Trinidad and Tobago have significant oil and natural gas resources and here are also the world’s largest reserves of natural asphalt. Natural gas is the most important source of energy and generates all electricity.
Commercial oil extraction has been around since the early 1900s and by the middle of the century oil production was the largest industry. But since the 1990s, the extraction of natural gas has been more extensive. Trinidad has one of the largest natural gas processing facilities in the world and is a leading exporter of liquefied natural gas (LNG).
COUNTRYAAH: Major exports by Trinidad and Tobago with a full list of the top products exported by the country. Includes trade value in U.S. dollars and the percentage for each product category.
The natural gas supplies cheap electricity to the country and it is also used in the local industry, including oil refining. There is an oil refinery in Pointe-à-Pierre on the west coast, owned by Petrotrin. Products from the refinery are sold to the rest of the Caribbean as well as to the US and parts of Latin America.
Offshore oil drilling began in the 1950s and today most of both oil and natural gas are extracted offshore. Several private producers are active alongside the state oil and gas companies, Petrotrin and NGC.
Limestone and sulfur are also extracted in the country.
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