Trinidad and Tobago NGL Limited (‘TTNGL’/’the Company’) recorded an after-tax profit of TT$83.6 million for the first six months of 2021. This represents a 476% improvement over the comparative period in 2020, when TT$14.5 million was recorded. Correspondingly, earnings per share for the half year were TT$0.54, compared to TT$0.09 for the same period in 2020. The improved performance for the first six months of the year was due to higher profitability from TTNGL’s investment in Phoenix Park Gas Processors Limited (‘PPGPL’). This enhanced performance of PPGPL continued to be driven primarily by higher Mont Belvieu natural gas liquids (‘NGLs’) prices, which were 103.8% above the 2020 period as markets continue their recovery from the impacts of the COVID-19 pandemic. Advances have also been made in furthering the product trading strategy, thus achieving a significant economic return for the period.

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