DEVELOPMENT STRATEGY AND
NATIONALISATION IN THEOIL INDUSTRY OF TRINIDAD-TOBAGO:
THE CASE OF SHELL TRINIDAD LIMITED
A THESIS PRESENTED TOTO
THE LATIN A;vJERICAN FACULTY OF SOCIAL SCIENCESCFLACSO)
FOR THE DEGREE OFMASTER IN DEVELOPMENT STUDIES
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JOY CAROL JEFFERSAUGUST, 1980
DEVELOPMENT STRATEGY ANDNATIONALISATION IN THE
OIL INDUSTRY OF TRINIDAD TOBAGOTHE CASE OF SHELL TRINIDAD LIMITED
A THESIS PRESENTED
TOTHE LATIN A~ERICAN FACULTY OF SOCIAL SCIENCES
(FLACSO)FOR THE DEGREE OF
MASTER IN DEVELOPMENT STUDIES
DIRECTOR:CO-DIRECTOR:
ASESSOR:
Sabine Fischer, (FLASCO), QuitoMr. Carl Parris, Snr. Lecturer in Departmentof Government University of the West Indies,Trinidad.Lcdo. Gonzalo Abad, Director of FLASCO, Quito
JOY CAROL JEFFERSAUGUST, 1980
CONTENT
Acknowledgements.ContentList of Tables
Introduction
CMAPTER
1 HISTORICAL/THEORETICAL PERSPECTIVE
1.1 Theoretical Reference
1.2 Theoretical Adjustments
1.3 Conclusion
8
2 AN OVERVIEW OF Ti-lE OIL Il~DUSTRY IN TRI1HDAD 25
AND TOBAGO
2.1 British Capital and tne Oil Industry
2.2 U.S. Capital and the change in tne
structure of tne Oil Industry
2.3 The Impact of tne 'Energy Crisis' on
the Oil Industry.
3 AN INTERNAL ANALYSIS OF THE OIL INDUSTRY
3.1 Tne Oil Companies
3.1.1 Texaco Trinidad Limited
3.1.2 Amoco Trinidad Limited
3.1.3 Tesoro Petroleum Oil Com~any
3.1.4 Trinidad and Tobago Oil Company
3.2 Extension of the Oil Industry
47
4. THE Ii-1PORTANCE OF OIL RESOURCES TO TtiE 67
ECONOMY
4.1 Contribution to the Gross Domestic
Product.
4.2 Contribution to Government Revenues
4.3 Contribution to Foreign Trade
CHAPTER
5
6
7
8
9
STATE ACTIVITIES IN THE ECONOMY
5.1 Political Ideology vis-a-vis
Development Strategy
5.2 The First Development Strategy
Based Upon tne Unrestricted
Invitation of Foreign Capital
5.3 Implementation of the Policy of
Greater State Participation in
the Economy.
5.3.1. The Transference of Oil
Excedents to Otner Sectors
of the Economy
5.3.1.1 Oil Excedents and
Heavy Industries
5.3.2. Government Participation 1n
the Oil Sector
TME NATIONALIZATION OF SHELL TRINIDADLIMITED
6.1 Shell's decision to liquidate its
Trinidad Operations.
6.2 Alternatives Open to the Government
6.3 Factors affecting tne Government's
decision to nationalize.
CONCLUS IOj~
APPRENDICIS
SELECTED BIBLIOGRAPHY
78
110
124
127
139
LIST OF TABLES
2.1 Crude Oil Production 1908-1910, 1910-1950
(bi-annually in Trinidad and TODago
2.2 Revenue Per Barrel of Oil Produced.
2.3 Annual Statistics on Crude and Gas Pro
duction 1968-1978
2.4 Annual Statistics on Refining,1968-1978
2.5 Annual Statistics on Crude Im~orts/
Exports,1968-1978
3.1 Annual Crude Oil Production in Trinidad
and Tobago by Company, 1970-1978.
3.2 T~rougnput Levels of tne Texaco Pointe-a
Pierre Refinery, 1974-1978.
3.3 Average Product Distribution of Local
Refine ries.
4.1 Annual Rates of Growth of G.D.P. of
Trinidad and Tobago and the Oil Sector,
1967-1976.
4.2 Gross Domestic Product at Factor Cost
by Sector of Origin, 1970-1977.
4.3 Percentage Contribution to G.D.P. by
Sectors, 1970-1977
4.4 Contribution of Oil Revenue to Total
Recurrent Revenue in Trinidad-Tobago,
1968-1978.
4.5
4.6
5.1
5.2
5.3
5.3 (a)
Total Value of Domestic Imports
Total Value of Domestic Exports.
Annual Growth of G.D.P. 1956-1962
Capital Inflows and Outflows due to
Direct Foreign Investments, 1956-1967
Companies in which Government has
Participation as of 1972.
Companies ln wnicn Government Equity is deld
by the Industrial Development Corporation(IDC),
1972.
5.4 Principal Cnanges in Government Holdings
in Industrial and Commercial Enterprises
since 1972, 1978
•
APPENDIX & BIBLIOGRAPHY
I.2.
3.
4.
5 .
6.
7 •
8 .
9.
10.
II.
12.13.
14.
15.
16.
17.
18.
19.
20.
2l.
22.
23.
24.
AMOCO
APIP
B.P.BWI.
FERTRIN
FLACSO
GDPILDIS
1SCOTT
LPG
MNC
NPMCOLADE
OPEC
OWTU'PCOL
PNM
TEXTRIN
TLL
TOCTRINGEN
TRINMAR
TRINTES
TRINTOC
- 127 -
APPENDIX 1
ABBREVIATIONS
American Oil Company
Aid to Pioneer Industries Programme
British Petroleum Oil CompanyBritish West Indies
Fertilizers of Trinidad and Tobago
Facultad Latinoamericana de Ciencias
Sociales
Gross Domestic Product
Instituto Latinoamericano de Investigacio
nes Sociales
Iron and Steel Company of Trinidad and
TobagoLiquified Petroleum Gas
Multinational Corporation
National Petroleum Marketing CompanyOrganizacion Latinoamericana de Energia.
Organization of Petroleum Exporting
Countries
Oilfield Workers' Trade Union
Premier Consolidated Oilfield LimitedPeoples' National Movement;
Texaco Trinidad Limited
Trinidad Leaseholds Limited
Trinidad Oil Company
Trinidad Nitrogen
Trinidad Northern Areas
Trinidad Tesoro Oil Company
Trinidad and Tobago Oil Company
25.
26.
T &TEC
TWA
- t 28 -
Trinidad and Tobago Electricity Commission
Trinidad Workingmen's Association
APPENDIX 2
17.
18.
Dynadrill
Eastman Whipstock
- 129 -
Dynadrill ing
Directional
Foreign Non-Resident
Drilling
19. Eccles Engineering Plant Cons.
20. Edeco21. Four Square Ser. Co. Well Serv.
22. Genfab Cons. Ltd Pipeline Cons.
23. Gaffney, Cline &Assoc. Consultants
24. Halliburton, T'dad Cementing, etc.
25. Henderson Oil Tool
Foreign
Local
Foreign
Local
n.k.
n.k.
Foreign
Resident
Resident
n.k.
n.k.
Resident
26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
Co. Ltd.
Hydrocarb
Ingram Contractors
International Oil
field. Services
Iere Contractors
Laurence Allisoon
&Associates
Lor Irrternati.ona.l
Mason-Hing Asso
ciates
McDennot West
Indies Co.
Mc CUllougn Servo
Magcobar
McClear Oilfield
&General Con
tractors
NL Industries,
Baroid Div.
Well Repairs
Gravel Packing
Offshore Cons.
Power Tonga Se.r
vices
Engineering
Inspection
Directional
Drilling
Engineering Con
sultants
Offshore Cons.
Logging, Perfor
ating
Mud Sercies
Mud Engineering
Services
n.k.
Eoreign
Foreign
n.k.
Foreign
Local
Foreign
n.k.
n.k.
Local
Foreign
Resident
Resident
Non-Resident
Resident
Non-Resident
Resident
Non-Resident
n.k.
n.k.
Resident
Non-Resident
38. Oceanic Contractors
39. Oceanic Del Sud
40. Offshore Ligistics
Caribbean
41. Oilwell Contractors
42. Petroleum Offshore
Services Ltd.
43. Petros Services
44. Rcprostat Ltd.
45. Reliable Con
tracting Co.
46. Santa Fe Drilling
47. Schlumberger
48.' Seismograph Ser
vices Co.
49. Sercies Dowell
Scblwnberger
so. Skinner Marine
51. Solus Schall
52. . Santana Services
- 130 -
Offsnore Constr.
Offshore Platform
Transportation
Workboat Cnarter
Well Repairs
Workover Rig
Well Services
Map & Log
Reproduction
Drilling
Well-logging
Services.
Velocity
Surveys
Cementing, gravel
packing, logging,
perforating
Drilling (Maina)
Engineering
Inspection
Dri 11 ing Rigs,
Workovers
Foreign Non-Resident
Foreign ~on-Resident
Foreign Non-Resident
n.k. n.K.
n, k. Resident
n.k. Resident
Local
Foreign ~on-Resident
Forei~n Nrnl-Resident
Foreign I~n-Resident
Foreing Resident
Local Resident
Foreign Non-Resident
53.
54.
55.
56.57.
Southern Drilling
Contractors
Tidewater
T"dad Oilwell
Services
Terra Mar
Tidex
Drill ing and We11
Services
Workboat Charter
Underreaming,
Cementing, Wireless
Services, Gravel
Packing
Well Services
Contract Labour
Local
Foreig~
Local
n.k.
Foreign
Resident
Non-Resident
Resident
Non- Resident
- 131 -
58. T'dad Well ContrQl Directional n.k. Resident
Drilling
59. Trinpet Services Underreaming n.k. n.k.
60. Trincan Perforators Logging Perfor- n.k. n.k.
ating
61- Trinity Well Ser- n.k. n.k.
vices
62. Trinidad Lease Drilling and
Operators Well Services n.k. n.k.
63. Venice Boat Vorp. Workboat Charter n.k. n.k.
64. Venwell Int. Mud Services n.k. n.k.
65. Well Services Well Repairs n.k. n.k.
Drilling, Rigs
66. Welex Logging, Perfor-
ating Services n.k , n.k.
67. Water &Oilwell
Service n.k. Resident
NOTES:
1. There is no guarantee that tnis listing is 'comprenensive'.It is based on information available wnich may not necessary be complete. (See Sources). Furtner, it only refersto tnose contractors whose activity is related most, uirectly to the ~usiness of oil production. Tnere are severalnundred contractors of a general nature employed by theoil companies engaged in activities from catering toiardening to helicopter transport. These are not of concernto us nere in this study.
2. Functions identified are those wn1cn the data availablesuggest as some (at least) of tne functions performed.Many of tnese companies in fact provide awide variety ofservices. Tne specification of functions ~rovided by tnecompanies in tne regis tration wi tn tile Regis t r a r - Generaltend to be very broad and very general ~ in order, no doubt,to permit tne companies flexibility in wnat tney are li~
censed to do.
3. There are problems in identifying wnicn companies are trulylocal. I t is Known from otner information t ua t many ofthe companies listing themselves as local-private in tne
- 132 -
Re5istrar-General's Files are in fact for all practicalpurpose~, really foreign. Hence companies have Deen designated local only wrien from otner information this canbe confirmed.
4. Tnis listing of contractors relates only to triose wno ~er
form specialized services related to tne core as~ects ofthe ~etroleum business. There are hundreds of contractorsof all sorts WhO obtain business witn tne oil com~anies
engaged in everytning from grass-cutting to catering.
Foreign Companies
Local Companies
Nationality Unknown
TOTAL
25
12
30
67
SOURCES: Company data; Registrar General's Files; CentralStatistical Office, Register of Business Establishments in Trevor Farrell. A tale of Twolssued:~ationalization, The Transfer of Tecnnology and triePetroleum Multinationals in Trinidad and TobagoMonograph. U.W.I. Trinida. 1979.
- 133 -
APPBI-JDIX 3
THE PETROLEUM INDUSTRY - A DISAGGREGATION
BY FUNCTION AND AREAS OF SPECIALIZATION
1. Exploration
Geology - Photogeology
Geophysics - Geochemistry
Seismology
Stratigraphy
Paleantology
Palynology
Hydrodynamics
Gravimetry and Magnetometry
Well Logging
Sedimentary Petrography
Meteorology
Materials Supply
Drawing
Surveying
2. Production
Drilling
Reservoir Engineering
Gathering and Storage
Pipelining
~ Tank Farm Management
Marine
Gas Engineering
3. Refining and Petrochemicals
Processing, running of precess plants
Storage, handling and transportationUtilities
Materials, Equipment and Services
Laboratory
- 134 -
4. Storage
5. Transportation
- Marine
- Pipeline
- Road
6. Projects and Construction
7. Marketing and Distribution
- Local
- Regional
- International
8. Reserach and Development
9. Information and Data Processing
10. Ancillary
Utilities - Electricity generation, Water Steam
- Telecommunications
Maintenance, Macnine shops, other wor~snops
- General Engineering
11. Finance and Accounting
12. Economics and Planning
13. General Administration
- General Management
- Personnel
- Training
- Clerical, etc.
14. Legal
- 135 -
15. Purchasing
16. Public Relations
SOURCE: Trevor Farrell: A Tale of Two Issues ~ationalization,
the transfer of Tecnnology and the Petroleum MUlti
nationals in Trinidad and Tobago. Monogra~n U.W.I.
Trinidad. 1979.
- , 36 -
APPEr-IDIX 4
Projects being consiaered or explored in line witn
Government's planned ~rogramme of securing meaninful partici
pation in apex industries in Trinidad and TODago.
1.
2.
3.
4.
5 .
6.
7 .
8.
9.
A Participation in Texaco (Trinidad) Inc., as well
as tne acquisition of all Texaco distribution
outlets.
A participation witn W. R. Grace and_CompallY in
Federation Cnemicals.
A joint venture with Texaco to produce certain
petrochemicals.
A company to produce steel
An inter-governmental company to ~roduce aluminum.
An inter-governmental company to ~roduce corn and
soya been.
An inter-governmental food corporation.
. An inter-governmental snipping corporation.
Joint-venture with Amoco, Kaiser, Beker and Tenneco
to produce fertiliser.
In addition, discussions were underway witn United
States and Japanese based firms to produce petrocnemicals, motor
car parts, processed food and animal feed based Oll petroleumand molasses.
- 136 -
SOURCE: White Pape~ No.2 on Public Sector Participation inIndustry. Government of Trinidad and TObago. 1978.
- 137 -
APPE1-JDIX 5
The statement of Government policy towards private
foreign inves~ment given in toe 1972 budget speecri stress toat
altriougn toere would be continued invitation of private foreign
capital, greater control over tne country's national resources
must reside in tne country.
I .
2 .
3.
4 .
5 .
6 .
7 •
We welcome new foreign investment whico burgs ln
expertise, new tecrinology and accessto export
markets to assist and supplement national efforts
in our development.
No new 100 percent foreign-owned enter~rises will
be allowed in key sectors of tne economy and national
participation in joint ventures involving new
foreign firms must be of meaningful participation.
Alienation of land will not be permitted.
Existing foreign-owned enterprises~ust take steps
to facilitate national participation,including in
particular worker-participation.
Certain areas of our economy are reserved exclusively
for national effort.
All firms, wnatever tne structure of tneir owner
snip, must in their operations give ample opportu
nity to transfer to nationals tne SKills, ~nowledge
and expertise required to run tne business.
Government will take a leading part, including tne
use of direct participation, to expedite national
control and ownership.
- 138 -
An integral part of our overall policy towaras
foreign investment is to diversify the sources of investment
funds and in particular, to seek the participation in our
national development of European and Japanese cavital and
entrepreneurship, an addition to capital from tne traditional
sources such as the United Kingdom, tne United States of
America and Canada". Current policy in this regard seeks to
further diversify the sources of investment~ capital
SOURCE: White Paper No. 1 on Public Sector Participation in
Industry Government of Trinidad and Tobago. 1972.
--'--
GRAIG,
CAMACHO,
FARRELL,
--'--
--'-'- ,
FAJNZYLBER,
GIRVM·J,
--'--
GONICK,
GUNDER,
- 139 -
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--'--
LEWIS,
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•
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--'---
SILVA
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- 142 -
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- 143 -
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