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Economic History of Oil Exploration and Production in T&T, 1857–2020

In: Oil and Gas in Trinidad and Tobago

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  • Roger Hosein

    (The University of the West Indies)

Abstract

This chapter provides an assessment of how the petroleum sector of the Trinidad and Tobago economy evolved from 1857 to 2020. This analysis is done for the following periods: the early years until 1928, 1929 until the end of the Second World War, 1946 to 1972 and 1973 to the present. Specifically the chapter examines trends in crude oil production and prices, the number of companies involved in the sector, the number of employees, exports and the value added of the sector. The data demonstrates how T&T’s staple export base migrated from agricultural goods to crude oil and the shift in production from land production to marine production and presently dominated by natural gas production.

Suggested Citation

  • Roger Hosein, 2021. "Economic History of Oil Exploration and Production in T&T, 1857–2020," Springer Books, in: Oil and Gas in Trinidad and Tobago, chapter 0, pages 7-47, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-77669-5_2
    DOI: 10.1007/978-3-030-77669-5_2
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