Offshore Disclaimer PDF Print E-mail

The Government of Barbados wishes to advise that rumors that it has recently signed a Memorandum of Understanding (MOU) and awarded three (3) blocks in Barbados' offshore petroleum acreage are false and misleading.

The legal and regulatory framework for the award of blocks is found in the Offshore Petroleum Act, Chapter 282A of the laws of Barbados ("the Act"). Pursuant to the Act, blocks are awarded through a bid round or direct negotiations and applications for specified blocks are assessed to determine if pre-qualification requirements have been observed and other criteria established by the Government are satisfied. All oil companies that have approached the Government of Barbados and expressed interest in acquiring blocks offshore will be accorded the same courtesy and their expressions of interest processed in the same way.

The Government of Barbados has always conducted negotiations fairly and in a transparent manner and does not intend to change that approach. Fairness, honesty and openness are qualities which the Government embraces and is well known for locally, regionally and internationally. The notion that Government has operated otherwise in the award of offshore blocks is a false, malicious and misleading untruth.


Division of Energy and Telecommunications
Prime Minister’s Office
Government of Barbados
May 29, 2014

 
Overview PDF Print E-mail

Located in the Trinity Business Center in Country Road, St. Michael, the Energy Division was established in 1978, in the Ministry of Trade, on the advice of technical assistance experts from the Overseas Development Administration of the U.K.

A geologist, seconded from the Ministry of Agriculture, was the first full-time employee of the Division which was previously staffed by one part-time employee, the Director of Petroleum and Natural Gas.

Since 1978, the Division has expanded into an organization responsible for oil and gas, alternative energy and energy conservation (having amalgamated with the Energy Conservation Unit). The Division also provides geological and earth science services to other Government departments, as well as to the private sector.

The Division is charged with the mandate of monitoring petroleum price movements; liaising with the CariCom Secretariat and OLADE on regional energy issues; preparing Cabinet Papers, briefs, speeches, position papers and comments on energy, geological and earth science-related matters; so that the functioning of an efficient, reliable sector may be ensured.

The Energy Division is comprised of an Administrative Unit, the Legal & Regulatory Unit, the Natural Resources Department, the Renewable Energy & Energy Conservation Unit and the Research & Planning Unit.

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Offshore Barbados PDF Print E-mail

In 2008, the Government of Barbados officially embarked on a campaign to market its exclusive economic zone for oil and gas exploration & production to qualifying companies across the globe. For information about this programme, click here.

 
Price at the Pump PDF Print E-mail

Current Retail Price Structure

Effective January 2013 (Prices quoted in BDS dollars per litre)

Kerosene:  $1.85 per litre
Diesel:  $2.86 per litre
Gasoline:  $3.15 per litre
Liquified Petroleum Gas (20lb):  $39.85
Liquified Petroleum Gas (25 lb):  $49.63
Liquified Petroleum Gas (100 lb):  $178.12

 

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