History of BNECL

Barbados National Oil Company Limited (BNOCL)

Formed in 1983, the Barbados National Oil Company Limited was established to manage the island’s domestic oil and gas resources. BNOCL was responsible for the exploration, production and distribution of crude oil and natural gas and played a key role in maintaining energy independence through the development of Barbados’ onshore oil fields. Over the years, the company expanded its operations to include the supply of petroleum products and energy-related services to both industrial and residential sectors. 

Barbados National Terminal Company Limited (BNTCL)

The Barbados National Terminal Company Limited was founded in 1998 to oversee the management and operation of the island’s primary petroleum storage and distribution terminal at Fairy Valley, Christ Church. BNTCL ensured the secure, efficient handling and distribution of imported and locally produced petroleum products, acting as a critical link in the island’s energy infrastructure. The company was also tasked with managing the loading and unloading of petroleum vessels and maintaining strategic fuel reserves for national security. 

National Petroleum Corporation (NPC)

The National Petroleum Corporation of Barbados was established in 1983 as a statutory body responsible for the distribution and sale of natural gas across the island. Created to develop and manage Barbados' natural gas resources, NPC played a crucial role in expanding access to safe, affordable, and reliable energy for residential, commercial, and industrial customers. Over the years, the corporation became a key contributor to the island’s energy infrastructure, promoting the use of cleaner-burning natural gas as part of Barbados' evolving energy mix.

The Birth of BNECL

Recognizing the need for a more cohesive and future-ready energy sector, the Government of Barbados initiated a merger of these two legacy institutions under one umbrella — giving rise to the Barbados National Energy Company Limited (BNECL). This strategic move was designed to streamline operations, optimize resource management and drive investment in renewable energy and energy transition initiatives as the nation works towards its 100% renewable energy and carbon-neutral goal by 2030.

As BNECL evolves, the integration of the National Petroleum Corporation (NPC) will further strengthen the company’s ability to lead Barbados into a sustainable energy future, ensuring a secure, reliable and affordable energy supply for all Barbadians.