REVENUES at Edinburgh-based oil and gas company Trinity Exploration & Production, which operates in Trinidad and Tobago, fell by 42 per cent in the first half of 2016, down from $27.8 million in the first half of 2015 to $16.1m.

This was largely as a result of net production falling from 3,085 barrels a day to 2,659 barrels a day while the average price per barrel fell from $50 to $32.80.

Having reduced administrative costs from $5.7m to $1.8m and operational costs from $12m to $8.7m over the same period, the company’s loss reduced marginally, from $1.3m to $1m.