The Board agreed that Trinidad and Tobago has made meaningful progress overall in implementing the 2016 EITI Standard.

A senior individual has been appointed to lead on the implementation, and senior government officials are represented on the MSGSC. The current representation from the government shows that the government is engaged and active in in all aspects of implementation including lifting confidentiality restrictions, dissemination of reports, outreach to other stakeholders and expanding coverage to the mining sector.

Oil and gas companies are actively and effectively engaged in the EITI process, both as providers of information and in the design, implementation, monitoring and evaluation. Industry representatives have taken part in outreach and efforts to promote public debate, both at a national level and in regional roadshows. The MOU signed between stakeholders have created an enabling legal environment.

There are no suggestions of any legal, regulatory or practical barriers to civil society’s ability to engage in EITI-related public debate, to operate freely, to communicate and cooperate with each other, to fully, actively and effectively engage on EITI-related matters or in relation to the EITI process. However, engaging with the CSOs wider constituency is less than optimal.

The mechanism followed in 2011 for selecting civil society members was allowed by the 2009 EITI Rules. However, it is not in line with the 2016 Standard. On the other hand, the MSG is functioning well, and stakeholders are adequately represented. The ToRs for the MSG addresses almost all the requirements of the EITI Standard. Stakeholders have not highlighted any significant deviations from the ToRs in practice.

The 2018 work plan is publicly accessible, produced in a timely manner and updated annually, with objectives aligned with national priorities. The work plan also includes follow up on recommendations from EITI reporting. The three constituencies were actively engaged in its elaboration. However, there is little evidence that it has been consulted with key stakeholders in the broader stakeholder groups.

The information listed in Requirement 2.2 regarding the award and transfer of licenses in the oil and gas sector is disclosed through the EITI Report. The situation in the mining sector is problematic. The licensing allocation procedures and the cadastral information are unclear. The government acknowledges these deficiencies and is addressing its remediation. However, timescale for achieving that is uncertain.

Information regarding all active oil and gas licenses is provided in the EITI Report. However, some required information in is missing. The government does not have an up-to-date data base of the mining licenses. A great number of the licenses are under revision and pending collecting necessary information. The government acknowledges these deficiencies and is addressing its remediation. Timescale for achieving that is uncertain.

The government’s policy on contract transparency is described in the 2016 EITI Report, which also provides an overview of current disclosure practice.

The 2016 EITI Report provides a comprehensive description of the legal framework and fiscal regime governing the extractive industries, including the degree of fiscal devolution, and addresses recent reforms. It also includes a description of the roles of the main regulatory bodies.

Trinidad and Tobago published a roadmap for disclosing beneficial ownership information. There has been some progress in implementation to date. Beneficial ownership legislation will establish a registry expected to collect information to be shared among enforcement agencies. The MEEI has considered that future oil and gas licensing rounds might include knowing the beneficial owners of bidders.

The report included information regarding the financial relationship between SOEs and the government including transfers of funds between SOE and state, retained earnings, reinvestment and third-party financing, government ownership including changes in 2016 and loans and guarantees. This also includes the level of ownership in oil and gas companies and authorizations for financial operations.

The 2016 EITI Report provides an overview of the extractive industries including the invitation to companies to express interest in exploration activities.

The volume and value of oil and gas production is disclosed. However, for mining, production values are missing.

EITI Trinidad and Tobago has disclosed information on total export volumes for hydrocarbon and refined products that were exported in 2016, disaggregated by commodity. It is also disaggregated by export destination. However, in accordance with Requirement 3.3 the value of exports is not provided in the report.

The International Secretariat’s initial assessment is that this requirement is not applicable in Trinidad and Tobago.

The EITI Report and Supplementary Report details the legal provisions that norms the payments made by extractive companies in Trinidad and Tobago. None of them include payments to regional corporations.

TTEITI has reported at project level for the fiscal year 2016 ahead of the required by the Standard. In accordance with Requirement 4.7, the data is disaggregated by individual company (i.e. project), revenue stream and government entity for all revenue streams.

The lack of assurances to government data (BIR and MEEI) is problematic. Also, the lack of completion of a significant number of revenue audits by the Ministry of Energy also affects data reliability. A significant number of companies did not comply with the agreed assurance. Reconciliation has been undertaken by a credible Independent Administrator, appointed by the MSG, and applying international auditing standards.

The 2016 Report documents materiality including the options considered, the limitations due to confidentiality provisions, thresholds and the rationale for the agreed definitions. Material revenue streams are clearly identified, alongside the government entities collecting them, and include all revenues listed in Requirement 4.1.b.. However, the lack of disclosure of total government revenues received is problematic.

The 2016 Report confirms that revenues collected in kind was material and disclosed the volumes sold and revenue received partially. However, the information is not disaggregated by individual buying company. There is not additional information on the type of product. There was no reconciliation with the buying companies. The report does not provide a clear picture on the share of production received by NGC from other operators.

Revenues from transportation of oil and gas were disclosed in aggregate. No detailed information such as tariffs, individual companies paying for this service, volumes transported was included. Payments were not reconciled. Transportation revenues represent about 3% of total revenues collected. Future reports could include a clear indication of whether transportation revenues were considered material.

Payments from SOEs to the government are disclosed and reconciled. Lack of comprehensive information about in-kind payments to SOEs is reflected in the assessment of Requirement 4.2.

EITI Reports have been published annually and the data has not been older than the second to the last complete accounting period. The MSGSC approved the reporting period of EITI Reports. Trinidad and Tobago is strongly encouraged to publish timelier EITI Reports. Although reports have been published within the allowed two years period many stakeholders signalled that timelier EITI data could be more useful.

The 2016 Report included a description of the distribution of revenues from extractive industries including those recorded in the national budget and in the Heritage and Stabilization Fund.

The 2016 Report (Supplementary Report) stated that the Constitution and the Municipal Corporation Act do not provide for any transfer of extractive revenues to local governments.

Reporting on revenue management and expenditures in encouraged but not required by the EITI Standard and progress with this requirement will not have any implications for a country’s EITI status. It is commendable that the EITI Report discusses budgeting and auditing processes, as well as revenue projections.

Some companies made voluntary social contributions in 2016. The 2016 EITI Report includes voluntary social expenditures for nine companies including the two SOEs NGC and Petrotrin in the hydrocarbon sector.

The 2016 EITI Report demonstrates that SOE does not undertake any quasi-fiscal expenditures.

The 2016 EITI Report includes all the information required on the contribution of the extractive sector to the economy.

Requirement 7.2 encourages the MSGs to make EITI reports accessible to public in open data formats. Such efforts are encouraged but not required and are not assessed in determining compliance with the EITI Standard. TTEITI has published brief summary reports. TEITI has published information through a data portal and other features for downloading data.

The MSG has reviewed and discussed the outcomes and impact of the EITI implementation, including through annual progress reports in accordance with Requirement 7.4. In preparing the annual progress report (and work plan), the MSG has extensive discussions on achievements, implementation gaps and improvements, and future challenges.

TTEITI has used innovative and smart communication tools that have impacted public debates from Parliament, to media, academic for a, youth organizations and affected communities. The TTEITI Reports are comprehensible, actively and widely promoted through varied channels. Trinidad and Tobago has an EITI Open Data policy that is in line with international data standards including some tools for downloading data.

EITI Trinidad and Tobago has consistently addressed the discrepancies from their reconciliation exercises and resolved them. Improvements in EITI implementation such as preparations for data collection have made reporting more efficient. The reports have included a wealth of recommendations to improve government systems and the MSG has raised concerns on the follow up of those recommendations.