© 2012 International Monetary Fund


© 2012 International Monetary Fund

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© 2012 International Monetary Fund

June 2012

IMF Country Report No. 12/128

Trinidad and Tobago: Selected Issues

This selected issues paper on Trinidad and Tobago was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on March 15, 2012. The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of Trinidad and Tobago or the Executive Board of the IMF.

The policy of publication of staff reports and other documents by the IMF allows for the deletion of market-sensitive information.

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Title Page



Selected Issues

Prepared by Judith Gold, Mario Mansilla, Hunter Monroe, Machiko Narita, and Joel Okwuokei (all WHD)

Approved by the Western Hemisphere Department

March 15, 2012


  • I. The Heritage and Stabilization Fund: Key Issues for the 2012 Review

    • A. Introduction

    • B. Background and Portfolio Performance

    • C. Issues and Recommendations

    • D. Conclusions

    • References

  • II. Developments and Prospects in the Energy sector

    • A. The Structure of the Energy Sector

    • B. Recent Developments

    • C. LNG Exports

    • D. Conclusions

    • References

  • Tables

  • I.1. Energy Revenue and Transfers to the Heritage and Stabilization Fund

  • I.2. Budgeted and Actual Crude Oil Prices

  • II.1. Oil and Gas Reserves

  • II.2. Inward Foreign Direct Investment in Petroleum Industries

  • II.3. Planned Energy-Based and Downstream Projects

  • II.4. Technically Recoverable Shale Gas Resources by Country

  • Figures

  • I.1. Energy Revenue and Fiscal Balances

  • I.2. The HSF Strategic Asset Allocation

  • I.3. Evolution of the HSF Portfolio

  • I.4. HSF Portfolio Performance, March 2007–July 2011

  • I.5. Selected SWFs: Average Annual Rate of Return, 2007–2010

  • I.6. HSF/IRSF Balance and Public Debt

  • I.7. Energy Revenue, CG Fiscal Balance, the HSF Portfolio Size and Transfers

  • II.1. Gross Domestic Product by Sector

  • II.2. Crude Oil Production by Company

  • II.3. Crude Oil and Natural Gas Production

  • II.4. Natural Gas Production by Company

  • II.5. Natural Gas Utilization by Sector

  • II.6. Crude Oil Production, Refining, and Imports

  • II.7. Petrochemical Production

  • II.8. Natural Gas Reserves

  • II.9. Percentage of Exports of LNG by Trading Partner

  • II.10. Natural Gas Price Indices

  • Box

  • I.1. Key Recommendations

Trinidad and Tobago: Selected Issues
Author: International Monetary Fund