Belize Natural Energy Partners suing over crude oil profits
The Belize Natural Energy Limited, BNE, is facing a lawsuit by one of its founding directors. The company is one of four parties being sued by Paul Marriott, now the Director of PR Marriott Drilling of the United Kingdom. Marriott made the claim in July of this year, asking the Nevis Supreme Court to order an investigation into the financial status of BNE. The case, which began on Monday, will determine whether or not Marriott’s claims have any bearing and if so, what the amount of the damages will be. Marriott is alleging that BNE, along with current directors, Susan Morrice and Tony Quinn, are attempting to force him and other founders out of the company. In his claim Marriot says “Morrice and Quinn have failed to act in an even-handed and fair manner to all shareholders. They have conducted the business affairs of INE in a manner that is oppressive, unfairly prejudicial to, and that unfairly disregards the interests of the Claimant”. Marriott claims that while the BNE has netted several hundreds of millions of dollars in petroleum production since its establishment in 2005, he and other partners suffered losses on their investments in the company. He is also suing BNE’s parent company, International Natural Energy Limited, INE. Marriott is also asking the court to order INE, Quinn, Morrice and BNE to purchase his shares in INE and appoint a receiver to oversee the running of INE until a settlement is reached. He also wants the court to stop the defendants from entering into any new contracts or making any substantial payments until such time.
Could it be that GOB is also being short changed in its share of revenue from the proceeds of oil sales?
Belizeans and GOB has always been short changed in whatever they do that include foreigners who only look out for their pocket book. We have able Belizeans who can purchase Marriott shares and get him out
Millions made from the spanish lookout oil,and belizeans are getting nothng out of it,only the politicians(lawyers)and the lawfirms are making millions of $$$$,i left belize 20 years ago.the streets of my old town are WORST,garbage everywhere,its terrible,belizean politicians have no shame.leaders of a country are put in power by the people to look after them,no such thing all over belize,of course this bzn politicians,dont pay for gasoline,they get everything free.so they develope this mentality”hell with the rest”i am glad i dont live in belize anymore,and would never take my kids to live thier again.
Other countries that have oil once every year give money to the citizens. Belize sure is an exception where only those who do not need get more. Think how far the revenue could go in fixing up Belmopan that is a joke of a new city and revitalizing the old Belize city.
To El Che: It shows that you have not been here for so long. You have no knowledge of the donations and support for community projects that BNE does thru its BNE Trust Fund. And yes, things are bad in Belize and we need to correct them asap but that you can’t look down pan Belize, my Belize like that.
There is no other place like home, I no even born in Belize but can assure you that I am one of the proudest Belizeans you will find. I challenge you to be someone wherever you are in the great USA, you never will be. In Belize, we can be anything we choose to be.
No forget weh you come from, cause like Shyne, you may end up here by accident and feel outta place in your own country.
Has any Belizean ask the questio, ‘who owns BNE’? The answer is definitely not the Irish people as was mentioned before. These Irish people were given a small share and placed as fronts to BNE. The reall owners of BNE are Said Musa and Ralph Fonseca. People, wake up and lets get real with what is going on in Belize.
BUT WAIT…………..Unlike BTL ……… BNE is based on a NATURAL RESOURCE.
MAYBE we should NATIONALIZE THAT INSTEAD.
ALL BELIZEANS SHOULD BENEFIT from the country’s NATURAL RESOURCES!!!!!!!!!!
to proud belizean- you should be a shamefull belizean——– maybe that you personally is getting a benefitt — i agree with che AN ME DEH DA BLZ SINCE A BAN DE EMPTY GARBAGE DRUMS ALOVER DE PLACE NO NOF—WE COUNTRY NEED A WAKE UP CALL ————MEMBA WEH HAPEN TO THE JADE MAYAS FULL THEM SELF WITH MIRRORS AN GIV WEH DI JADE NOW WE DI GET FULL WITH LI DONATION AND GARBAGE DRUM.
Thanks Andrew, I am so dum that I honestly thought that it was already Nationalized.
They say BNE!!!
This Country is gone to the dogs!!!
The Kuwaitis own their oil, the Venezuelans own their oil, the Nigerians own their oil. Dean, it is time to pick a new fight & we will have your back you on this one, that’s our oil, take it over.
Josie, I wouldn’t beat up pan the foreignas too quickly — they are the ones who funded the explorations that led to the oil discovery. A fully owned Belizean company wouldn’t have been able to afford the operation.
First of all, let me say something. Mr. Paul Marriot was the key man in the discovery of oil in Belize. This man drilled nearly all the wells in SLO. BNE only ran to him when they needed someone with the knowhow and equipment to drill oil wells. BNE claims that they found oil because of AGS’s “accurate” Siesmic testing. Thats BullS***. If thats was true BNE would have already found more oil somewhere else. BNE found oil by WILDCATING, simply means to take a chance by drilling on land with oil bearing characteristics. And let me add that Mr. Paul Marriot Is a man who treats his workers with RESPECT. Workers at PR MARRIOT make an average of BZ$400.00 per day. He appreciates his workers. The only reason he was removed from the board of directors of BNE was because he cared for workers and wanted workers to be payed better. I hope this man gets justice.
if government take bne over belizeans would get nothing, the ministers would just have more money to steal, now at least bne has lots people working for them (i believe close to 200 or more) and yes bne has done lots for the community, not nearly enough but a good start. the least government could do is let us belizeans use our own fuel tax exempt, but no, greedy dean charges tax on our own product. most belizeans dont know but we have been using belizean fuel, Blue Sky has been refining fuel and selling to belize and we got this fuel at our belizean gas station at the same high price .
Being someone who put my hard earned money into this project 6 years ago I fully support the actions of Paul Marriott. He is very couragous to be taking this action as we Irish do not have money to be able to challenge those who have stolen the company. Then they used the oil money to try and keep us quiet. Too much of the money from oil sales has been used paying lawyers but the truth will be exposed and hopefully there will be something left for us to get a return for the money we invested to have the oil found in Belize.
The BNE trust was set up to make additional money available to Belizeans for health and education, why is it not being distributed? Obviously all is not well there either?
I do not know Paul Marriott personaly but I believe that he is honest and good man looking to bring to justice to those who have wronged the Belizean people and Irish investors.
I just want a job! its a shame that there are many educated people that can’t get a decent job!!! I applied to the company, and they only complimented me! It sucks!!! Jobs is what we need and a decent pay!!!
Oil is a risky business and taking a chance is part of the game. I think the GOB is getting royalties above 80 USD per barrel. Thats a problem. Landowners in general receive an average of 25% ORRI or NRI. That means anything coming out of the ground and sold 25% gross goes to the landowner be it GOB or a private party. An ad volrem tax always goes to the country. Seems like whoever set up the deal maybe honest with his company but a bit shy on industry standards.