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Outgoing BPC chief hits ‘spurious’ legal analysis of licence

The Bahamas Petroleum Company’s (BPC) outgoing chief executive yesterday blasted as “spurious” a legal analysis arguing that the government is not legally bound to renew the oil explorer’s licences.

Oil explorer: ‘Funds fled’ after activists launched challenge

The Bahamas Petroleum Company (BPC) was forced to seek additional funding for its Perseverance One well after “funds fled away from us” due to the legal challenge launched by environmentalists.

WELL, WELL, WELL - BPC STRIKE OUT: Activists celebrate as drilling finds no viable oil deposits

BAHAMAS Petroleum Company announced yesterday that it did not find commercial volumes of oil after drilling a well off Andros.

BPC ceases drilling as no commercial volumes of oil found

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.

Oil explorer blasts ‘half-baked’ claims

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.

Oil explorer blasts ‘baseless’ claims over its insurance

The Bahamas Petroleum Company (BPC) yesterday blasted its opponents for “deliberate and gross misrepresentation” over suggestions its exploratory well lacks adequate insurance coverage.

Oil drilling company applauds sovereign fund plan

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.

Gov't and BPC 'dispute' outstanding licence fees

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 to know if 'oil rich' within 6 weeks, says BPC

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.

Activists seeking to add Town Planning to oil drilling battle

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.

BPC faces $400k extra daily costs if drilling halted

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.

BPC warns on 'safety' risks if drilling halted

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.

Oil explorer fears its major $100m asset 'extinguished'

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.

AG: New tax for BPC if royalties 'abysmally low'

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.

BPC begins drilling exploratory oil well

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.

'Minnis can shut country but not escape oil deal?'

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?"

Oil drilling shows green economy is 'lip service'

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.

Oil explorer: 'We will pay double required royalties'

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.

Oil explorer targets pre-Christmas well

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".

Oil explorer: Merger 'assures' Bahamian well will be drilled

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

Oil explorer: Uruguay licence 'won't distract' from Bahamas

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

'Three weeks from oil drilling.. then COVID'

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

Virus delay hits oil exploration

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

Environmental nod 'huge milestone' for oil explorer

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)

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