Reported 6 months ago
BP, Shell, and EOG Resources are competing for acreage in Trinidad's oil and gas auction, with six bids received on four blocks as the 2023 shallow water auction closes. Winners will be announced in four months, with all three companies bidding on the Modified UC block. Trinidad, a major LNG producer in Latin America, has struggled with gas shortages, prompting changes to fiscal terms to attract more bids, including lower tax liabilities and higher cost recovery.
Source: YAHOO