NASSAU, BAHAMAS — Opposition to Bahamas Petroleum Company’s (BPC) offshore oil drilling activities continue to mount from within the United States and particularly neighboring Florida, with the commissioners of the city of Coral Gables having approved a resolution urging the Bahamian government to revoke the company’s offshore oil drilling licenses and ban offshore drilling in […]
Tag: Bahamas Petroleum Company
Environmentalists question oil drilling “safety zone”
NASSAU, BAHAMAS — Environmentalists who have been lobbying against exploratory oil drilling in Bahamian waters yesterday called it “distressing” and “concerning” that the government would move to establish the area surrounding Bahamas Petroleum Company’s (BPC) oil well as a safety zone and prohibited area. On Monday, the government tabled the Petroleum (Operation of Facilities) (Safety […]
BPC Perseverance Well #1 established as safety zone from ships and planes
NASSAU, BAHAMAS — The government has tabled new regulations to the Petroleum Act, 2016, that establishes the area around the Bahamas Petroleum Company’s (BPC) exploratory oil well near Andros a safety zone and a prohibited area. The Petroleum (Operation of Facilities) (Safety Zone)(Regulations), 2020, which was made on December 24, 2020, establishes a safety zone […]
BPC chief slams “half-baked” insurance policy allegations
NASSAU, BAHAMAS — Bahamas Petroleum Company (BPC) yesterday again fired back at what it called “a series of half-baked allegations” regarding its insurance policies for its drilling activities, noting that by April The Bahamas will know whether it is an oil-rich nation. BPC CEO Simon Potter said in a statement yesterday: “International and local environmentalist […]
BPC confirms insurance coverage in excess of govt.’s requirement in place
NASSAU, BAHAMAS — Bahamas Petroleum Company (BPC) last night confirmed that it has in place all of the insurance coverage required for its exploratory well. The company said in a statement that in accordance with strict legal requirements and as stipulated by the government of The Bahamas, it has in place all insurances required for […]
Oil explorer “delighted” over PM’s sovereign wealth fund remarks
NASSAU, BAHAMAS — Bahamas Petroleum Company (BPC) has welcomed recent remarks by Prime Minister Dr Hubert Minnis on the establishment of a sovereign wealth fund in The Bahamas, noting that many natural resources in The Bahamas, including its potential oil resource, have the capacity to add an entirely new income stream to the Bahamian government. […]
NGO calls on BPC to “come clean” on unpaid licensing fees
NASSAU, BAHAMAS — Joseph Darville, chairman of Save The Bays (STB), one of two organizations granted leave for judicial review proceedings against Bahamas Petroleum Company’s (BPC) exploratory oil well, yesterday called on the company to “come clean” about its unpaid license fees. “We condemn BPC CEO Simon Potter’s flippant response to the very serious revelation […]
Govt. withdraws request for $200,000 in cost in BPC court matter
NASSAU, BAHAMAS — The government has withdrawn its application for security for costs in the Supreme Court during a hearing for the judicial review of its approvals for Bahamas Petroleum Company (BPC) to drill for oil in The Bahamas. Attorneys for the government submitted, during the hearing before Supreme Court Justice Petra Hanna-Adderley, that the […]
US business leaders call for stop to oil drilling in The Bahamas
NASSAU, BAHAMAS — International opposition to Bahamas Petroleum Company’s (BPC) oil exploration in The Bahamas continues to mount as several US business leaders are now urging the government to put a stop to offshore oil drilling. According to the Our Islands, Our Future organization, having just seen the US federal government ban offshore drilling in […]
Bahamas Petroleum Company refutes claims of lack of funding
NASSAU, BAHAMAS — Bahamas Petroleum Company (BPC) has refuted claims by environmental groups that it lacked sufficient funding to complete its exploratory well at the point of rig mobilization. The company in a statement strongly refuted the claim, asserting that its Perseverance #1 exploratory well has been fully funded. “As a matter of fact, Perseverance […]
Mitchell: PLP govt. would release BPC oil agreement “without question”
NASSAU, BAHAMAS — A Progressive Liberal Party (PLP) government would release the Bahamas Petroleum Company’s (BPC) agreement with the government for oil drilling in The Bahamas, according to PLP Chairman Fred Mitchell. In a recent interview, Mitchell urged the government to be “straight” with the Bahamian people regarding their position on oil drilling. He accused the […]
Bannister: Renegotiating oil deal royalties is in country’s best interest
DPM reiterates BPC deal is “airtight” But PLP chairman says Minnis administration must “man up” on issue NASSAU, BAHAMAS — Deputy Prime Minister and Minister of Public Works Desmond Bannister said renegotiating royalties in the government’s agreement with Bahamas Petroleum Company (BPC) would be in the best interest of the Bahamian people. While appearing as […]
Oil drilling “absolutely against” this nation’s best interest, says climate change expert
NASSAU, BAHAMAS — Oil drilling is “absolutely against” this nation’s best interest as one of the countries most vulnerable to climate change, according to a local climate change expert and researcher. Dr Adelle Thomas, director of the Climate Change Adaptation and Resilience Research Centre at the University of The Bahamas (UB) and a senior researcher […]
BPC: Bahamians to learn in four to six weeks if Bahamas is “oil rich”
NASSAU, BAHAMAS — Bahamas Petroleum Company (BPC) said yesterday that Bahamians will likely learn within four to six weeks whether The Bahamas is an oil-rich nation. Supreme Court Justice Petra Hanna-Weekes yesterday granted applicants leave to seek judicial review of the government’s approvals for BPC to drill an exploratory well in Bahamian waters, ruling that […]
Save The Bays “ecstatic” over oil drilling judicial review
NASSAU, BAHAMAS — Chairman of Save The Bays Joe Darville, one of the environmental groups granted leave for judicial review proceedings of the government’s approvals to Bahamas Petroleum Company (BPC) to drill an exploratory well, said yesterday the organization was “ecstatic” over the judge’s decision. “Recognizing the oil drilling is a matter of vital public […]
GRANTED: Supreme Court grants leave for judicial review of exploratory oil drilling
Test well drilling to continue NASSAU, BAHAMAS — Supreme Court Justice Petra Hanna-Weekes today granted applicants leave to seek judicial review of the government’s approvals for Bahamas Petroleum Company (BPC) to drill an exploratory well in Bahamian waters, ruling that Save The Bays and Waterkeeper Bahamas Limited have “an arguable case”. However, Weekes denied the […]
Smith: BPC has “poked a hole in the belly of mother nature”
NASSAU, BAHAMAS — While making the case that Bahamas Petroleum Company (BPC) should have waited for the outcome of environmentalists’ judicial review application in the Supreme Court before drilling its exploratory oil well, Fred Smith, QC, told the court yesterday that the company has “poked a hole in the belly of mother nature”. However, BPC […]
Govt. argues to keep drilling on course, cites risks to environment and investor confidence
NASSAU, BAHAMAS — Following extensive submissions from counsel on opposing sides, Supreme Court Justice Petra Hanna-Weekes said today she will rule as soon as possible on an application for judicial review of the government’s approval for Bahamas Petroleum Company (BPC) to drill an exploratory well. The drilling exercise for the well, Perseverance #1, is underway some 90 […]