Government is of the view that there is need to review the royalties paid by energy companies operating in this country.
Minister of Energy and Energy Industries, Franklin Khan, says the state, through generous concessions has been deprived of substantial revenues from the oil and gas sector.
He said the return to government over the period 2014 to 2017 vividly illustrates this situation, adding that revenue received has fallen drastically.
Minister Khan made the comments while delivering the feature address at the Annual Energy Conference and Trade Show held at the Hyatt Regency in Port of Spain today.
Mr. Khan said the time has come for the state to revisit its economic rent for the exploitation of its hydrocarbon resources on behalf of citizens.