Friday, April 12, 2024

Off the market

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The Barbados National Terminal Company Limited (BNTCL) is off the selling block.

Not only has Government taken the petroleum company’s proposed $100 million sale off the table, but it has also returned a deposit of US$10 million to regional oil giant Simpson Oil Limited (SOL).

“The agreement with SOL has been terminated,” Minister of Energy Wilfred Abrahams confirmed to THE NATION in an exclusive interview.

“The time for conclusion of the agreement had expired, and SOL requested their deposit back. The deposit has been returned to SOL, and that’s the end of that,” the minister said.

But Abrahams was unable to say what would be the next move regarding the company. (BA)

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