Friars Hill RoadAntigua and Barbuda, WI - 00000

Tag: Thermal

4 posts

In another demonstration of commitment to the continuous development of its human capital, the West Indies Oil Company recently facilitated a 3-day training in project management for all Supervisors and Middle Managers. The exercise was conducted by Radient Project Management Services Limited (RPMSL), whose co-owner Michael Charles delivered the course.

The WIOC Middle Managers benefitted from Mr Charles’ four decades of experience in the area of project management. The material imparted during the course is expected to fine-tune the managers’ efficacy in extracting the best project value while meeting the over-arching objectives of the project holder.

The company says this underscores its focus on creating an enabling environment for its second-tier managers to execute multiple projects, some of which are undertaken simultaneously.

All course participants expressed their gratitude for the opportunity and vowed to utilize the new approaches they garnered during the course to deliver even greater service to customers.

The West Indies Oil Company has received approval from stakeholder agencies to operate its Sea Island Jetty at nights, as opposed to the exclusively day-time operation hitherto. This is being hailed by WIOC as a seminal development in its expansion and efficiency thrust. This will be of immense benefit to the company’s growing base of commercial customers who take advantage of its convenient and cost-effective storage facilities. They will be able to have their vessels loaded and off-loaded during night-time hours, if the need arises.

The approval for the expanded operations is the culmination of months of discussions among WIOC, the Antigua and Barbuda Department of Marine Services and Merchant Shipping (ADOMS) and the Antigua Port Authority.

The new arrangement comes at an opportune time as WIOC pursues strategic investments to grow its storage business. The company’s ‘tank farm’ has seen impressive expansion to satisfy growing demand from regional and international entities.

The West Indies Oil Company has again demonstrated its commitment to environmental sustainability. The company has concretized its collaboration with the Department of Environment, DOE, an arm of the Ministry of Health, Wellness and the Environment in Antigua and Barbuda. WIOC says the aim is to continuously devise ways of minimizing any deleterious impact of its operations on the natural environment.

The DOE plays a seminal role by ensuring that WIOC’s procedures and processes accord with stringent environmental policies. WIOC’s CEO, Gregory Georges, has welcomed this ongoing engagement, emphasizing that the company prioritizes “the safety of the stakeholders and its commitment to environmental protection”.

WIOC says its fidelity to these principles is non-negotiable.

The Government of Antigua and Barbuda, GOAB, is now the majority shareholder in the West Indies Oil Company. The Gaston Browne administration executed the deal through a bridging loan, with which it purchased 100 per cent of the company’s shares from the previous owners for US$30M. The Government then divested 25% of those shares to Petroleum of Venezuela S.A. (PDVSA) and 24% to Fancy Bridge Limited; a Hong-Kong based investment firm. The government utilized the proceeds of the divested shares to repay the bridging loan. The Government, and by extension the people of Antigua and Barbuda, have retained a controlling 51 per cent stake in the entity.

The Government of Antigua and Barbuda has outlined grandiose plans to transform WIOC into the leading petroleum storage and distribution company in the Eastern Caribbean and one of the most progressive in CARICOM. Senior government officials indicated they were proud of the decision to “ink this deal” for the citizens of Antigua and Barbuda.

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