Bayfield Energy, an upstream oil and gas exploration and production company, has agreed with the Trinidad state oil company, Petrotrin, on revisions to the crude oil sales agreement governing the sale of Bayfield's share of production from the Trintes field, offshore Trinidad.
The revisions are the result of developments in crude markets which mean West Texas Intermediate crude, which is a commonly used marker for crude sales in the Caribbean market, is no longer considered by the two parties to be a fair reflection of the market value of Bayfield's crude.
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