NASSAU, BAHAMAS — Environment and Housing Minister Romauld Ferreira said yesterday that the government’s decision to follow through with its contractual obligations to allow Bahamas Petroleum Company (BPC) to explore for oil is “water under the bridge now”. Speaking in Parliament yesterday, Ferreira noted that Bahamians must and will decide the direction to be taken […]
NASSAU, BAHAMAS — Environmentalists yesterday called for a full moratorium on oil drilling in this nation after Bahamas Petroleum Company (BPC) revealed that it has abandoned its exploratory drilling after having not found any commercial quantities. Casuarina McKinney-Lambert, Bahamas Reef Environment Educational Foundation (BREEF) executive director, told Eyewitness News that the announcement was a “breath […]
NASSAU, BAHAMAS — Hopes of finding commercial quantities of oil in The Bahamas have been dashed with Bahamas Petroleum Company (BPC) announcing that it has abandoned its exploratory drilling after its well came up largely dry. The company’s stock took a nearly 70 percent hit as a result of the long-awaited announcement. BPC has been […]
BPC seeking $200,000 security for exploratory oil judicial review NASSAU, BAHAMAS — Attorney General Carl Bethel said while he expected Bahamas Petroleum Company (BPC) to seek security for cost in an ongoing judicial review proceeding concerning approval to drill an exploratory oil well, the government will not go back on its decision to withdraw its […]
NASSAU, BAHAMAS — Bahamas Petroleum Company (BPC) has made an application to the Supreme Court seeking security for costs in the sum of $200,000 in light of the legal action launch by local environmental groups Waterkeepers Bahamas Limited and the Coalition to Protect Clifton Bay. Last month, Supreme Court Justice Petra Hanna Adderley ruled that […]
NASSAU, BAHAMAS — As Bahamas Petroleum Company (BPC) continues to face strong opposition from local and US environmental groups, one of its financiers is now expressing “regret” over involvement in facilitating funding for the company’s offshore oil exploration activities. Lombard Odier, a Swiss private bank, in a brief response to Eyewitness News’ inquiries, said: “We regret […]
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 […]
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 […]
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 […]
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 […]
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 […]
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. […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
