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Trinidad and Tobago’s energy state enterprises recorded a combined operating surplus of $3.45 billion during October 2025 to May 2026, up 37 per cent from $2.52 billion in the corresponding period a year earlier, the Trinidad Guardian reported on October 22. The improvement helped strengthen the operating balance of the wider group described in the Ministry of Finance’s figures as the Rest of the Non-Financial Public Sector. That group recorded an operating surplus of $1,273.6 million, compared with $662 million over the same eight months of fiscal 2025. According to the Guardian’s account of the ministry’s October 12 economic review, operating revenue for the group rose 6.6 per cent to $40,626.1 million. Operating expenditure increased more slowly, rising 5 per cent to $39,352.5 million. The resulting surplus improved by $611.6 million. State enterprises contributed a $1,060.7 million improvement in their operating balance. Alongside the stronger energy results, non-energy state enterprises recorded a smaller operating deficit of $308.1 million. Trinidad Nitrogen Company Limited, known as Tringen, was a significant contributor to the energy improvement. It recorded an operating surplus of $445.6 million, reversing a $54.8 million deficit in the corresponding period a year earlier. The ministry attributed that performance to higher sales volumes, stronger international prices and increased demand in key markets, according to the report. Heritage Petroleum recorded an operating surplus of $2.49 billion. Its operating revenue declined marginally because of lower realised oil prices, but reduced operating costs more than offset the decline. The Guardian reported an improvement of $175.4 million in the company’s cash operations. Other reported operating surpluses included $898.7 million at Paria Fuel Trading, $364.8 million at Trinidad Generation Unlimited and $136.5 million at National Energy. Paria’s revenue increased by $2.03 billion, exceeding a $1.90 billion rise in operating expenditure. Trinidad Generation Unlimited and National Energy benefited from lower operating expenditure. Lake Asphalt and Petrotrin continued to record operating deficits, although both improved compared with the previous period. Lake Asphalt’s deficit narrowed by 47.3 per cent, while Petrotrin’s declined by 7.7 per cent. The stronger operating results were accompanied by a sharp reduction in capital transfers from Central Government to the wider public-sector group. Those transfers fell 53.9 per cent to $2.24 billion, down from $4.87 billion. Non-energy state enterprises received 70.1 per cent of the transfers and public utilities received 29.9 per cent; energy state enterprises received none during the period. The figures therefore show different trends in operating performance and capital support. As the Guardian noted, an operating surplus does not represent an equivalent amount of cash remaining after capital spending, debt repayments and other cash movements.
Trinidad and Tobago’s energy state enterprises recorded a combined operating surplus of $3.45 billion during October 2025 to May 2026, up 37 per cent from $2.52 billion in the corresponding period a year earlier, the Trinidad Guardian reported on October 22. The improvement helped strengthen the operating balance of the wider group described in the Ministry of Finance’s figures as the Rest of the Non-Financial Public Sector. That group recorded an operating surplus of $1,273.6 million, compared with $662 million over the same eight months of fiscal 2025. According to the Guardian’s account of the ministry’s October 12 economic review, operating revenue for the group rose 6.6 per cent to $40,626.1 million. Operating expenditure increased more slowly, rising 5 per cent to $39,352.5 million. The resulting surplus improved by $611.6 million. State enterprises contributed a $1,060.7 million improvement in their operating balance. Alongside the stronger energy results, non-energy state enterprises recorded a smaller operating deficit of $308.1 million. Trinidad Nitrogen Company Limited, known as Tringen, was a significant contributor to the energy improvement. It recorded an operating surplus of $445.6 million, reversing a $54.8 million deficit in the corresponding period a year earlier. The ministry attributed that performance to higher sales volumes, stronger international prices and increased demand in key markets, according to the report. Heritage Petroleum recorded an operating surplus of $2.49 billion. Its operating revenue declined marginally because of lower realised oil prices, but reduced operating costs more than offset the decline. The Guardian reported an improvement of $175.4 million in the company’s cash operations. Other reported operating surpluses included $898.7 million at Paria Fuel Trading, $364.8 million at Trinidad Generation Unlimited and $136.5 million at National Energy. Paria’s revenue increased by $2.03 billion, exceeding a $1.90 billion rise in operating expenditure. Trinidad Generation Unlimited and National Energy benefited from lower operating expenditure. Lake Asphalt and Petrotrin continued to record operating deficits, although both improved compared with the previous period. Lake Asphalt’s deficit narrowed by 47.3 per cent, while Petrotrin’s declined by 7.7 per cent. The stronger operating results were accompanied by a sharp reduction in capital transfers from Central Government to the wider public-sector group. Those transfers fell 53.9 per cent to $2.24 billion, down from $4.87 billion. Non-energy state enterprises received 70.1 per cent of the transfers and public utilities received 29.9 per cent; energy state enterprises received none during the period. The figures therefore show different trends in operating performance and capital support. As the Guardian noted, an operating surplus does not represent an equivalent amount of cash remaining after capital spending, debt repayments and other cash movements.
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