UPDATE: BVIEC/Delta Pet. 4-yr deal to cost approx. $150ml
When BVIEC sent out its press invitation on Monday September 1, 2014 they led news agencies to believe that the contract would have been signed today September 2, 2014. However this was not the case.
Their invitation stated, “You are hereby invited to the fuel contract signing which will take place tomorrow - September 2, 2014 at 9:00 a.m. at BVIEC’s conference room in the T & D Department.”
However when the ceremony was called to order Mr. Leroy A. E. Abraham, BVIEC’s General Manager, told those present that the contract was already signed on Saturday August 30, 2014 and today’s session was to informed the media of that development and other relevant information as it relates to BVIEC.
It was reiterated by almost all those who spoke at the briefing that the negotiations were very tight but BVIEC had found themselves in a position where a compromise was necessary as the last contract would have expired on the stroke of midnight August 30, 2014 and a new one was required for business to continue on Sunday September 1, 2014.
Managing Partner and owner of Delta Petroleum Mr Vernon Lake, who described Mr Abraham as one who expects a lot but gives very little, said that the negotiations had many striking points with some being tougher than others. Regional General Manager of Delta Petroleum Mr Bevis A. Sylvester said the contract was signed in the ‘nick of time’.
On the other hand Chairman of the BVIEC’s Board of Directors Mr Ron R. Potter said that they had made the conscious decision to go for a four year contract as opposed to the two year period of previous years.
Delta Petroleum successfully won their fifth consecutive contract with the local entity through a bidding process. The bids were publicly opened on June 6, 2014 and price was the determining factor that was in the favour of Delta Petroleum.
See previous story published on August 31, 2014:
UPDATE: BVIEC, Delta Petroleum closer to signing agreement
ROAD TOWN, Tortola, VI – The BVI Electricity Corporation (BVIEC) is closer to signing an agreement with Delta Petroleum for the supply of fuel and lubricants, this news site has learnt.
Speaking to this news site today August 31, 2014, sources close to the BVIEC said that the parties are now working out the details surrounding the time and date for the signing, likely to be early this week.
A signing ceremony that had been scheduled for Thursday August 28, 2014 was cancelled after media representatives turned up and were waiting for a considerable period.
After some time waiting, media persons were told that an agreement was not reached between the two entities and hence the signing ceremony was being postponed to a later date.
This is said to be the fifth fuel and lubricants supply contract Delta Petroleum has been awarded from the BVIEC. Further, it is this news site's understanding that Delta Petroleum is expected to sign a four-year contract instead of a two-year contract, as had been the case with the previous four contracts.
See previous story published on August 13, 2014:
Delta Petroleum awarded 5th fuel contract with BVIEC
ROAD TOWN, Tortola, VI – Word reaching our news room from our National Democratic Party (NDP) Government sources moments ago is that Delta Petroleum has been awarded another contract to supply fuel and lubricants to the BVI Electricity Corporation (BVIEC).
When contacted in St Kitts today August 13, 2014, Regional General Manager for Delta Petroleum Mr Bevis A. Sylvester said that he needed to confirm this information before offering a response to this news site.
A call to General Manager of the BVIEC Mr Leroy A. E. Abraham today was a futile effort as he said he could not speak and would return a call to this news site.
Delta Petroleum and Sol BVI submitted bids for the supply contract. This would be the fifth consecutive contract for Delta Petroleum from the BVIEC.
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23 Responses to “UPDATE: BVIEC/Delta Pet. 4-yr deal to cost approx. $150ml”
Just buy the fuel without a contract because you are paying market value or a percentage on market value anyway. This seems like much to do about nothing.
We need a more simple approach.