Oban deal renegotiated

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Minister of Labour, Senator Dion Foulkes.

The government is in the process of revising the $5.5 billion Oban Energies deal, according to Minister of Labour Dion Foulkes.

The announcement came yesterday during his communication in the Upper Chamber.

Foulkes sits on the board, appointed by Prime Minister Dr. Hubert Minnis, to review the controversial agreement.

While Foulkes could not give an exact time as to when the revisions will occur, he said, in a matter of weeks the committee’s recommendations will be made public.

He said he believes that the amendments to the heads of agreement will be in the best interest of the Bahamian people.

The government faced serious backlash and questioning over the deal set to bring an oil refinery and storage unit to East Grand Bahama, after the project’s chief promoter, Peter Krieger, confirmed his involvement in two lawsuits alleging misuse of investor financing.

It was also revealed that Krieger forged Oban Energies President Satpal Dhunna’s name in his signing of the original agreement.

Local activists have also called for greater transparency on the project, after no environmental impact assessment was carried out prior to the agreement being signed in February.

Officials have also remained tight-lipped on the reported file that went missing from the Bahamas Environment Science and Technology (BEST) Commission offices back in April.

It also remains unknown whether it was a deliberate act or if it affects the deal at this point.