Sol Jamaica keen on gas station and LPG venture
Sol Petroleum Jamaica Limited will push through its plans to acquire gas stations and establish a cooking gas start-up this year, according to Jamaican newspaper The Gleaner.
The company, which is a subsidiary of Barbados-based Sol Petroleum, is in talks with other sellers to acquire gas stations in the country, which will be rebranded as Sol after acquisition.
This follows after it lost bid to acquire Petroleum Company of Jamaica, a government-owned company that operates Petcom gas station network and Cookie liquefied petroleum gas (LPG) filling plant and distribution network. It was sold to Phoenix for USD20 million.
Robert Jackson, general manager of Sol Petroleum Jamaica, said that there are opportunities in the market and he’s optimistic that the company would get into LPG and gas station business this year.
The company’s current business includes distributing Shell-branded engine oils and refuelling ships in the Kingston Harbour. It also controls 20 percent of the 14 million-liter lubricant market in the country.