Question 1

What is the Supplemental Petroleum Tax (SPT) in Trinidad and Tobago?

Accepted Answer

SPT is levied under the Petroleum Taxes Act on gross income from crude oil production, applying sliding scale rates triggered when weighted average crude oil prices exceed statutory thresholds.

Question 2

What are the statutory petroleum royalty rates administered by MEEI?

Accepted Answer

Standard government petroleum royalties administered by the Ministry of Energy and Energy Industries (MEEI) are set at 12.5% of the field market value of produced petroleum and natural gas.

Question 3

What is the Petroleum Profits Tax (PPT) rate for oil and gas producers?

Accepted Answer

Petroleum Profits Tax is assessed at 50% for upstream exploration and production companies, alongside an Unemployment Levy of 5%.

Question 4

Are deepwater exploration blocks granted preferential tax treatment in Trinidad?

Accepted Answer

Yes, offshore deepwater production sharing contracts (PSCs) benefit from zero-rated SPT regimes and tailored fiscal terms to incentivize capital-intensive offshore drilling.

Question 5

How does the domestic market obligation impact oil and gas valuations?

Accepted Answer

Producers supplying feedstock to Point Lisas petrochemical plants or domestic power generation sell under approved bilateral pricing formulas recognized by the BIR.

Fiscal Head	Statutory Rule	Amount (USD)	Amount (TTD)
Oil Production Value	50,000 bbl @ US$78.00	US$0.00	TT$0.00
Natural Gas Production Value	250,000 mmbtu @ US$3.50	US$0.00	TT$0.00
Wellhead Mineral Royalty (MEEI)	12.5% statutory royalty on gross wellhead revenue	US$0.00	TT$0.00
Supplemental Petroleum Tax (SPT)	Sliding scale triggered when oil price exceeds threshold	US$0.00	TT$0.00
Total Upstream Royalty & Production Taxes		US$0.00	TT$0.00

Trinidad Petroleum Royalty & SPT Fiscal Calculator

Petroleum Upstream Fiscal Breakdown

📊 Republic of Trinidad and Tobago Statutory Breakdown Matrix (BIR & NIBTT)

Engr. Muhammad Shahzad