In Business

Sol Petroleum Bermuda Limited was given a warm reception by officials of government and the petroleum industry when the new company was unveiled today to customers in Bermuda.

The official launch follows the purchase of ExxonMobil’s Caribbean businesses in the Western Caribbean (Bahamas, Barbados, Bermuda, Dominican Republic, and Grand Cayman) in January earlier this year.

The transaction included ExxonMobil’s fuels marketing business as well as a long term brand alliance which provides for the continuation of the Esso brand at the acquired retail sites. Customers will therefore be able to buy the same high quality fuel and products that are associated with the Esso retail offering when they visit Esso service stations across the island.

In addition to retail, under the Sol Brand we will continue to service the customers in aviation, marine and commercial fuels through the continuation of the many very important relationships already established with customers in these segments.

Speaking during the opening ceremony, Chief Executive Officer of The Sol Group, Gerard Cox said not only had Sol’s geographical footprint grown since inception, but so has its influence and responsibility.

He stated: “We have made significant strides in building a safe, sound, and viable business, which continues to grow exponentially. Following our most recent purchase of ExxonMobil’s fuel marketing business in Barbados, Bahamas, Cayman, Dominican Republic and Bermuda, we were very pleased to have established a long term partnership with Exxon which provides for the continuation of the Esso brand across the region and the sourcing of fuels from their Gulf Coast refineries. Customers will therefore be able to buy the same high quality fuel and products that are associated with the Esso retail offering.”

Mr. Cox noted also that Sol’s Caribbean roots gave the company a unique and advantageous appreciation of regional markets including Bermuda.

“As people from the Caribbean, we share a deep appreciation and understanding of our region, its people, and their needs. We can therefore work together to provide even greater value to our customers and stakeholders. Our objective is to offer quality energy solutions, deliver the best in customer satisfaction and serve the needs of the communities where we do business. Our focus across the region has been on long-term social partnerships; in education, sports, the environment and energy.”

Also addressing the ceremony, General Manager of Sol Petroleum Bermuda Limited, Mark Fields said the Esso brand had been, and would continue to be important contributor to the Bermuda market. He said the company was therefore happy to be able to continue offering its customers the same high quality products associated with Esso as part of the Sol organization. The General Manager said plans were also being developed for Sol Bermuda to import a high quality line of lubricant products.

“Sol is a respected regional player and has demonstrated its commitment to regional development in every market where it has established its operations. The Bermuda Market is no exception. The Sol Bermuda Team is proud to be part of such a strong Caribbean organisation. Sol in Bermuda will look for further opportunities to grow the brand and give back to our local community.”

Mr. Fields said the new company also looked forward to a continued partnership with suppliers and associates in our Convenience stores.

“To our vendors in our Convenience stores, we welcome the renewed partnership as we continue to sell the high quality products to our customers. To our food service provider “BUZZ” we look forward to a good future together serving the Bermuda public with outstanding cuisine.”

Sol is also the largest macro distributor of Shell lubricants in the Caribbean and will offer a full range of lubricants, including synthetic high-performance products to Bermuda.