Welcome to the Barbados National Oil Co. Ltd

Monday - friday : 8:00 AM to 7:00 PM

  • our Location

    BNOCL - Woodbourne, St Philip

    BNTCL - Fairy Valley, Christ Church

  • Call Us On

    BNOCL: 246-418-5200
    BNTCL: 246-418-1500

RENEWABLE ENERGY

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.

Current Situation

Our previous world                                 
But now, solar, Wind and other Renewable energy takes some of the focus.





BNOCL has to be nimble, as the company will lose revenue (especially with the Brent Oil price below US$60 & 50/barrel).

Business Assumptions

  • Core Business Revenue Reduction year on year
  • Renewable 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. 
    • Customer service Capacity Building
    • Solar Equipment Lease Business
    • Renewable Energy Technologies Cash Sales (Solar Panels, Inverters, Energy Storage)
    • Resilience Power Solutions (Generators Etc)
    • Agrosolar Cooperative Opportunities

Renewable Execution Plan:

The 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 targets. 

The profit centers identified are:

  1. Domestic solar
  2. Commercial solar
  3. Utility Solar
  4. Wind
  5. Biofuels
    1. Biogas
    1. Biodiesel and ethanol
  6. Utility Storage

TO date:

Wind Study under the IDB Loan https://www.iadb.org/en/project/BA-L1012

DEPLOYMENT OF Cleaner Fuels and Renewable energies in Barbados

Domestic:   

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.

Commercial:

Current active installations by BNOCL:

                   275 KW BNOCL (Warehouse & Main building)

                   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

Utility Projects:

    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.