BHP Billiton, one of the world’s largest mining companies, has moved its North American petroleum accounting and reporting functions to Trinidad and Tobago. The services that will now be carried out in Port of Spain include revenue and joint venture accounting, which were previously managed in Houston.
In addition to already having a presence in the country, the Melbourne, Australia-based extraction giant has said that one of the reasons for the change was the number of high-quality accounting professionals on the island.
“This move clearly demonstrates BHP Billiton’s continued commitment to the country and its confidence in the Trinidad and Tobago talent pool,” stated to the Energy Chamber of Trinidad and Tobago. “The process for BHP was started in 2014 and will continue into mid-2017.”
The chamber added that BHP Billiton’s move represents an important development for Trinidad and Tobago. The nation has been trying to diversify its economy in recent years as commodity prices have fallen, and public officials have been eager to attract more business in the finance and accounting arena.
“The move fits in with the thrust of the Trinidad and Tobago International Financial Centre (TTIFC), which is to be a leading destination for financial services as one way to contribute to the diversification of the economy,” according to the Energy Chamber of Trinidad and Tobago.
Photo credit: BHP Billiton