Summary Financial Statements for the Year Ended December 31, 2020

Despite a challenging year, Trinidad and Tobago NGL Limited (TTNGL) recorded an after-tax profit of TT$5.8 million (2019: TT$120.3 million) for the year ended 31 December 2020. This translated into earnings per share of TT$0.04 (2019: TT$0.84).

In 2020, the Covid-19 pandemic posed significant and unforeseen challenges for business globally. Perhaps more than most industries, the energy sector was affected by this phenomenon. Travel restrictions and government-imposed lockdowns, designs to reduce the spread of the virus, had a considerable impact on energy demand. In addition to this, the significantly reduced industry capacity which was due to social distancing requirements and disrupted shipments, resulted in lower demand for oil and other forms of energy.

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