visiting Indian Prime Minister Narendra Modi, who is seeking to strengthen New Delhi's ties with the Caribbean and Latin America. Modi arrived Friday in the country, where more than a third of the population is of Indian descent. President Christine Carla Kangaloo gave him the Order of the Republic of Trinidad and Tobago at a ceremony at President's House in St Ann's, just outside the capital Port of Spain -- the first time a foreign leader was so honored. "This honor is a symbol of the deep and eternal friendship between our two countries," Modi said, according to an official translation. Relations between India and Trinidad and Tobago date back to 1845, when indentured Indian laborers first arrived to work on sugar and cocoa plantations under British colonial rule, following the end of slavery. Between 1845 and 1917, more than 140,000 laborers settled in the Caribbean nation. The Indian community is now the country's largest ethnic group, at 35.4 percent of the population of 1.4 million. Black Trinidadians are the second largest group at 34.2 percent. "It is a matter of great pride that the Indian community here continues to preserve our shared traditions, culture and customs with such care and devotion," Modi said. He called Kangaloo and Prime Minister Kamla Persad-Bissessar "the biggest brand ambassadors of this community." "Our relationship carries the excitement of cricket and the flavor of Trinidad pepper," Modi said, calling Trinidad and Tobago a vital partner for New Delhi. "India and Trinidad & Tobago rose from the shadows of colonial rule to write our destiny of progress. Our nations stand tall as proud democracies and pillars of strength in the modern world," Modi wrote on X. "It's high time we all work together to give the Global South its rightful seat at the high table." During his time in Port of Spain, Modi addressed the Trinidadian parliament and signed memorandums of understanding with Persad-Bissessar. Devant Maharaj, a former government minister and leader of the nation's largest Hindu organization, called Modi a "hero" and hailed the visit. But Trinidad's largest Muslim organization questioned the decision to honor Modi, citing his human rights record. He will next visit Argentina and Brazil, where a BRICS summit will take place on Sunday and Monday. str-jt/sst/
