The Bahamas approve construction of US$5.5 billion Oil Refinery and storage facility

The construction of an oil refinery and oil storage facility will be built in Grand Bahama at an estimated cost of US$4 billion. The project will be undertaken by Oban Energies Management.

The first phase of the project will consist of a deep-water dock. In addition Oban will build a 4 million barrel storage facility which will be scaled up to 20 million barrels by year four and a 50,000 barrel per day oil refinery which will be scaled up to 250,000 barrels per day by year four.

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The Caribbean Association of Banks, Inc. is the representative body and recognized voice for banks and other financial institutions in the Caribbean. We seek to influence policies and legislation which impact the sector by advocating on our members’ behalf and participating in the global network of similar institutions.

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