BARBADOS: No news yet

2019, March 1: To date, there has been no official statement from the Barbados National Oil Company Ltd.(BNOCL) as to where Barbados will ship its crude oil and from which market it will obtain its refined products. With the recent closure of the Petrotrin oil refinery in Trinidad and Tobago (on November 30), Barbados now has to make new arrangements to replace that which existed for decades.

Oil/Chemical tanker anchored near Bridgetown – May 24, 2020

In that arrangement, Petrotrin received Barbados crude. And, in a barter agreement, supplied Barbados with its needs.

Barbados was exporting, annually, about 260,000 barrels of crude oil to Petrotrin. In return, it was importing, monthly, about 60,000 barrels of gasoline from Petrotrin. The country has storage capacity for 80,000 barrels of gasoline. Diesel and fuel oil are obtained from sources outside the Caribbean. Kerosene for jet fuel is imported by private dealerships.

Discussions to develop a similar arrangement as existed with Petrotrin with a number of suppliers have started but no formal announcement about a partnership has yet been made. []