However, the company booked a reduced net loss of TT$533 million ($79.6 million) in the 2016 fiscal year compared to a loss of TT$819 million in 2015, according to local media reports. Petrotrin attributed the improvements to a TT$500 million cut to its operating expenses for the year.
The state-run company continues to be plagued by declining oil output from its flagship Trinmar offshore fields, despite efforts by the energy ministry to improve oil production.
