The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

SOL Petroleum (Bahamas) executives say it plans to build on an “incredible inheritance” and retain the Esso brand at its 40 service stations, along with its products.

Keith Glinton, general manager of Sol Petroleum (Bahamas), told Tribune Business that Exxon Mobil, the largest refiner in the world, would remain its supplier. “We are going to continue to fly the Esso flag at our service stations,” he said.

“We are going to continue to carry the Esso slate of products, including Esso fuel system energy motor gasoline and our latest introduction, our Esso ultra-low sulphur diesel. We’re going to add to that a Caribbean flavour because we are the largest Caribbean-owned and operated energy company. We think we bring some elements that are going to build on already what is an incredible legacy.”

The SOL Group, and its SOL Petroleum subsidiary, is headed by Sir Kyffin Simpson, the businessman who holds the Suzuki franchise for the entire Caribbean region via his Simpson Motors business. The Sol Group’s purchase of Esso (Bahamas) is part of a wide-ranging deal - said to be valued at $650 million - that will see the Barbados-based conglomerate acquire ExxonMobil operations in six other Caribbean territories.

“We are going to bring a focus on service and hospitality, which is what we are all about in the Caribbean,” said Mr Glinton. “Due to the fact that we are a part of the Caribbean, we understand even more intently than our predecessor how important it is to be deeply involved in the community, and we’re going to build on the legacy of community involvement of our predecessor.

“Our motoring public can look to having the same high quality fuel, with the same brand that they have come to trust for over a decade. We think we are well positioned to continue to build on an incredible inheritance that we have had passed on to us, and add something new that going to increase value of the offerings.”

Mr Glinton added: “We have a significant presence in the Family Islands, and we will look to expand on that as we continue to serve the needs of the Bahamas. Our immediate plans are to build on the network that we have, and step in and service any area where our customers demand us to go.”

SOL Petroleum has extensive Caribbean-wide interests, having acquired Shell’s retail and commercial fuels business in Barbados, St Lucia, Antigua, Anguilla, Guyana, Suriname, Belize, St Kitts/Nevis, St Vincent, Grenada, British Virgin Islands, Netherlands Antilles and Dominica. It operates 350 Shell-branded service stations in the Caribbean, plus another 60 under the Sol brand in Haiti, Anguilla, St Kitts, St Maarten and the BVI. All told, SOL Petroleum operates 55 companies in 19 Caribbean territories, and it has long wanted to break into the Bahamian market having made a bid on Shell (Bahamas) several years ago.

Of the 40 stations in the Bahamas now under its control, 14 of those are in New Providence. Facing stiff competition in the petroleum retail market from RUBIS, which took over the Texaco business from Chevron two years ago, and Shell (FOCOL), Mr Glinton said Sol Petroleum was focusing “first and foremost” on its customers.

“We have been able to make a make a compelling case to our customers for generations that we are their preferred choice,” he added. “We have been able to demonstrate that we are committed to working with Bahamians. We have dealers and operators who have been a part of our family now for two and three generations. We know what we do well. We bring the highest quality products, the most experience and familiarity with the industry, the largest refiner who is committed to being our supplier and we also bring an incredible logistics footprint.”