28th May 2015 09:25
LONDON (Alliance News) - Bahamas Petroleum Co PLC Thursday said the second reading of the new Petroleum Bill in the Bahamas has been delayed.
The company said that following a procedural request by the Leader of the House of Assembly, a number of amendments to the bill from the ministers for the environment and housing were tabled. The second reading has been delayed in order to account for these but is expected to resume in the near term, the company said.
"Following commencement of the debate phase the proposed Petroleum Bill and attendant Regulations were resubmitted to address procedural matters. This represents a slight delay in the process, but will ultimately allow for a more efficient debate and we expect the second reading of the legislative package to resume and conclude in the coming weeks," said Chief Executive Simon Potter.
Shares in Bahamas Petroleum were down 6.8% to 2.05 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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