The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

TEXACO retailers yesterday expressed optimism over the way forward with their new wholesale distributor, one telling Tribune Business: "In terms of what we had with Chevron it's like night and day."

Executives of RUBIS/Vitogaz are meeting with Bahamian retailers this week following the "nine-figure buyout" of Chevron's fuels marketing and aviation business in this nation. Following a meeting with Rubis executives yesterday, which he described as "extremely positive", Ryan Knowles, general manager of Wells Service Station, told Tribune Business the company - whose focus was on the downstream sector - appeared more willing to work with the retailers.

Mr Knowles told Tribune Business: "We are not going to be looked at as something; we are going to be looked at as persons, as a partner in this industry. They are here for the long-term. They are very committed to their brand. They are going to be rebranding all the stations, and they are going to be very aggressive in this industry. They have a lot of things planned."

He added: "We as station owners are very excited about the changes that are going to come along. In terms of what we had with Chevron, it's like night and day. They are focused on the downstream sector, whereas Chevron was focused on upstream, meaning they were into oil rigs and oil exploration.

"This company [RUIBIS] is into the downstream, which is our level. It's a real sigh of relief that they are willing to work with the retailers."

This was disclosed by Chevron earlier this week, when it explained the rationale for the RUBIS sale in response to Tribune Business's questions.

"The decision to exit our fuels marketing and aviation businesses in the Caribbean, including the Bahamas, Cayman Islands and Turks & Caicos, is in line with Chevron's ongoing effort to concentrate downstream resources on strategic global assets, and deliver strong returns for our investors," the oil giant told this newspaper.

Mr Knowles said he was informed that RUBIS's rebranding efforts would take a year, but felt that it would be months due to how aggressive the company would be. Mr Knowles added: "For the consumers out there, they are bringing a more cleaner and more efficient gas."

Rodney Eve, manager of Texaco on Prince Charles Drive, added: "We are hoping for changes because Chevron wasn't too customer friendly. I just hope this company is more customer friendly, particularly the relationship with the retailers."

Bernard Dorsett, owner of Porky's Gas Station, recently told Tribune Business he was anxious to know what RUBIS was all about, saying: "I have not an inkling what they are about, but I would like to know. I am an independent dealer; I would like to know what my options are. I went online and saw some of their set-ups in the Caribbean. It's a pretty big company. You can't be worse than Chevron. I thought Chevron was the worst dealer I had to deal with."

Chevron announced on Monday it had concluded the sale of its fuels marketing and aviation businesses in the Bahamas, Cayman Islands and Turks & Caicos to Vitogaz, a wholly-owned subsidiary of RUBIS.

The French multinational energy company gains ownership of 39 retail stations, eight aviation facilities, six fuel terminals and one joint operation at the Nassau airport terminal, and a commercial and industrial fuels business.

These assets are in addition to Chevron's previously announced sale in the Caribbean and parts of Central America to RUBIS in July 2011 that consisted of 174 service stations operating under the Texaco brand, an equity interest in an associated refinery operation, proprietary and joint-venture terminals and aviation facilities, and Chevron's commercial and industrial fuels business.