• Latest
Venezuela to Assist Oil and Gas Sector Development

Grenada Approves Big Incentives for Oil Explorers

5 years ago
Dr Alvis: Holding space for healing in OECS

Dr Alvis: Holding space for healing in OECS

3 hours ago
Inspired by trip home to Grenada

Inspired by trip home to Grenada

3 hours ago

First Cabinet meeting of Hon. Dickon Mitchell 11 July 2022

3 hours ago
NDC signals a fresh start

PM Hon. Dickon Mitchell to attend 43rd Caricom Heads meeting in Suriname

20 hours ago
Docked salaries of teachers to be repaid

Docked salaries of teachers to be repaid

2 days ago

Cabinet of Ministers as of 30 June 2022

2 days ago
Auto Draft

8th Chinese Bridge Competition

2 days ago
28 & 29 August RGPF Live Ammunition Training

Live ammunition training 2 July 2022

2 days ago
International Day of Co-operatives 2 July

International Day of Co-operatives 2 July

2 days ago
Traffic Notice: River Road limited access

Traffic Advisory: Oil Spill, vicinity of “1910”

2 days ago
NDC announces 7 candidates

PM Dickon Mitchell’s first overseas trip is to 43rd Caricom Heads meeting

2 days ago
Buy more shares in GRENLEC

New majority shareholder for Grenlec priority

2 days ago
NOW Grenada
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us
No Result
View All Result
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us
No Result
View All Result
NOW Grenada
No Result
View All Result

Grenada Approves Big Incentives for Oil Explorers

This story was posted 5 years ago
14 June 2017
in Business, Environment, Law
2 min. read
Share

Parliament has passed the Hydrocarbon Exploration Incentives Bill 2017, containing a package of incentives for oil and gas exploration.

Leader of Government Business, Hon Gregory Bowen, who brought the bill before the House says the plan is to determine the existence of natural deposits of oil and gas as well as the quality, and quantity.

“You bring in the rake, you bring in all the equipment; you utilise, but you take it out at the end of the day and the rake has to go back. Should the person pay customs duties?” questioned Bowen, who is also the country’s Works Minister.

“We are saying no.”

Bowen said investors who also have to bring in vehicles for work purposes “will get duty concessions” a maximum of 6 vehicles.

“If you want to bring in vehicles on the island because you want to take people out and you want to take goods and services from here ….you want to buy products from the firms in Grenada to drop it back on the pier for a boat to take it to the rig, we say a maximum of 6 vehicles you will get duty concessions on.”

The government will be advocating for locals to be employed on the rig for the period of exploration.

Economic Development Minister, Hon Oliver Joseph threw his full support behind the bill.

“The good thing about the Bill is that it’s there for everyone to see,” said Bowen.

“It’s not the investors going and meet with Minister Bowen and working out a deal, it’s there in law. All other companies want to come to Grenada to explore, they will know what is there… clear and simple in legislation. And this is the kind of approach I like and that is what I like about this government, being transparent and open.”

GIS

Loader Loading...
EAD Logo Taking too long?

Reload Reload document
| Open Open in new tab

Download [267.54 KB]

NOW Grenada is not responsible for the opinions, statements or media content presented by contributors. In case of abuse, click here to report.
Tags: duty concessioneconomic developmentemploymentexplorationgasgregory bowenhydrocarbon exploration incentive billincentivenatural depositsoiloliver josephparliament
Next Post
Grenadian Entrepreneur Creates Mobile App SENSI

Grenadian Entrepreneur Creates Mobile App SENSI

Comments 1

  1. admunro says:
    5 years ago

    OK, lets back track.. You sign a contract with a known contractor for exploring the existance of hydrocarbons. You have said contractor standing by with his sub-contractors and staff ready to commence operation and then you pass this “Hydrocarbon Exploration Incentitive Bill 2017. Question.. Are these incentives the demanded of this contractor as part of the deal, or are these Government dictating terms?

    Its a known fact in certain quarters that we’ve been here before. Same administration and same named contractor. coinsidence one ask!!!,

    With the jobs issue, it sounds good, “employment”, box ticked… how many Grenadians have the skills to operate on an oil exploration vessel or platform?. This isnt construction..

    Reply

Comment on post Cancel reply

Please enter your valid email address.
Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

© NOW Grenada. All Rights Reserved. Published by Aqua Design Inc. | Terms of Use | Privacy Policy

No Result
View All Result
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us

Copyright NOW Grenada

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in settings. Visit our Privacy Policy | Terms of Use.

Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Visit our Privacy Policy | Terms of Use.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.