Energy Chamber welcomes new Chairman
Photo: Dwight Mahabir. Credit: Energy Chamber of Trinidad and Tobago.
Dwight Mahabir, Chief Executive Officer of DAMUS Ltd is the new Chairman of the Energy Chamber of Trinidad and Tobago.
He was appointed to the position at the Chamber’s post Annual General Meeting (AGM) event last Thursday.
In his address, Mahabir noted four areas of the national budget, which were welcomed by the Energy Chamber.
He highlighted the changes to Supplemental Petroleum Tax (SPT) and the opportunity created for new investment in the traditional oil sector.
The liberalisation of the fuel market and the review of electricity prices was also highly applauded, along with the commitment for a total overhaul of the energy sector fiscal regime over the next 12 months.
Finally, the Chamber welcomed the opportunity to fully develop the country as an energy services hub for the wider Caribbean region.
The incoming Chairman acknowledged the Chamber will need to work closely with the Ministry in these areas.
He said: “In this regard the Energy Chamber was very encouraged by the Minister of Finance’s commitment to work with us on getting the details right and also finding the fiscal mechanisms to attract investment for small offshore oil producers.
Minister Khan – we look forward to working in close partnership with the Ministry of Energy on all of the technical details so we can meet the objective of encouraging investment and reviving the traditional oil sector. As you frequently say – oil is still good business, at least for now.”
Mahabir replaces Executive Chairman, Massy Energy and Industrial Gases Business Unit, Eugene Tiah.
Tiah will, however, continue to serve on the Board as our Immediate Past Chairman.