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

- - >. '-~"':-"'_"0."'~3~~"~~"'''' .. ~ L-. ' !, .1:: .2, ..• \}; ,',<to

, :~. ':- . r-,~~O

~

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...~~,.__,__-----,.i

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 -

S~LECTbD BIBLIOGRAPHY

Lloyd. "Outlines of a Model of Pure PlantationEconomy" in SESe Vol. 17 No.3. Jamaica.Mar-Dec.1968.

and Kari LEVVIT. "Character of Caribben Economy"in George Beckfort (ed). CarioDean bconomy SESeJamaica, 1975.

Susan. Notes on Sociological Aspects of the Crisisof Succession in Trinidad and Tobago in "Ideas andIssues in Contemporary Affairs". Department ofGovernment. UWI. Jamaica ed. J. b.Greene, 1974.

Daniel (comp.). Detates Sobre 1a Teorfa de 1a De­pendencia. La Sociologia Latinoamericana.

Tevor. "The Multinational Corporations, the Petro­leum Industry and Economic Uncierdeve10pment inTrinidad and Tobago. Unpubl. PH.d Tnesis, CornellUniversity, 1974.

"A Tale of Two Issues: Nat i ona Li.z.at i on , t ne Trans­fe r of Tecnnology, and tne Pet roleum 1'-1u1 tina tiona1sin Trinidad and Tobago". Mimeograph, Trinidad,1979.

"In Whose Interest?" Nationalizationand Ba r ga i.n i ngwith the Petroleum Multinationals. Tne Trinidadand Tobago Experience. Mimeograp.n. Trinidad.

Fernando y Martinez Terrago Trinidad. Las EmpresasTransnacionales. Expansi6n a Nivel Mundial y Pro­yecci6n en la Industria Mexicana. Fondo de Cultu­ra Economica. Mexico, 1976.

No r man e t . al. "Readings in tne Pol it ical Economyof the Caribbean. New World Publication. Jamaica,1971.

"Multinational CoriJorations and uependent Under­development in Mineral-Export Economies in SES".Vol. 19 No.4. Jamaica, December 1~70.

Gy. "Metropole tlinterland Themes" in CanadianDimension. Vol. 8, No.6. March-April, 1972.

Frank A. "Sociology of Development and Under­development of Sociology in Latin America. Under­development or Revolution. Article ~rintect forthe Faculty of Social Sciences UWI, Trinidad (w.d.).

JACOBS,

JOHJ~SON ,

--'--

LEWIS,

LEWIS,

MARCIAL,

MICHALET,

MC I l'1TY RE ,

MOSQUERA,

PARRIS,

POST,

- 140

R., "Butler vs. tne King." Key CariDbean Publi­cations. Trinidad, 1976.

Howard. "The Politicial Uses of Commissions ofEnquiry: Tne Imperial-Colonial West Indies Context.The Foster and Moyne Commissions in SES. Vol. 27,No.3. Jamaica, Sept. 1978. ---

"Oil, Imperial Policy and tne Trinidad n i s t uro ance s1937 in Contemporary Sociolo&ical Reader (fortn­coming) ed. Susan Craig. UWI. Trinidad.

Arthur. "Laoo ur in the West Indies. 'I'n e b i r t n ofa Workers No ve me n t!". A New Beacon Publication.Trinidad, 1977.

Vaugnn. "Comment on Multinational Corporations andDependent Underdevelopment in Mineral-Export tco­nomies SES. Vol. 19, No.4. Jamaica, Decemoer, 1~70.

Rubio Correa. OPEP. "Imperialismo y el TercerMundo. "Centro de Estudios y Promocion ael Desarro­110 . " Lima, 1976.

Charles Albert. Le Capitalisme Mondiale PressesUniversitarie de France, 1976.

A. and B. WATSON. "Studies in Foreign Investmentin the Commonwealth, No.1. Trinidad and TooagoISER UWI. Trinidad, 1970.

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Carl D. "Capital or Labour? "Tne Decision t o In­troduce tne Industrial Stabilization Act in Trinidadand Tobago, March 1965. Working Paper No. 11 ISER.Jamaica, 1976. ---

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RYAN, Selwyn.Tobago ll

•

"Race and Nationalism in Trinidad andISER, UWI. Trinidad, 1~74.

--'---

SILVA

"Tne Politics of Successionll• A Study of Parties

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L., Ivan. "Es t r a t e g i a de Desarollo. J~acionaliza­

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SANDOVAL-MORENO, J.F.DependentEcuador.Sussex.

- 141 -

Commodities, International Trade andEconomic Growth: Bananas and Oil inM. Pail. Dissertation. University of

September, 1977.

SIf'1Gti, Kelvin. "Economy and Polity in Triniaad 1917­1938. Unvubl. Pn.d. Tnesis, 1974. UWI. Trinidad.

ST.CYR Eric. "Tae Crisis of Succession in Trinidad andTobago". Some Factual Economic Background tothe Current Crisis in "Ideas and Issues in Contem­po r a r y Affairs", De pa r t ment of Government Ui'H.Jamaica ed. J. E. Greene, 1974.

SUDAMA, Trevor. "Tne Model of tne Plantation iconomy. TfieCase of Trinidad and Tobago." Monograpn.

SUNKEL, Osvaldo. "Transnational Capitalism and NationalDisintegration in America" in SESe Vol 2L 1~0. 1,Jamaica, Marcha, 1973.

TENNASSEE, Paul Nehru. "Venezuela. Los Obreros Petroleros yla Lucha por la Democracia". EFI Publicationes.Caracas, 1979.

WILLIAMS, Eric. "History of the People of Trinidad and Tobago".Andre Deutsca, 1964. London.

--'-- "Capi tal ism and Slavery". London. Andre Deu t s cn ,1975.

- 142 -

PUBLICATI01'JS

INSTITUTO Latinoamericano de Planificaci6n Econ6mica y SocialBoletfn de Planificaci6n 8-9, Sept. 1979. Ano 3.

CENTRAL Statistical Office. Annual Statistical Digest1976/77. No. 24. Government of Trinidad andTobago.

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CONVENTION Report on "Best Uses of Our Petroleum Resources"Vol. 1, held January 13-15, 1975, sponsored by theGovernment of Trinidad and Tobago.

DUN'S

MINISTRY

MINISTRY

Review: May 1975, Tne Financier. Sept. 7, 1~79.

of Petroleum and Mines: Monthly Bulletin on tnePetroleum Industry in Trinidad and Tobago. Variousissues.

of Petroleum and Mines: Official documents on ttleOil Industry in Trinidad and Tobago.

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A Review of the Pe­Government of Trinidad

NACLA:

NATIONAL

Latin America and Empire Re~ort. Oil in t~e Carib­bean Focus on Trinidad. Vol X No.8. October 1976.

Advisory Council of Trinidad and Tobago. AnnualReport for tne Year 1977.

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In defence of our members and the People of Trinago

- 143 -

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Commission of En4uiry into Texaco Trinidad Inc.Memorandum (w.d.)

Official Documents on the Oil Industry in Trinidadand Tobago.

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THE ENERGY Crisis 1973-1974. Four addresses by Dr. Ric WilliamsPrime Minister of Trinidad and Tobago.

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