Extract from the PROBE
by Clyde Coward
Two major US oil companies are backing Barbados' Prime Minister Owen Arthur in the fierce, so-called fishing dispute with Trinidad and Tobago.
The background to the dispute got wings 20 years ago, when late TT Prime Minister George Chambers nationalised the TT oil sector.
Following nationalisation, US multi-national Texaco then with its Southern Caribbean headquarters in TT, left for Barbados, where subsequently it started exploratory drilling in deep marine waters off Barbados.
So far, Texaco's oil discoveries in Barbados' territorial waters have been marginal, and certainly not in keeping with oil and gas successes scored by local and foreign investors in TT's energy sector.
Recently, another US super major, ExxonMobil, began exploring for oil and gas in Caribbean waters.
But information on a joint venture between Petrotrin and ExxonMobil in the Gulf of Paria has been sketchy.
However, the PROBE, understands that ExxonMobil, who's also conducting extensive drilling operations in the Far East, is bidding for oil blocks off Barbados.
The PROBE was also informed of expansionist policies of both US multinational, Texaco and ExxonMobil in South Caribbean waters.
Said our informant, who's deeply involved in TT's energy sector: "American oil companies exploring for oil and gas in South Caribbean waters are pushing hard to make a breakthrough in the region."
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