The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

ESSO retailers are they anticipating a relatively smooth transition with no major changes to their operations, now that the Barbados-based Sol Group has consummated its acquisition, with some already noticing improvements in maintenance and repair response.

One Esso dealer, who did not wished to be named, told Tribune Business: “I have found that the maintenance and repair aspect has improved; faster, better and hopefully at less of a cost to us. That has been one improvement I have noticed.

“We have some procedural changes we have to do on a daily basis that is going to be tedious, like checking to make sure no holes are developing, that the canvas is clean and the coolers are working.

“Hopefully, we can get that changed to a weekly basis. Other than that, everything looks like smooth sailing. They haven’t increased any costs on us, and for the most part all of us have the same contracts that we had extended for three years. That’s a good thing. I’m good for the next three years, then we will see.”

Arnold Heastie, who owns Heastie’s Service Station, told Tribune Business: “The only thing that is changing is at the top. Same company, just changed their name. It hasn’t changed anything really.

“Esso Bahamas is now Sol Petroleum. Nothing has changed significantly. The owner is now in the Caribbean, so I’m sure it would be quicker to get a response, but other than that I don’t see anything that’s so significant.”

“As far as the product, it might improve but I don’t know. I’m still having problems down at Blue Hill Road. I’m affected by the road. My business is down 30 per cent at least. It’s an ongoing issue. I just have to try and keep my expenses down,” added Mr Heastie.

SOL Petroleum Bahamas executives told Tribune Business recently that the company plans to build on the Esso legacy and retain the brand at its 40 service stations across the country, along with the Esso slate of 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.

The SOL Group, and its SOL Petroleum subsidiary, are 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 saw the Barbados-based conglomerate acquire Exxon Mobil operations in six other Caribbean territories

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 when that operation was on the market prior to its purchase by BISX-listed FOCOL Holdings.