February 28, 2020
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BAHAMAS Petroleum Company announced yesterday that it did not find commercial volumes of oil after drilling a well off Andros.
Environmental campaigners were celebrating this morning after Bahamas Petroleum Corporation announced it has ceased its drilling operations after having failed to find commercial volumes of oil.
The verbal battle between the Bahamas Petroleum Company (BPC) and its opponents intensified yesterday as the oil explorer blasted “half-baked allegations” over its well’s insurance coverage.
The Bahamas Petroleum Company (BPC) yesterday blasted its opponents for “deliberate and gross misrepresentation” over suggestions its exploratory well lacks adequate insurance coverage.
BAHAMAS Petroleum Company has endorsed Prime Minister Dr Hubert Minnis’ recent statements about implementing a Sovereign Wealth Fund, saying such a fund can assist with paying off the national debt or better the lives of Bahamians.
Bahamas Petroleum Company (BPC) yesterday warned against "making mountains out of molehills" after it was revealed the Government had refused to accept its payment of outstanding licence fees.
Bahamas Petroleum Company (BPC) yesterday hailed a Supreme Court verdict that likely removes all obstacles to completion of its first exploratory oil well within the scheduled 45-60 day timeframe.
Oil exploration opponents yesterday sought the Supreme Court's approval to add the Town Planning Committee as a "fourth respondent" in their challenge to Bahamas Petroleum Company's (BPC) drilling.
Bahamas Petroleum Company's (BPC) chief executive is alleging it will incur extra costs of up to $400,000 per day if activists succeed in persuading the Supreme Court to halt its exploratory oil drilling.
The Bahamas Petroleum Company (BPC) is warning that "significant and unnecessary health, safety and environmental risks" will be created if opponents now obtain a court-ordered halt to its oil drilling.
The Bahamas Petroleum Company (BPC) has warned that its "major $100m asset will be extinguished", thereby threatening its survival, if the Supreme Court halts its oil drilling activities.
The attorney general yesterday said the Government could impose a new tax on Bahamas Petroleum Company (BPC) if it declines to renegotiate "abysmally low" royalty rates that are the world's poorest.
BAHAMAS Petroleum Company has begun drilling its exploratory oil well, company officials announced on Monday. According to BPC, the well was ‘spud’ on Sunday December 20 at 06.30 EST and is anticipated to take 45 - 60 days to complete.
Bahamas Petroleum Company's (BPC) oil drilling ship will this morning likely face "a welcoming committee", as one activist charged: "The PM can shut the country down but not get out of a bad oil deal?"
Activists yesterday argued The Bahamas is "paying lip service to the green and blue economy" in response to charges they have exposed their "true agenda" by seeking to block oil exploration.
A Bahamas-based oil explorer yesterday said it will "pay double the royalties that the law provides for" to the Government should it strike success when exploratory drilling starts in less than a month.
The Bahamas may gain an exploratory oil well Christmas 'present' for 2020, it was confirmed yesterday, as the project's proponents urged environmental activists to give "a fair representation of the facts".
An oil explorer yesterday said its pending merger with another Caribbean-based operator “assures rather than threatens” the delivery of its first well in Bahamian waters by year-end 2020.Simon Potter, Bahamas Petroleum Company’s (BPC) chief executive
An oil explorer yesterday pledged its Uruguay licence success “will not distract” from efforts to drill in Bahamian waters as it remains “absolutely 100 percent focused” on its well obligations to this nation. Simon Potter, the Bahamas Petroleum Comp
A Bahamas-based oil explorer yesterday revealed it was “within three weeks” of drilling its first well until COVID-19 intervened as it unveiled a revised timetable taking its operations into the 2021 first quarter. Simon Potter, Bahamas Petroleum Co
An oil explorer has delayed the drilling of its first well in Bahamian waters until late May/early June to ensure the coronavirus crisis does not cost it “millions of dollars”. Simon Potter, the Bahamas Petroleum Company’s (BPC) chief executive, tol
A Bahamas-based oil explorer yesterday hailed the receipt of all necessary environmental approvals from the government as “a massive milestone” towards drilling its first exploratory well.Simon Potter, pictured, the Bahamas Petroleum Company’s (BPC)