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 application to the Supreme Court for cost.
“An interested party who is granted leave to join a judicial review because they would be affected by the result and they want to be heard, the principle is long established that they are entitled to get security for cost,” he said.
The Stena IceMAX drillship. (PHOTO: BPC VIDEO)
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.
Bahamas Petroleum Company‘s exploratory oil well, Perseverance #1, approximately 90 miles from Andros and 270 miles from Nassau.
Lombard Odier, a Swiss private bank, in a brief response to
Eyewitness News’ inquiries, said: “We regret this situation and are taking the necessary actions to address it. This investment decision was not aligned to our commitment to sustainability and our strategic investment framework.”
A Google Maps view of safety zone location Latitude 23°12’ 12.35N
Longitude 079°08’ 14.1 W.
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 500 meters (m) around the facility and prohibits certain activity in that zone.
BPC: “Perseverance #1 a potentially transformational exploration well.” The well is 90 miles from Andros, and approximately 270 miles from Nassau.
The schedule of the regulation identifies the location as “Cooper”, with a Latitude of 23°12′ 12.35N and a Longitude of 079° 08′ 14.1W
BPC confirms insurance coverage in excess of govt s requirement in place – Eye Witness News ewnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ewnews.com Daily Mail and Mail on Sunday newspapers.
Director of the Climate Change Adaptation and Resilience Research Centre at the University of The Bahamas (UB) and Senior Researcher at Climate Analytics Dr Adelle Thomas.
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 at Climate Analytics, a climate science and policy institute, yesterday described climate change as a “national emergency”.
“Some of the actions being taken now, such as moving forward with oil drilling and failing to include climate change as a key component of our COVID-19 recovery plans, are actually increasing our vulnerability to climate change,” she said.