Trinidad and Tobago Petroleum Act

The Trinidad and Tobago Petroleum Act is a law that regulates the exploration, extraction, and management of oil and natural gas resources in the country. It establishes the legal framework for licensing companies, ensuring responsible development, and distributing revenues from petroleum activities. The act aims to promote fair resource use, environmental protection, and sustainable economic growth, while providing oversight to prevent misuse or mismanagement of valuable hydrocarbon resources. Overall, it ensures that petroleum operations benefit the nation and its citizens ethically and efficiently.