Operating in a domestic space characterized by tight fiscal and balance of payments policies for the next three (3) years, BNOCL is challenged to deliver million of dollars annually in new revenues. Concomitantly, the Commercial division has to protect the value of the Company’s “business as usual” activities.
Against this background, this commercial strategic plan it is anticipated, will guide the Company both in the short and medium terms. Much of the value expected to be generated will be derived from the renewable energy business.
In this presentation, focus will be on the current situation; key issues; objectives; strategies; and action plans.
BNOCL has to be nimble, as the company will lose revenue (especially
with the Brent Oil price below US$60 & 50/barrel).
Business (BE360) 2020 year zero – Startup year- % of Revenue from fix contracts
brought to books, all investment not installed, or in Process, Capital
investment of 4 million on Solar Equipment Lease Business.
service Capacity Building
Equipment Lease Business
Energy Technologies Cash Sales (Solar Panels, Inverters, Energy Storage)
Renewable Energy execution plan must be aggressive in light of the commercial
strategy but more importantly the aggressive Government policy and the limit of
the available projects as the peak demand is only 145/150MW. Therefore, the RE strategy is cognizant of
this focus and has sought to hire the necessary capacity for each of these
OF Cleaner Fuels and Renewable energies in Barbados
The Company has launched its domestic solar programme including packages ranging from 2kW, 3 kW, 5 kW, 10 kW, 15 kW, 20 kW.
BNOCL has installed systems on 50 homes at the end of September 2020.
Current active installations by BNOCL:
275 KW BNOCL (Warehouse &
140 KW at NPC
During the course of 2020, the Company
has installed systems on:
Oistins Berinda Cox Fish Market: 176KW complete
Bridgetown Fish Market 480 Kw completed
Combermere School 50 Kw completed
Harbour Building No. 2 250 KW started
Fairchild Street Market 250 kW Scheduled next
4.15 MW System at BNOCL and NPC Premises, sponsored by the IDB
5 MW planned next to the BNTCL Terminal (2021)
Wholesaling of Panels, racking and peripheral equipment
BNOCL is wholesaling 360 and 250 Watt panels
Over 3 MW in sales made.
Crude Oil – The BNOCL produces crude oil which has an average 24.5 API. Crude Oil is shipped to Petrotrin in Trinidad through a Processing Agreement, where it is refined into products and we acquire the value of the Crude Oil in Fuel Oil.
Natural Gas – The BNOCL produces natural gas which is sold to the National Petroleum Corporation (NPC) (http://npc.com.bb). Barbados has built a pipeline network which enables the delivery of natural gas to commercial, industrial and domestic customers throughout the island, whilst minimising venting. NPC is the state owned entity which owns the pipeline network and has the responsibility for the marketing of the fuel.
Motor Gasoline – The BNOCL imports the country’s requirements for Unleaded Gasoline (95) Octane. BNOC supplies and sells gasoline to the Major Oil Companies in Barbados: SOL Petroleum Ltd. and Rubis West Indies Ltd., through Petroleum Product Supply Agreements. These Majors in turn sell to the retailers. The retail gasoline prices are regulated by Government.
Diesel Oil – The BNOCL also imports the country’s requirement of Diesel which is 45 cetane index (0.5% Sul). Diesel is largely used in the manufacturing, industrial and transportation sectors. It is sold to the two Majors and other large-scale Marketers through Product Supply Agreements. The retail diesel prices are also regulated by Government.
Aviation Fuel – Jet A1 – The BNTCL imports , stores and distributes aviation fuel , jetA1, on behalf of the Major oil companies, SOL, Esso and Chevron. Majority of the Jetfuel imported is transferred to the Joint venture facility at the airport where it is then used to fuel aeroplanes. Additionally, some of it is transferred via pipe line to the adjacent Barbados Light and Power plant where it is used to generate electricity. It is also sold as kerosene at the loading rack where trucks collect it for domestic consumption.
Heavy Fuel Oil – The BNOCL imports Fuel Oil from Petrotrin in Trinidad and Staatsolie in Suriname. The primary market for heavy fuel oil is the electric utility company, Barbados Light and Power. It is also used in asphalt manufacturing and other industrial, commercial and transportation sectors.
Asphalt – The BNOCL imports Fuel Oil for the Asphalt Plant from Staatsolie a company based in Suriname. The company also possesses a 30% equity interest in API. API provides the Asphalt requirements for the island and exports to several Caribbean countries.