Port of Spain a shopping and business centre for much of the country. Most government offices are also located in the city and many important government services can only be accessed in the Ministry offices located downtown. Within recent years, local banks headquartered here have helped it become a financial centre for the Caribbean and Central America region. Two of the largest banks in the Caribbean, Republic Bank, Trinidad and Tobago Limited and Royal Bank of Trinidad and Tobago (RBTT, reacquired by the Royal Bank in 2008) are headquartered here or base their Caribbean operations in the city. Trinidad's economy is based on
Port of Spain natural gas and oil. No heavy industrial sites are located in Port of Spain, but a major oil refinery and many petrochemical and iron and steel plants exist or are planned for sites south of it and closer to Trinidad's second city of San Fernando. However, the oil and gas majors and some service companies have located their headquarters in the city to be in close proximity to government services, infrastructure and the high quality of life many citizens of Port of Spain enjoy. Some of the oil and gas company headquarters located in Port of Spain (many others are