The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

ESSO (Bahamas) is looking to establish a competitive edge over its wholesale rivals being the first to offer ultra-low sulphur diesel fuel in this market, its country manager stating this was the first of several “new and innovative” offerings it would unveil.

Speaking with Tribune Business at at reception to announce the launch of the fuel, Esso country manager, Valentino Hanna, told Tribune Business: “We have heard constituents of the motoring public have been complaining about the quality of diesel in this market.

“We are also responding to direct calls from the automotive dealers association, from the operators of large fleets on the island, whether commercial or otherwise, who have even been asking when this product would be available....

“The product is a response to the combination of the regulations that have been driving it in other parts of the world, in the European and also North America.”

Mr Hanna added: “Ultra-low sulphur diesel is an enabler of technology that is going to allow cleaner burning fuel emissions. It results in reduced emissions in diesel engines. We are going to be the only ones that have it. We are first to market with it, as we are with many other innovative products in the past.

“I think we are going to get a very good response from our customers at the service station, but more specifically the operators of large fleets of vehicles and also very expensive engines that generate power.”

Mr Hanna, in an interview with Tribune Business, said Bahamian auto dealers have lobbied for some time for low-sulphur fuel in this market, some having told this newspaper in the past that they were being prevented from purchasing new vehicles which have 30 per cent more engine efficiency by the high-sulphur fuel sold here.

Mr Hanna said Esso was looking to increase its competitiveness in the marketplace, with rivals such as RUBIS undertaking a major rebranding exercise.

“I think we all in the industry spend money in investing on our sites to keep them up to a certain standard. We see new entrants in the market like RUBIS; they are going about making the transition from the Texaco brand,” Mr Hanna added.

“We are, in response to that, doing a number of things that are new and innovative to this market, and one is the introduction of ultra-low sulphur diesel fuel,” said Mr Hanna.

Esso has 14 service stations in New Providence, and a total of 30 retail outlets throughout the Bahamas, including Nassau and the Family Islands.

Mr Hanna confirmed that the Barbados-based SOL Group is looking to acquire Esso (Bahamas).

“Exxon Mobil, which is our parent company, has signed a sales and purchase agreement with SOL Ltd, which is a company out of Barbados,” he added.

“SOL is seeking to purchase the interest of Exxon Mobil throughout the Caribbean in about six or seven countries, including the Bahamas. Today we are in the midst of the regulatory approvals process through the Ministry of Investments.Things are progressing well there, and we are looking to a favourable outcome to that in very short order.”