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Guyana explores partnership to develop future power infrastructure projects

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Guyana explores partnership to develop future power infrastructure projects

GEORGETOWN, Guyana, (DPI) – Guyana is establishing a framework to identify, evaluate, and develop potential power-sector infrastructure projects through a new partnership between the Guyana Power and Light Inc (GPL) and Pacific and Auro Power Inc.

The initiative was formalised on Tuesday, with the signing of a non-binding memorandum of understanding (MoU) by GPL’s Head of the Executive Management Committee, Kesh Nandlall.

The agreement provides a non-exclusive framework for collaboration but does not commit either party to finance or undertake any specific project. Instead, the MoU outlines a process through which the two parties will jointly identify priority projects, assess their feasibility and develop formal proposals for future consideration.

Areas identified for collaboration include transmission and distribution infrastructure, substations, power generation, renewable energy, battery energy storage systems and grid modernisation initiatives.

Under the agreement, each proposed project will be assessed on its individual merits and remain subject to the necessary technical, commercial, financial, regulatory and corporate approvals before implementation.

Additionally, the MoU makes it clear that neither party is obligated to proceed with any project unless a separate definitive agreement is signed.

The collaboration reflects GPL’s commitment to pursuing strategic partnerships that support the expansion and modernisation of Guyana’s electricity infrastructure.

It also aligns with the government’s broader objective of strengthening the country’s electricity network through sustainable investments that enhance resilience and support long-term economic growth.

Hunger hampers Ebola response as cases top 3,200 in DR Congo

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Hunger hampers Ebola response as cases top 3,200 in DR Congo

Democratic Republic of the Congo (DRC) – The UN emergency food agency appealed for immediate funding on Wednesday, warning that deepening hunger is undermining the response to an Ebola outbreak in the Democratic Republic of the Congo (DRC) that has now infected more than 3,200 people.

“Ebola feeds on delay, fear and hunger,” said Carl Skau, acting executive director of the World Food Programme (WFP). “Stopping this outbreak requires all hands on deck and communities at the centre.”

Declared in eastern DRC on 15 May, the Ebola outbreak is the fastest growing on record. Full-blown Ebola caused by the Bundibugyo virus is marked by severe bleeding and a fatality rate of around 40 percent.

What you need to know

  • This is the largest Ebola outbreak caused by the Bundibugyo virus to date, according to the latest update from the World Health Organization (WHO);
  • 48 health zones across five provinces in eastern DRC are affected: Ituri, North Kivu, South Kivu, Tshopo and Haut-Uele;
  • Ituri, the outbreak’s epicentre, remains one of the country’s most severe hunger hotspots, with 1.9 million people facing crisis levels of food insecurity or worse;
  • More than 2.65 million people in the 48 Ebola-affected health zones face acute food insecurity, including more than 628,000 people in emergency conditions, according to the UN-backed global monitor Integrated Food Security Phase Classification (IPC).

‘Food is frontline Ebola containment’

The UN World Food Programme (WFP) issued a stark warning that food assistance and logistics are critical to containing the outbreak.

“Food assistance is frontline Ebola containment,” Skau said. “It helps families stay home, supports safe isolation, builds trust with communities and keeps health teams moving. We know what works. What we need now is the speed and resources to scale it before this outbreak outruns the response.”

Such efforts also help reduce movement of people in search of food, supports safe isolation, lowers the risk of harmful coping strategies and creates the social conditions for health actors to operate safely and effectively, the agency said.

What’s the UN doing?

The UN is actively helping authorities respond to the outbreak, including through its food agency, WHO and its children’s fund, UNICEF.

Here are highlights of some WFP efforts in DRC:

  • Since the onset of the outbreak, the agency’s UN Humanitarian Air Service (UNHAS) has operated 495 flights, transported 3,395 humanitarian responders and delivered 56 metric tonnes of essential cargo to frontline locations, including newly affected provinces such as Haut-Uele and Tshopo;
  • WFP has delivered more than 160,000 hot meals to patients, contacts and frontline workers in 17 treatment and isolation centres;
  • WFP has also provided dry food rations to 23,000 people in North Kivu, South Kivu and Ituri, including 14,000 people under quarantine with monthly food assistance;
  • An additional 36,000 people in Ebola-affected zones have been reached with general food assistance.

Challenges ahead

Speed and resources are the main challenges, and every delay gives Ebola more room to spread, while gaps in logistics, food assistance and community support risk weakening containment efforts, according to WFP.

At the same time, insecurity, access constraints, community unrest and limited operational capacity in newly affected areas continue to complicate surveillance, supply movements and response scale up.

To sustain all operations in DRC for the next six months, WFP requires $293.6 million, which includes funding emergency logistics and food assistance in Ituri and other affected areas.

Learn more about the UN Ebola response here.

UNICEF – Caribbean Community Climate Change Centre strengthen partnership to advance Child-Centered Climate Action across the Caribbean

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UNICEF – Caribbean Community Climate Change Centre strengthen partnership to advance Child-Centered Climate Action across the Caribbean

BELMOPAN, Belize — The United Nations Children’s Fund (UNICEF) and the Caribbean Community Climate Change Centre (CCCCC) have signed a Memorandum of Understanding (MoU) that will strengthen collaboration to protect children’s rights and well-being in the face of the growing impacts of climate change across the Caribbean.

The five-year partnership establishes a framework for joint action to integrate child-sensitive climate policies, build resilient social services, strengthen climate adaptation and disaster risk reduction efforts, and empower young people to participate meaningfully in climate action and decision-making.

Children in the Caribbean are increasingly affected by climate-related hazards, including hurricanes, flooding, droughts, extreme heat and environmental degradation. These impacts threaten access to education, healthcare, safe water and sanitation, nutrition and protection services. Through this partnership, UNICEF and CCCCC will work together to ensure that climate responses better reflect and address the unique vulnerabilities and needs of children and young people.

“Climate change is not only an environmental challenge; it is a child rights challenge,” said UNICEF Representative Sajid Ali. “Children are among those least responsible for the climate crisis yet they bear some of its greatest consequences. This partnership with the Caribbean Community Climate Change Centre will help ensure that climate policies, investments and programmes across the region put children at the center and strengthen the services and systems they rely on every day.”

Under the agreement, the two organisations will collaborate to strengthen child-sensitive climate governance, support climate-resilient education, health, nutrition, water, sanitation and hygiene (WASH) systems, and promote child-responsive social protection and disaster preparedness measures. They will also work together to generate evidence, mobilise resources, and expand knowledge on effective approaches to climate resilience that benefit children and communities.

Dr Colin Young, executive director of the Caribbean Community Climate Change Centre, welcomed the partnership, noting that regional climate action must consider the needs and perspectives of future generations.

“It is a well-known fact that children and youth have not been a central focus of climate resilience programming, either regionally or globally. UNICEF brings a tremendous track record of advocating the rights of children and ensuring they are at the heart of climate resilience efforts. This aligns with the CCCCC’s strategy, and it is an area where we recognise the need for greater strategic focus and stronger partnerships for action.

This Memorandum of Understanding sets out the framework for the work we will do together and allows us to combine our expertise to ensure that children are at the heart of climate action. We are absolutely delighted to be partnering with UNICEF and to draw on its extensive experience working with children and youth across the Caribbean and in Belize.”

A key area of collaboration will focus on strengthening climate-resilient safely managed sanitation services throughout the Caribbean. Drawing on UNICEF’s global and regional expertise in sanitation, the partnership will support evidence-based advocacy, capacity development, knowledge-sharing and climate financing initiatives to improve sanitation systems and resilience, particularly in climate-vulnerable communities.

The partnership will also place a strong emphasis on youth engagement, supporting children and young people, including adolescent girls and marginalised groups, to develop the knowledge, skills and leadership needed to contribute to climate solutions, policy dialogue and advocacy at national and regional levels.

By combining UNICEF’s mandate to advance and protect children’s rights with CCCCC’s leadership in coordinating regional climate action, the two organisations aim to accelerate progress toward a more resilient, sustainable and equitable Caribbean where every child can survive, thrive and realise their full potential despite the challenges posed by climate change.

With the Hormuz Strait set to reopen, What’s next for oil prices?

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With the Hormuz Strait set to reopen, What’s next for oil prices?

By FocusEconomics

Recovery in oil output won’t happen all at once: The recent US-Iran deal commits the two countries to reopen the Strait. That said, this won’t be overnight; the waterway needs to be demined, and the political agreement has to be durable enough for ships to attempt passage. Assuming this is achieved, many Middle Eastern oil exporters that had throttled down their production due to a lack of domestic storage space should be able to ramp up output and resume shipping crude via Hormuz. However, this ramp-up won’t be instant either, and is likely to be further delayed by damage to some regional energy facilities sustained from Iranian drone and missile attacks.

Geopolitical outlook remains murky: Iran has floated the idea of charging for using the waterway after 60 days, while president Trump has threatened to reinitiate strikes on Iran if the deal flounders. Moreover, Israel remains a wild card; with the country’s leaders purportedly unhappy with the terms of the deal, renewed Israel-Iran fighting can’t be ruled out.

Panelists’ price outlook sees large divergence: As a result of such uncertainty on multiple fronts, it is no surprise that our panelists see wildly different oil prices for the coming quarters, with maximum forecasts of over USD 100 per barrel for later this year and minimums of less than USD 60. Overall, the Consensus of the dozens of panelists we poll is for crude prices to gradually decline in the coming quarters. Along with the reopening of the Hormuz Strait, higher OPEC+ quotas and stronger production from the UAE, US and Venezuela will boost supply and weigh on prices in turn. The International Energy Agency recently projected that global oil output could rise by 8 million barrels per day in 2027, leading to a market surplus of 5 million bpd.

Insight from our panelists: 

On geopolitics, EIU analysts said: 

“Hormuz Strait trade flows will not return to pre‑war levels for several months. We await publication of the MoU details, but we currently assume that nuclear negotiations will extend beyond the 60 days, given the difficulty of reconciling one‑time red lines, technical complexities and deep intra‑regime divisions in Iran.  We expect that mutual self‑interest will allow a narrow, compartmentalised settlement to be reached, possibly by year‑end, entailing nuclear dial‑back in return for partial sanctions relief. However, there remains wide scope for setbacks and disagreements, and resumed conflict, probably low‑level and contained around the strait, remains a material risk.”

Goldman Sachs analysts said:

“We now assume that Persian Gulf exports normalise to pre-war levels by end of July and Persian Gulf crude production recover by October and see risks to the Mideast supply outlook as two-sided, but skewed to the downside on net. We estimate that this normalisation in Gulf exports to pre-war levels might be achieved with a 13mb/d increase in Hormuz flows from current levels to around 70 percent of pre-war levels. We estimate average visible Hormuz flows at 1.3mb/d over the 7 days, Gulf of Oman flows (which might be linked to “dark” Hormuz crossings) at 1.6mb/d, and redirections via Yanbu, Fujairah, and Ceyhan at 7.5mb/d. We do not see ship availability as a binding constraint on the recovery of flows as we estimate 860mb of empty tanker capacity within the Strait or within 5 days of navigation. 

“However, many shipowners reportedly remain cautious about clear guidelines for transit, and we see shippers’ risk aversion as a potential constraint on the flows, along with Iran’s geopolitical goals over the upcoming 60-day nuclear deal negotiations.”

Macroprudential policy and productivity: Friends not foes

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Macroprudential policy and productivity: Friends not foes
    • Amid ongoing concerns over European productivity growth, this ECB Blog post looks at the relationship between macroprudential policy and productivity

By Ellen Ryan 

Recent years have seen rising – and well-founded – concerns over European productivity growth. As these concerns grow a suspicion emerges: is regulation to blame for the sluggish economy? This post looks at this question in the context of macroprudential regulation and argues that macroprudential policy can actually support productivity growth, by helping to prevent crises and keep credit flowing where it matters most.

Macroprudential policy is a form of regulation that focuses on the overall resilience of the financial system. The use of macroprudential policies has expanded significantly since the financial crisis of 2008. All euro area countries currently implement some form of macroprudential capital requirement for their banking system. This means that banks need to hold additional capital to make themselves resilient to shocks that affect the financial system as a whole. This is on top of what banking supervision requires of them individually. Almost all of these countries also have limits in place to curb risky mortgage lending.

Admittedly, this can come at a cost. Overly complicated or unnecessary regulation can put the brakes on banks’ ability to support the economy, which could in turn hamper productivity growth. That is why the ECB strives to improve the effectiveness of its macroprudential policies and is contributing to the simplification of Europe’s regulatory frameworks.  We need as little bureaucracy as possible, and as much as necessary. Simplification of financial regulation can support capital accumulation in the real economy, thereby fostering investment, productivity and job creation over the longer term. At the same time, financing innovative firms often relies more heavily on equity and venture capital than on traditional bank lending, underscoring the importance of broader capital market development.

However, policymakers have stressed that lightening the bureaucratic burden of financial regulation should not result in the loosening of financial regulation. Simplification does not mean deregulation. But if deregulation could increase banks’ capacity to fund new innovative firms, then why not? Wouldn’t this boost European productivity growth?

Macroprudential policy has two main goals. Its primary goal is to build resilience in the financial system so that it can withstand crises. Its secondary goal is, where possible, to guard against the overconfidence and lack of caution typical of financial booms. Both macroprudential policy goals come with benefits for productivity growth. Financial crises have large and persistent adverse effects on long-term economic growth. By reducing the likelihood and severity of such crises, macroprudential policy also helps limit these long-lasting productivity losses. In addition to causing financial crises, financial booms can drive a misallocation of economic resources towards less productive sectors, particularly real estate. Macroprudential policy can lean against this misallocation.

Financial crises are bad for productivity growth…

As far as the first policy objective is concerned, one lesson from past crises cannot be overstated: financial crises are bad for productivity.

Financial crises are characterised by a sharp drop in the availability of credit. When banks cut their lending, firms tend to invest and innovate less and are more likely to go out of business. Growth in output per worker falls by 0.55 percentage points during the typical banking crisis.

Also, the innovation that drives productivity growth is a cumulative process – inventions often build on what came before. Even when economic activity recovers, it can take a long time to regain momentum after an innovation process has been cut short. Meanwhile, high unemployment can result in the deskilling of workers. The average banking crisis entails an additional long-term 1.1 percent drop in output per worker for each year it lasts.

For a typical five-year banking crisis, these short and long-run effects add up to an 8 percent total decline in output per worker. To put this number in context, since the year 2000 output per worker in the euro area has grown by an average of less than 1 percent per year. Financial crises leave productivity scars that can take many years to heal.

Where macroprudential policies build the resilience of the financial system to this type of outcome, they can help shield productivity growth from the worst effects of financial crises. A key policy tool here are macroprudential capital buffers – such as the countercyclical capital buffer (CCyB) – which require banks to build up capital in good times so as to increase their resilience when a crisis hits.

Of course we cannot just look at the benefits; we have to consider the costs as well. For example, do higher capital buffers reduce banks’ capacity to lend to (productivity-enhancing) firms in the short run? In fact, studies show that the medium-term resilience gained from macroprudential policies actually comes with limited short-term costs. The post-2021 tightening of macroprudential capital buffers in the euro area has had a minimal impact on overall credit supply by banks, with only a small number of the most capital-constrained banks cutting back on lending.

…. and so are (real estate) booms

Macroprudential policy’s secondary objective can also help boost productivity. Here it should be noted that macroprudential policy does not seek to reduce credit growth in general; its goal is to guard against the excesses that tend to arise during financial booms. These typically consist of very rapid credit growth combined with a rapid rise in asset prices. We know from past experience that this combination is particularly dangerous and, unfortunately, particularly common, when the asset in question is real estate.

But why is this relevant to productivity growth? Credit and real estate booms divert valuable economic resources away from productive firms and towards less productive activities that benefit from rising house prices. In particular, during financial booms credit tends to flow to firms with appreciating tangible assets rather than to more innovative firms that would use it more productively. Indeed, previous ECB research has specifically highlighted euro area banks’ disproportionate real estate exposures, despite this sector’s limited contribution to economic growth.

The literature suggests that the impact of this misallocation during financial booms is sizeable. In the run-up to the 2008 financial crisis, rising house prices increasingly diverted banks towards unproductive mortgage lending and away from productive corporate lending: a one standard deviation increase in house prices in a given region in the United States reduced local banks’ corporate lending by 42.3 percent and corporate investment by 20.9 percent. During the average credit boom 70 percent of new credit goes to households and the less productive non-tradeable sector. And this leads to falling productivity.

Misallocation can also occur within sectors: the misallocation of credit among Spanish manufacturing firms – to those that owned appreciating real estate, as opposed to productive firms – accounted for 40% of the decline in productivity in the Spanish economy between 2003 and 2007. Rising real estate prices create a particularly strong disincentive for banks to lend to the innovative, R&D-intensive firms that lead productivity growth. Intangible assets such as intellectual property typically make for less attractive forms of collateral than the appreciating real estate often owned by less productive firms.

And what about macroprudential policy? Recent work by Nobel Prize winner Joseph Stiglitz argues that financial regulation that limits the relaxation of lending standards on real estate-collateralised loans during a financial upswing is required to mitigate this misallocation dynamic. Macroprudential policymakers refer to these types of regulations as borrower-based measures (BBMs). BBMs are limits placed on banks’ mortgage lending which restrain their capacity to lend above certain risk metrics. For example, certain multiples of a borrower’s income or certain loan-to-value levels. By directly limiting banks’ capacity to shift towards risky real estate lending, these policies can help counter this misallocation. In some cases they can even limit the excessive house price growth driving the misallocation in the first place. BBMs also make both borrowers and lenders more resilient to financial downturns, thus also making severe (productivity-destroying) financial crises less likely.

Macroprudential policy helps foster a stable environment

Of course, ever-tightening macroprudential policy will not result in ever-growing productivity, and macroprudential policy should continue to be set on the basis of financial stability concerns. However, by increasing the resilience of the system to financial crises and by leaning against the misallocation of resources during financial booms, ambitious macroprudential policy can help create a stable environment. And this is good for productivity growth.

At the same time, further policy action is required to boost European productivity. For now, macroprudential policy primarily targets the banking sector. However, ECB research has highlighted the importance of non-bank financing – such as financial markets and equity investors – for funding risky innovative projects that drive productivity growth. Achieving a more diversified external funding structure in Europe, including through further progress on the capital markets union, could help boost the productivity of euro area firms, which would also benefit financial stability.

Where undue complexity in the (macroprudential) regulatory framework places an undue burden on banks this should also be addressed, but it is in everyone’s interest that we maintain the resilience of the financial system while doing so.

People, place, power, social sustainability and tourism

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People, place, power, social sustainability and tourism

By Johnny Coomansingh

In every country, there are good people. There are also ‘not-so-good people.’ The not-so-good people fall into several categories, including rebellious people, uncooperative people, hostile people, nasty people, and disobedient people. There is another category, bad people. Religious or not, the not-so-good people are just as bad as the bad people. Trinidad and Tobago (T&T) is no exception. How many generations have passed since Columbus rediscovered Trinidad? Despite the best efforts, this little country seems destined to be burdened with a whole lot of bad people.

Trinidad and Tobago endured colonialism, slavery and indentureship, emerging as an independent democratic republic with an anthem that tells the world: “Here every creed and race find an equal place.” This ‘equal place’ for all is left to be seen on the roadside of dreams. The racial mix is a hodgepodge of peoples who came from almost every part of the globe. Yet there are severe racial tensions; “… disturbances in the force” as articulated in the Star Wars Trilogy.

With the arrival of Europeans in the New World, much of the Amerindian population died because of the oppressive nature of the Spanish conquistadores. Having decimated the Amerindian population, the Spaniards and the other Europeans after them found a new source for supplementing the needed labour. In the year 1606, Dutch merchants brought 407 enslaved Africans to Trinidad, and by 1813, the slave population rose to 25, 696. Slave trading eventually ended in 1834, but as early as 1845 the British Crown began importing East Indians to the colony as indentured servants to offset the shortfall in the labour supply involved with sugar production. Today, in such a self-governed, plural society, the two major ethnic groups (Afro and Indo-Trinidadians) jostle each other for state control and power. And the racism expressed during and after the hustings is all too pellucid.

According to one researcher, the so-called equality of all people on this twin-island state is far from reality because “… electoral outcomes have reflected ethnic cleavages.” The disagreement between the races, especially on the island of Trinidad, has manifested itself not only in every election, but also in calypso lyrics and the carnival masquerade. Look at the satire expressed in the lyrics of this excerpt from the 2002 calypso From Naipaul to Shame as sung by Dr Hollis Urban Liverpool (The Mighty Chalkdust):

“Mr Chairman I thank thee for this grand Nobel Prize,

I am Vidia Naipaul from England where my heart lies,

Though I grew up on dhal, rice, baigan and roti,

I prefer baked beans, toast, jelly and English tea,

But dem East Indians in Chaguanas, Todds Road, and Couva,

Dey want me trade my English suit and put on a capra,

Dey want me trade my English loo and toilet paper,

For a latrine pit and a bottle of water.”

There is abundant evidence that a serious social problem exists. Social sustainability is difficult to achieve while such cleavages persist, but with time, there is hope that people will become more agreeable and understanding. I would be long gone, somewhere pushing up daisies. Nevertheless, I must establish that this racial equality that we all hope for in Trinidad and Tobago may take a whole junnum (10,000 years) or more to accomplish. The power of racism is probably an inbred gene riding on a chromosome in the people of Trinidad and Tobago. Could it be that the economic situation of some citizens caused racism to rise to a crescendo unmatched?

It would seem that many citizens are dissatisfied and unhappy about how things have gone over the years in the country. Trinidad and Tobago was once known as the ‘tiger in the sea of pussycats.’ The twin-island state should have settled for the name ‘Squandermania.’ For the amount of money that flowed through this outcropping of rock in the Caribbean Sea, some believe that this country could have been the ‘Dubai of the Caribbean.’ Some countries do not have the natural resources that Trinidad and Tobago has but they became economic tigers! A classic example is Singapore. What did Singapore do that we did not do?

Although Trinidad is blessed with 99 acres of asphalt, many roads, especially in the rural areas, are riddled with potholes and landslides. Bridges, barriers and road signs are in dire need of repair. Apart from the poor roads, the hostility of drivers on such narrow roads, for example, Tobago’s Windward Main Road, leaves much to be desired in terms of road safety. It could be that Tobago wants to showcase this speeding madness as a new tourism product.

Noisy vehicles with their huge booming speakers constantly pierce the silence of residential neighbourhoods; some of them with speeds of up to 100 to 120 kms/hour. Don’t even mention the booming sounds emanating from rum shops and pubs in residential areas. Historic buildings are abandoned and left to rot away. Without a vote from the citizens, some of the buildings in Sangre Grande, Toco, and Manzanilla were demolished and carted away. Because of the denuded hillsides in the Northern Range, flash flooding with the attendant mud and debris plagues Port of Spain and several adjacent cities. Let’s not talk about the incidence of litter all over Trinidad by stink and dutty people. It’s apparent that some people prefer a la basse everywhere they go.

Homeless people continue to squat, even in government forest reserves earmarked for scientific research, for example, ‘The Aripo Savannah.’ Feral dogs roam the landscape, while vagrants make their homes on the sidewalks and constantly rummage through garbage bins for food. Piles of garbage litter the landscape. Sidewalks are broken, jagged and uneven. Manholes are sometimes left uncovered. Soap and paper towels are always in short supply in the airport restrooms. Used paper cups and plates, plastic bags, bottles and other detritus litter some of the rivers and beaches. The verges of roads and highways do not escape the littering plague. It could be that tourists have a longing to experience the nastiness of a place that they visit. Trinidad and Tobago is so unlike other Caribbean destinations where tourism is the ‘bread and butter’ of the economy. There are reasons for our behaviour and lack of quality concerning tourism.

Trinidad has never had a true history of tourism due to its hydrocarbon-based economy and the development of the industrial sector after its independence in 1962. There was little growth and even stagnation in the tourism sector during 1977-1987. Moreover, there was no real need to develop a tourist industry since the exploitation of petroleum and natural gas became the economic driver. The abundance of oil and gas money engendered an anti-tourist nationalism. In fact, Dr Eric E. Williams, the first prime minister of Trinidad and Tobago did not concentrate on the development of the tourism industry for fear that the country would breed a generation of janitors and busboys.

The money obtained from the petroleum industry was short-lived. During the late 1980s and early 1990s, soft prices for petroleum on the world market ruffled the takings of the treasury. In view of the situation, the government sought a solution to bolster the flagging economy. Tourism suddenly came to the forefront, but isn’t it a bit late to start training “busboys and janitors?” How do you educate a non-tourism generation of people to a tourism-oriented one? Maybe Trinidad and Tobago should take a page out of the book of tourism in Barbados.

It’s kind of crass, but I cannot ‘put mih mouth in boli (calabash) tuh say dis:’ The busboys and janitors eventually became ‘grasscutters and road sweepers’ in the Community-Based Environmental Protection and Enhancement Programme. (CEPEP). As with everything else in Trinidad and Tobago, corruption is the cause for calamity, chaos, and confusion. CEPEP is now defunct because of corruption. Corruption is one thing. Worrisome is the word when I consider how people treat our physical environment.

After a ‘River Lime’ (hang out, party, shoot the breeze), the rivers become polluted with the entrails of animals and feathers. Some religions, after certain rites are performed, throw human hair and other foreign matter into the rivers. It is difficult not to witness young strong youth literally ravaging a garbage truck on the Beetham Highway as it slows down to enter the Port of Spain dump or what we refer to as the La Basse. Traffic jams are endless, and long lines at the banks or other service institutions (public or private) are unavoidable. It’s the same old, same old nature of things: government come, government go. This brief description brings to the fore a snippet of an image of T&T that many ignore.

Tourists, both domestic and foreign, need a modicum of security and safety when they visit any country. Entertaining tourists under such conditions is simply abhorrent. The question is: How sustainable is such a scenario? The solutions to some of the problems raised are easy to fix, while others are not so simple to arrest. It might sound as cliché, but total quality management (TQM) on the part of the political directorate is required if the country is to move towards social sustainability. Education of the masses about their role in protecting the environment; to hold and accept the environment as a personal concern, is an imperative if the tourism product is to pay dividends.

As anywhere else, Trinidad and Tobago is dealing at present with increased crime, partially generated by illicit drug peddling. Gun slinging, home invasions and banditry are everyday issues. We have more national security issues than the National Geographic! It is known worldwide that Trinidad and Tobago is a transhipment point for illegal drugs coming out of South America. There is a literal war over drug turf “behind the bridge” in Port of Spain.

As far as possible, tourists should avoid these areas. A map of Port of Spain has been sanitised to prevent tourists wandering too far from where is considered safe. However, right now, SOE or no SOE, no one is safe and nowhere is safe! This is not a good sign for any kind of venture in tourism; this is probably the most serious threat to social sustainability. Many foreign countries have already posted travel warnings about the situation in Trinidad and Tobago.

Much of what is written here is an adaptation from my chapter titled: ‘Social Sustainability of Tourism in a Culture of Sensuality, Sexual Freedom and Violence: Trinidad and Tobago,’ published in the book Island Tourism—Sustainable Perspectives (2011) edited by Professors Jack Carlsen and Richard Butler. Fifteen years after this publication, behaviours have not changed much in Trinidad and Tobago. The bad people, some of the offspring of enslaved Africans and indentured servants, are still harassing the country. The record shows that every day there is a murder or two or even three, four or five. Let’s not talk about auto theft, home invasions, banditry and praedial larceny.

The power struggle continues in place. Political parties daily elbow one another to gain control of the masses. As I said in my last article on Caribbean News Global: ‘When elephants fight it’s the grass that suffers.’ While the political infighting is ongoing, some elephants do not care who gets hurt. However, I must give voice to the fact that the ‘grass’ has much power to stop the battles of the elephants. The not-so-good people, and all the bad people, also have power. This power in these belligerent people is an evil that stalks the land. Such gun-toting people continue to bring people to their knees.

Let us take note that even in the protective services, there are officers who swore to ‘Protect and Serve’ whose activities are questionable. In June 2026, according to Allister Guevarro, commissioner of police, there were approximately 280 to 290 police officers on suspension from the Trinidad and Tobago Police Service (TTPS). Seventeen of these suspended officers were formally revoked and dismissed in July 2026. The Roman poet Juvenal asked the question: “Quis custodiet ipsos custodes?” (Who guards the guards?)

It is my sincere hope and prayer that the good people of Trinidad and Tobago will somehow override the interests and activities of the bad people. May God help us!

USCG awards contract for construction of housing and maintenance support facility in Seward, Alaska

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USCG awards contract for construction of housing and maintenance support facility in Seward, Alaska

WASHINGTON, USA – The US Coast Guard awarded a design-build contract valued at approximately $9.8 million to Orion Construction Inc. of Wasilla, Alaska on July 20, 2026. The contract covers construction of six housing units and one maintenance support building in Seward.

This infrastructure project is funded by the Fiscal Year 2022 Infrastructure Investment and Jobs Act. These new housing units are a key element of the Coast Guard’s efforts to homeport a Fast Response Cutter in Seward, providing modern facilities for assigned Coast Guard personnel and their families. This housing project accelerates Coast Guard investments in shore infrastructure facilities in Seward, designed to improve quality of life and enhance operational readiness for critical missions.

“These new housing units and maintenance facility are essential to supporting our personnel and families as we expand the Coast Guard footprint in Seward,” said Rear ambassador. Bob Little, commander, US Coast Guard Arctic District. “This investment gives our crews safe, modern accommodations and strengthens our ability to achieve operational excellence and mission success in Alaska and the Arctic region.”

The contract includes four four-bedroom housing units and two three-bedroom units. The housing units, including one in compliance with the Americans with Disabilities Act, will be built in duplexes. The work also includes site development, utility infrastructure, and landscaping. Construction is expected to be completed by January 2028.

Six Fast Response Cutters have been delivered to Alaska to date. These cutters provide enhanced capabilities for missions such as search and rescue, fishery patrols, drug and migrant interdiction, national defense, and ports, waterways, and coastal security. The crew of the new Fast Response Cutter will primarily operate in the Aleutian Islands, Bering Sea, Gulf of Alaska, and North Pacific Ocean. Coast Guard Cutter Frederick Mann was commissioned in May and is temporarily homeported in Kodiak until facilities in Seward are ready.

The Coast Guard is assessing additional critical infrastructure and housing needs in both locations to support the arrival of new assets, ensuring the United States is prepared to defend its interests and meet emerging challenges in the Arctic for decades to come.

AI’s future depends on the accessibility of data – APEC Roundtable

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AI’s future depends on the accessibility of data – APEC Roundtable

CHENGDU, China – Ministers and senior representatives at the Data for Growth High-Level Roundtable in Chengdu on Saturday highlighted the growing importance of data as a driver of innovation, productivity and growth, calling for deeper collaboration to unlock its potential across the Asia-Pacific.

Opening the roundtable, Liu Liehong, administrator of China’s National Data Administration said data has become a foundational resource and an engine of innovation, reshaping how economies produce, govern and grow.

“Data is opening new spaces for economic and social development, it is already deeply integrated in scientific research, public services and infrastructures,” Liu said. “The value of data keeps expanding, but how to harness it to empower development and benefit our people is a common task for all of us.” He added. “Strengthening exchange and cooperation around data for growth will help further enrich APEC’s digital economy cooperation.” 

Discussions highlighted the need to make data more accessible while ensuring it is used responsibly, recognising that high-quality data has become an essential resource for an economy increasingly powered by artificial intelligence (AI).

“The ways in which data resources are developed and used are diverse, and no single model is applicable to all economies. Open exchange can enhance understanding, experience-sharing can promote mutual learning, and practical cooperation can deliver win-win outcomes,” Liu said. 

Discussions underscored the importance of interoperable data governance in giving businesses more confidence to use and share data. When data is integrated into business models and decision-making in a secure and responsible manner, ministers highlighted how it can increase efficiency, creativity and competitiveness.

Rather than identical rules, speakers called for different systems to work together securely as data moves across the region, delivering faster trade and more resilient supply chains.

“Advancing data for growth should become an important direction for the future joint efforts of APEC economies. As digital technologies continue to develop, data-related issues have moved beyond any single field and increasingly span innovation, industry, trade, logistics, public services and many other areas,” Liu emphasised.

Participants also highlighted practical work on sharing public data to deliver benefits for businesses and society. Weather data was one key example; when integrated with predictive AI models, it can help farmers protect crops, logistics operators prepare for disruptions and emergency services respond faster.

“Data creates value, and cooperation unlocks potential. Today’s roundtable is not the end of a discussion, but a new starting point for APEC to deepen exchange and cooperation around data for growth to strengthen policy communication and share the benefits of the digital era,” Liu concluded. 

Strengthening resilience across an increasingly interconnected financial system

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Strengthening resilience across an increasingly interconnected financial system
    • As firms increasingly rely on common third-party service providers, delivering operational resilience is no longer just about your own individual organisation. It’s about strengthening resilience across the wider network that supports the UK financial system.

By Mark Francis

Think of the last time you made a payment, transferred money, used a banking app or logged on to online financial services. Did you give much thought to the infrastructure that makes those essential everyday transactions possible?

Let’s be honest, you probably didn’t. Most people don’t – until something goes wrong.

Financial services rely on a network of providers working behind the scenes – including technology, data and operational service providers.

These are so important to the resilience of the financial system that the government granted us powersLink is external to implement a new oversight regime, and has now designatedLink is external the first critical third parties (CTPs).

That means, the Bank of England, PRA and FCA will together directly oversee these providers, with a targeted, proportionate focus on ensuring the services they provide to UK financial firms and financial market infrastructures (FMIs) are resilient.

Our oversight aims to address system level risks, where many firms rely on the same services from common service providers. And improve coordination and information-sharing across the sector, particularly during major incidents. This complements the existing rules in place for regulated firms to manage the risks they individually face.

Operational resilience has evolved

The primary focus of our operational resilience regulatory framework has been on the ability of individual firms to prevent, respond to and recover from disruption to maintain financial stability and confidence – including from risks arising from their outsourcing and third party arrangements.

That remains vital.

What’s changed is the environment in which those firms operate.

Banks, insurers, payment firms and FMIs increasingly rely on a relatively small number of common third party service providers. These may be cloud providers, technology firms, data providers or other specialist service providers.

The benefits of this approach are obvious: it can support innovation, boost efficiency, help firms improve the services they offer to millions of consumers and businesses, and contributes to the competitiveness and growth of UK financial services.

But what happens if there’s a failure or disruption to the services that one of these third parties offer?

Recent events have demonstrated how interconnected such modern services have become. The CrowdStrike outage in 2024 affected a wide range of organisations around the world, while cyber incidents affecting retailers such as Marks & Spencer and Jaguar Land Rover showed how disruption can quickly extend beyond a single organisation.

These incidents starkly illustrate how operational disruption at one provider can affect many organisations simultaneously, including financial services.

Taking a system-wide view

Having more visibility across the system is becoming increasingly important, as the financial services landscape has changed.

The numbers speak for themselves.

In 2025, 27 percent of incidents reported to the FCA by firms were attributed to a third-party issue, and 37 percent of those were cyber-related.

Operational resilience can’t solely be about understanding risks within individual firms. It is also about understanding how disruption at commonly used critical service providers could affect the wider system.

The CTP regime adds this essential system-wide perspective. It’s not about replacing firms’ responsibilities for managing their own operational resilience and third party arrangements. Nor is it about regulating every third party provider that firms use.

Put simply, it’s about making sure our oversight reflects the way the system actually works today.

What this means in practice

This regime can’t and won’t end all disruptions. But it is designed to make a practical difference, particularly when disruption occurs.

For critical third parties, the expectations are clear. They must identify and manage risks relating to the critical services they provide. They need to test and improve their resilience arrangements, and engage openly with regulators and firms, especially during incidents.

The regime also aims to promote greater transparency and stronger communication between critical third parties and their UK financial services clients, including through activities such as joint testing exercises and the sharing of self-assessments where appropriate.

For firms, the regime should support better visibility of risks and improved communication during major incidents. When many firms are affected by the same disruption, timely information and effective coordination become even more important.

And for consumers and businesses, the services they rely on every day should be more resilient to disruption and, where disruption does occur, be restored quickly.

No framework can eliminate operational incidents entirely. But strengthening resilience across the wider system that supports financial services can help reduce the likelihood that disruption escalates or spreads unnecessarily.

Building resilience together

One of the clearest lessons from recent years is that the operational resilience of the financial system is a shared mission. A more resilient system helps create the conditions for firms to innovate, invest and grow with confidence.

Firms, regulators and third-party providers all play an important role in maintaining the services that consumers, businesses and markets rely upon. The CTP regime reflects our connected reality. It recognises how the financial system operates today and ensures our approach to resilience evolves, so that the financial system can continue to safely serve businesses and consumers now and in the future.

As the regime is now live, firms should continue to consider how they identify, test and manage dependencies on critical services. Designated CTPs should engage openly with regulators and firms, including through testing and information-sharing.

  • Mark Francis, FCA Director of Specialists and Simon Dixon, Director of Supervisory Risk Specialists at the Prudential Regulation Authority (PRA)

Jamaica: SEZ Master Plan to serve as strategic blueprint for future investments

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Jamaica: SEZ Master Plan to serve as strategic blueprint for future investments

By Sherika Williams

KINGSTON, Jamaica, (JIS) – Jamaica is taking a major step towards creating a nationally coordinated industrial development strategy through its first Special Economic Zone (SEZ) Master Plan, which will guide where future investments, industrial clusters and export-oriented industries are developed across the country.

The latest stakeholder consultation on the development of the Master Plan, held recently at The Jamaica Pegasus hotel, brought together representatives of government ministries and agencies, the Inter-American Development Bank (IDB), global consulting, engineering and architecture firm IDOM, private-sector stakeholders and the Jamaica Special Economic Zone Authority (JSEZA).

Chief Executive Officer (CEO) of JSEZA, Kelli-Dawn Hamilton, said the Master Plan will serve as a strategic blueprint for the future development of Special Economic Zones (SEZs) across Jamaica.

“Once the SEZ Master Plan is complete, it will provide more transparency, predictability and even more opportunity for companies to establish an SEZ,” Hamilton explained. One of the plan’s most significant outcomes will be the identification of appropriate locations for future SEZs and the sectors best suited to each area.

“It is that predictability, that consensus of positioning from a location and sector perspective that will allow us to be very deliberate in how we tool our country for the future, what sectors are we focusing on and how we’re going out and really selling Jamaica as an investment destination.”

Hamilton noted that the Master Plan will also guide workforce development, infrastructure planning and investment promotion while supporting the creation of industry clusters capable of driving long-term economic growth.

These clusters could include logistics and distribution hubs linked to Jamaica’s ports and airports, advanced manufacturing operations such as light assembly, agro-processing and medical or technology-related production, as well as the incorporation of green energy solutions, including solar power, energy-efficient facilities and cleaner technologies to reduce operating costs and support sustainable industrial development.

“This is a catalyst, really, and part of the work that we have to do to grow industry in this country. This is one more step towards doing that,” Hamilton said. Stakeholder engagement remains central to the process, noting that consultation is critical.

“We have to hear from our stakeholders, understand what they need and execute according to what they need. If we are creating something that does not meet their requirements, then it makes no sense,”  Hamilton emphasised.

Acting senior director in the legal services unit at JSEZA, Shaquille Douglas, said the consultation marked another important milestone in developing a strategic framework that will shape the future of Jamaica’s Special Economic Zones, “and strengthen our position as a competitive destination for investment, trade, innovation and sustainability.”

Douglas noted that the Master Plan extends beyond identifying locations for Special Economic Zones, focusing instead on creating a stronger ecosystem to maximise their economic impact.

“As we gather to validate the findings of the assessments and sector analyses, it is important to understand that successful Special Economic Zones are built on more than infrastructure and businesses. They are built on sound regulation, institutional effectiveness and stakeholder confidence.”

Douglas added that the process presents an opportunity to ensure Jamaica’s legislative and regulatory framework remains responsive to changing global economic realities, while supporting higher-value investments, innovation-driven industries and sustainable development.

The development of the Master Plan forms part of JSEZA’s ongoing efforts to create a more coordinated and competitive Special Economic Zone regime that supports investment, strengthens linkages with local industries and enhances Jamaica’s position in regional and global value chains.

Caribbean nations urged to build resilient energy systems to support long-term growth

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Caribbean nations urged to build resilient energy systems to support long-term growth

GEORGETOWN, Guyana, (DPI) – Prime Minister of Guyana, Brigadier (Ret’d) Mark Phillips has called on Caribbean nations to modernise their electricity infrastructure, strengthen procurement systems, and build energy networks capable of withstanding future shocks while supporting sustained economic growth.

Prime Minister Phillips said that the decisions made by governments, utilities and industry leaders today will shape the Caribbean’s development for decades. He was speaking at the opening of the Caribbean Electric Utility Services Corporation (CARILEC) Engineering and Procurement Conference and Exhibition 2026 on Sunday at the Marriott Hotel in Kingston, Georgetown.

According to him, electricity has become the foundation on which modern economies are built, as it is essential for manufacturing, healthcare, education, transportation, digital services and investment.

“The Caribbean must modernise its grids, the Caribbean must procure smarter, and the Caribbean must build systems that can withstand shocks while supporting growth,” he said. Underscoring Guyana’s unprecedented economic expansion, prime minister Phillips said the government’s focus is on meeting growing electricity demand as well as staying ahead of it through an ambitious energy transformation programme.

“This transformation will require smart substations, automated networks, advanced metering infrastructure, real-time monitoring, stronger cyber security, predictive maintenance, artificial intelligence-assisted operations, distributed energy resource integration, and digital customer engagement,” the prime minister said.

In addition, he reaffirmed Guyana’s support for greater regional cooperation through CARILEC, as the organisation provides an important platform to improve technical standards, procurement practices and knowledge sharing among Caribbean countries.

The prime minister also outlined the government’s long-term strategy to diversify the country’s energy mix. He said the gas-to-energy project will reduce the country’s dependence on imported fuel by providing an additional 300 megawatts of generating capacity, lowering electricity costs and improving reliability.

However, he stressed that natural gas is only a transitional solution, with Guyana’s future energy system expected to incorporate hydropower, utility-scale solar, battery energy storage and other clean technologies, including the proposed Amelia Falls Hydropower Project.

Prime Minister Phillips encouraged delegates to use the forum to strengthen regional collaboration, exchange technical expertise and advance a modern, sustainable and future-ready energy sector for the Caribbean.

The event is being held from July 26 to July 30 under the theme “Grid Modernisation, Resilient and Strategic Procurement in Focus,” with more than 200 delegates from across the region attending.

Canada opens third port of entry along Windsor-Detroit border

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Canada opens third port of entry along Windsor-Detroit border

By Caroline Minks

TORONTO, Canada (CICNews) – Border authorities have opened an additional crossing at one of the busiest stretches of the Canada-US border. The Gordie Howe International Bridge has officially opened to traffic as of July 27, 2026, according to a news release published by the Windsor-Detroit Bridge Authority on July 24.

Spanning the Detroit River, it provides a third crossing between Ontario and Michigan, alongside the Ambassador Bridge and Windsor–Detroit Tunnel, two of the most congested border crossings in North America.

The bridge was built to relieve a longstanding bottleneck in the Windsor–Detroit corridor. Crossing the ambassador Bridge, for example, can require a multi-hour wait—particularly during peak hours.

The new bridge and border crossing will be open 24 hours a day, seven days a week, and will allow passage for automobiles, motorcycles, RVs, and semi-trucks.

The port of entry includes express lanes for members of the Trusted Travellers Program (NEXUS) and qualifying transporters of commercial goods (FAST).

Pedestrians and cyclists will also be able to cross the bridge via a multi-use path separate from motor vehicle traffic beginning August 5, making it the first Windsor-Detroit crossing available to non-motorized traffic.

The standard passenger vehicle toll will be CAD 8 (5.75 USD), and CAD 12 (8.75 USD) for large commercial trucks, oversized vehicles, and larger passenger vehicles. The multi-use path will be toll-free.

According to a July 24 press release from the Canada Border Services Agency (CBSA), the Gordie Howe International Bridge is now “Canada’s largest and most technologically advanced land border crossing.”

The opening of the new bridge, designed to support faster and more reliable cross-border travel, marks the culmination of over two decades of collaboration between Canadian and US authorities.

The bridge is jointly owned by the Canadian federal government and the State of Michigan.

Its planned opening for June 12 had been delayed on account of disputes over the treatment of toll revenue, and the ceremonial opening on July 24 took place without the presence of US officials.

The bridge is named for Gordie Howe, a Canadian hockey icon whose professional career was largely defined by his years with the Detroit Red Wings.

Travellers planning on using the new crossing can find real-time border wait times on the CBSA’s official port of entry webpage.

Those entering Canada through this port of entry must have the appropriate travel documentation.

Following the opening of the Gordie Howe International Bridge, Canada now has a total of 118 land border ports of entry.

Putting people at the centre of UK climate adaptation & resilience

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Putting people at the centre of UK climate adaptation & resilience
    • This executive summary for policymakers presents the key findings and policy considerations of the ACCESS Task Force on Adaptation and Resilience, which was supported and co-chaired by the Government Office for Science. The full report is available here. This summary and the main report are based on a synthesis of published social science evidence, a range of expert inputs, and two workshops. These do not reflect UK government policy or official positions.

By Government Office for Science

LONDON, England – The impacts of climate change are already being felt in the UK. Changing temperatures, seasonal shifts and increased frequency and severity of extreme events — such as storms, drought and wildfires — are exacerbating and compounding existing risks to society, environment, and economy. These impacts are not experienced evenly. Some people are more vulnerable and less able to adapt than others due to their social situation, income, access to support and where they live.

The evidence from social science research points to the value of taking a people-centred approach to climate adaptation. This is a way of designing and delivering adaptation policy that considers human wellbeing, agency, and lived experience, recognising that adaptation is not simply a technical or engineering problem but an ongoing social process that will need to adjust and respond to changing climate and societies. While technical solutions like physical infrastructure are essential, they are most effective when combined with an understanding of how people experience, respond to and shape change.

Integrating people-centred approaches into policymaking can strengthen the design of adaptation and resilience measures, options and responses by providing a richer understanding of people’s views, needs, public support and uptake, mindful of existing risks and vulnerabilities.

The full report synthesises social science evidence for policymakers, alongside six case studies and a list of useful resources and practical tools. It aims to show that including social science insights and approaches at the start of the policymaking process, and during every stage of policy development, can enable improved design and delivery of adaptation policy.

Government chief scientific adviser, Professor Dame Angela McLean, said:

“The actions that people can take, and their effects, are influenced by a range of social, behavioural, economic, and cultural factors. To adapt well to our changing climate, we need to understand what affects the choices people can make and use that understanding when designing policies and support.

“This report makes an important contribution to that agenda. It summarises scientific insights, concepts, methods and approaches that can be used to help adaptation and resilience policy be more effective, more equitable, and more grounded in the realities of everyday life.

“The ACCESS Adaptation and Resilience Task Force comprised 13 academic and government social scientists with extensive subject knowledge and experience of working across the science-policy interface.”

Why Venezuela’s energy reforms are bringing investors back to the table in London

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Why Venezuela’s energy reforms are bringing investors back to the table in London
  • The Venezuela Energy Week London Industry Showcase taking place next week will unpack the regulatory changes, upstream economics and market opportunities shaping the country’s next investment cycle

LONDON, England — With Venezuela introducing sweeping reforms to its hydrocarbons sector and renewed international interest gathering pace, the Venezuela Energy Week London Industry Showcase will bring together policymakers, investors and industry leaders on July 30 to examine how the country’s evolving investment landscape is reshaping opportunities across the oil and gas value chain.

Hosted as part of the lead-up to Venezuela Energy Week 2026, the event will move beyond discussions of resource potential to focus on the commercial realities driving the sector’s next phase of growth.

The agenda opens with a keynote address outlining the government’s strategic vision for the sector, including production targets, investment priorities and the policy framework designed to attract long-term international capital. As Venezuela works to accelerate upstream development, the session will offer insight into the country’s roadmap for rebuilding one of the world’s largest hydrocarbon industries. That strategy is already translating into commercial activity: Repsol signed an agreement in April with Venezuela’s Ministry of Hydrocarbons and PDVSA to regain operational control of the Petroquiriquire joint venture and increase production, followed in June by a memorandum of understanding to evaluate development of the Horcón area near Lake Maracaibo.

Building on this outlook, attendees will receive an in-depth overview of Venezuela’s newly enacted hydrocarbons law and its implementing regulations. The session will examine the upstream business models now available under the revised framework and how they are expanding investment flexibility across exploration, development and production. The reforms are already reshaping the operating landscape, with Chevron, Repsol and Eni among the international companies currently migrating their contracts to Venezuela’s new hydrocarbons regime, which provides greater operational autonomy under an updated fiscal framework.

The commercial case for investment will come into focus through an asset-level assessment of Venezuela’s upstream competitiveness. Focusing on mature fields in the Maracaibo Basin and extra-heavy crude developments in the Orinoco Belt, the session will evaluate field valuations, breakeven economics and the competitive advantages created by the country’s revised fiscal regime, giving investors a clearer picture of where value is emerging. In April, Chevron signed two agreements with PDVSA to increase its stake in the Petroindependencia joint venture to 49 percent and add the Ayacucho 8 block alongside its Petropiar operations, further strengthening its position in the Orinoco Belt.

As production continues to recover, efficient routes to international buyers will play an equally important role in sustaining growth. A dedicated presentation will examine how Venezuela is optimising storage infrastructure, strengthening export logistics and rerouting crude into premium global markets following the significant inventory clearances achieved earlier this year. The improving export outlook is also drawing renewed interest from international commodity traders, including Vitol and Trafigura, as Venezuelan crude volumes increasingly return to global markets.

The program concludes with a high-level panel discussion featuring international companies with firsthand experience operating in Venezuela. The conversation will examine the practical realities of doing business in the country, from investment and partnership opportunities to operational challenges and the outlook for future collaboration under the evolving regulatory framework.

As the first international event leading up to Venezuela Energy Week 2026, the London Industry Showcase offers a timely opportunity for the global energy community to assess how policy reform, competitive project economics and improving market access are converging to reposition Venezuela as one of the world’s most closely watched upstream investment destinations.

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