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Kaieteur News
Thursday April 30, 2015
Agreement clears way for oil exploration off Barbados Daily Nation Government has signed two licences with BHP Billiton, clearing the way for the Australian oil giant to explore for oil and gas offshore Barbados. Prime Minister Freundel Stuart and BHP Billiton Petroleum vice president, exploration, Dr Niall McCormack signed the agreements yesterday morning during a ceremony at Government Headquarters, Bay Street. Stuart said this latest step would “send a clear message to the industry that Barbados is opening for business and is serious about the development of its offshore petroleum sector”. He added that Barbadians “stand to reap early benefits on executive of the licences through the negotiated provisions for annual training, scholarships, local content, coastal and marine environment research and the acquisition of critical
Freundel Stuart
equipment and software”. BHP Billiton’s licences are for the Carlise Bay and Bimshire blocks, which are located approximately 40 kilometres south east of Barbados. They cover 5 000 square kilometres and are located in waters ranging from 1 200 to 2 000 meters deep. McCormack said based on what his organisation knew about the geological
trend in the area “we are optimistic about our chances of discovering hydrocarbons within these blocks”. Now that it has been licensed, BHP Billiton has to get Government’s approval of an environmental impact assessment and environmental plan to start the first phase of its work, which is a 2D seismic survey on the two exploration blocks.
Venezuela cuts working hours to tackle energy crisis CARACAS, Venezuela (AP) — Venezuelan government workers are getting a few extra hours off each day as officials try to save on electricity. Starting immediately, government offices will stay open only six hours a day, closing early at 1 p.m., Electric Energy Minister Jesse Chacon said. Earlier this week, Chacon said the country saw a sudden jump in power
usage over the last week because high temperatures led to greater use of air conditioning. Many key sectors are exempt from the cutback, including schools, clinics, the oil industry and security forces, he said. Officials said they’ll also increase inspections of hotels and shopping centers to ensure their compliance with mandatory reductions. It’s unclear how long the
emergency measures would last. A lack of infrastructure investment and surging demand driven by some of the world’s lowest tariffs has been battering Venezuela’s electricity sector for years. The socialist country suffered major blackouts in 2012 and 2013. The administration blamed the power outages on sabotage, while opponents said they were the result of government incompetence.
Bachelet asked Congress to fasttrack measures to fight corruption SANTIAGO, Chile (AP) — President Michelle Bachelet is endorsing anticorruption measures and launching a dialogue for a new constitution after a series of recent scandals. Bachelet asked Congress to fast-track the measures to fight corruption yesterday after announcing that businesses will no longer be able to contribute to political parties, which will now be financed by the government. “This not only prevents conflicts of interest but also establishes harsher penalties,” Bachelet said. The measure, she said, is “important to help end bad practices of clientelism and influence peddling while it allows a larger oversight than what has been carried out by previous authorities.” Chile’s
Michelle Bachelet
corruption is among the lowest in South America. But trust in politicians and the business elite has been eroded after a bank loan scandal involving Bachelet’s son and a campaign financing scandal involving
right-wing politicians and a prominent financial company. Bachelet won the presidency last year promising to fight against Chile’s inequalities and the flap involving her family has taken a toll on her image.