NPC, BNOC to merge
TWO MORE STATE-OWNED enterprises are to be merged as Government seeks to streamline the costs of running these entities.
The National Petroleum Corporation (NPC) and the Barbados National Oil Company Limited (BNOCL) will become one organisation. No details on the plan were revealed. The NPC owns 25 per cent of the BNOCL.
The decision was outlined yesterday by Prime Minister Freundel Stuart when he introduced the National Petroleum Corporation Amendment Bill in the House of Assembly.
Stuart said the NPC had been forced to “function under crippling revenue circumstances” 36 years after it was established. (GE)
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