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Govt not bound’ to renew BPC licence

The government has full legal authority not to renew Bahamas Petroleum Company’s (BPC) oil exploration licences, a major environmental organisation has told the prime minister.

New BPC chief: ‘It’s our right to extend licence’

The Bahamas Petroleum Company’s (BPC) incoming chief executive yesterday said it was “our right to extend” the company’s four oil exploration licences beyond their end-June 2021 expiration.

BPC dismisses investor’s exit as old news

The Bahamas Petroleum Company (BPC) yesterday dismissed environmental activist joy over an investor’s divestment of an £11.25m stake in the firm as old news.

BPC to ‘relinquish’ 50% of licence area

The soon-to-be-former Bahamas Petroleum Company (BPC) has revealed that it will “relinquish” 50 percent of the area where it was previously allowed to explore for oil as part of its licence renewal bid.

Oil opponents demand ‘permanent drilling ban’

“Ecstatic” oil opponents yesterday urged The Bahamas to “seize the moment” and impose a permanent drilling ban after Bahamas Petroleum Company’s (BPC) first exploratory well came up empty.

Activists: 'Unarguable' BPC needed new EA

Oil exploration opponents yesterday alleged previous statements by Bahamas Petroleum Company (BPC) show it is "unarguable" that new environmental permits were needed for the change in drill ship.

Activists: Oil explorer EIA 'falls far short'

Activists yesterday alleged Bahamas Petroleum Company's (BPC) environmental impact studies "fall far short" of what is required by this nation's laws and could facilitate breaches of international treaties.

Activists not reassured by oil explorer's pledge

Environmental activists yesterday said they were "even more concerned" despite Bahamas Petroleum Company's (BPC) assurance it has sufficient insurance to cover all costs associated with an oil spill.

Oil explorer: We’ve got tourism, fishing covered

A Bahamas-based oil explorer yesterday reassured that the insurance coverage for its first well will cover any tourism or fisheries losses “in the highly unlikely event” of any spill or environmental impact.

Fisherman: 'Risk outweighs rewards' over oil exploration

A prominent fisherman yesterday voiced his opposition to oil exploration near "some of the most critical dive and trap areas on the Bahama Bank", adding: "The risks far outweigh the rewards."

Environmentalists urge reversal of oil explorer's licence extension

Environmentalists yesterday demanded that the Government “rescind” the extension granted to the Bahamas Petroleum Company's (BPC) license to drill for oil in Bahamian waters.

Oil explorer in licence extend over COVID-19

A Bahamas-based oil explorer has voiced optimism that the government will extend its drilling licence beyond year-end despite Florida congressmen lobbying the Trump administration against its plan.

Bahamas investor gives oil explorer $36m war chest

A Bahamas-based investor was yesterday said to have added “another brick in the wall” to a local oil explorer’s financing strategy by taking the funding available for its first well to $36m. Simon Potter, Bahamas Petroleum Company’s (BPC) chief exec

DRILLING ON OFFSHORE PLATFORM IMMINENT

A Bahamas-based oil explorer yesterday said it is “ready to deliver” on a 14 year-old promise after confirming it will drill its first exploratory well in Bahamian waters in April 2020.

Oil explorer aims to open fund to small Bahamians

A Bahamas-based oil explorer and its advisers yesterday said they plan to seek the Securities Commission’s permission to open their newly-launched mutual fund to small local retail investors.The Bahamas Petroleum Company (BPC) disclosed that its £2m

Oil explorer: 'All the tools we will need'

A Bahamas-based oil explorer yesterday said it now has “all the tools we need” to drill an exploratory well within the 2020 year-end target set by the government, its top executive said yesterday.Simon Potter, the Bahamas Petroleum Company’s (BPC) ch

Oil explorer gains near certainty on well funds

An oil explorer yesterday said it has achieved near-certainty over the financing of its first Bahamas exploratory well after its latest $11.4m fund raising raise beat the target by 60 percent.Bahamas Petroleum Company (BPC), in a statement to the mar

Bahamas-based oil explorer sees 4bn barrel upside

A Bahamas-based oil explorer was yesterday forced to deny it plans to raise further equity financing from institutional investors as interest in its 2020 drilling plans continues to ramp up.

Oil explorer in four additional finance offers

A Bahamas-based oil explorer has revealed that some of the four additional financing offers it has received would cover the $20m-$25m costs of its first exploratory well by themselves.Simon Potter, Bahamas Petroleum Company’s (BPC) chief executive, t

Oil explorer in total certainty on $25m well

The Bahamas Petroleum Company’s (BPC) top executive has acknowledged it is now better placed than ever before to deliver a first exploratory well in this nation’s waters by mid-2020.Simon Potter told Tribune Business that shareholder approvals at BPC

Oil explorer’s $2.54m is ‘certainty we’ve craved’

A Bahamas-based oil explorer has cemented “the certainty we’ve been craving” with a $2.54m working capital raise that will underpin all activities leading to the drilling of its first well by 2020.

‘Fresh impetus’ for oil explorer

A Bahamas-based oil explorer’s search for a joint venture partner has been given “fresh impetus” by the Government’s extension of its four licences until end-2020.

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