South America / GoM

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Summary | Profile

Country profile: Barbados

Location: Caribbean, island in the North Atlantic Ocean, northeast of Venezuela
Climate: tropical; rainy season (June to October)
Terrain: relatively flat; rises gently to central highland region
Size: 431 sq. km total (Land area: 431 sq. km )
Population: 281,968 (July 2008 est.)
Languages: English
Government: parliamentary democracy
Capital city: Bridgetown
Legal system: English common law; no judicial review of legislative acts; accepts compulsory ICJ jurisdiction, with reservations
Currency: Barbadian dollar (BBD)

Country profile

The islands of the Caribbean basin are predominantly net energy importers, with the exception of Trinidad and Tobago. Agriculture and natural resource extraction activities continue to constitute the basis of the islands' economies, though the tourism and service sectors are growing. In recent years, the Caribbean countries have been worried that higher global oil prices will impair their efforts to expand economically. In response, the island nations have been discussing ways to better integrate their energy sectors, especially in regards to increased natural gas exports from Trinidad and Tobago to other islands. These efforts have also focused on the major external energy suppliers to the region, such as Mexico and Venezuela.

Energy production and consumption

Oil Gas
Production: 1,002 bbl/day (2005) 27 million cu m (2005 est.)
Consumption: 9,000 bbl/day (2005) 27 million cu m (2005 est.)
Exports: 1,666 bbl/day (2005)  
Imports: 7,071 bbl/day (2005)  
Reserves: 2 million bbl (1 January 2006 est.) 135 million cu m (1 January 2006 est.)
Major fields:

Barbados - recent news

02 Jan 23
Barbados postpones 2022 Offshore Licensing Round
The Ministry of Energy and Business of the Government of Barbados has announced the postponement of the Barbados 2022 Offshore Licensing Round, which was scheduled to commence on December 1, 2022. The Offshore Licensing Round will now be launched in Q1, 2023.
09 Aug 22
Barbados: Wello and BIDC sign agreement for 5 MW wave energy farm in Barbados
Finnish wave technology provider Wello and Export Barbados (BIDC), an agency of the Barbados Government, have signed an agreement for deployment of a 5 MW wave energy farm in Barbados.
09 Feb 20
Barbados issues offshore exploration licences to BHP
The Ministry of Energy and Water Resources has issued offshore exploration licences for the Carlisle Bay and Bimshire blocks to BHP Petroleum. The blocks are located between 40 km to 140 km southeast of Barbados in waters ranging from 1,200 to 2,000 metres in depth.

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