GUYOIL by Sustainable Business Magazine

GUYOIL

FUELING NATIONAL TRANSFORMATION

GHANA COCOA BOARD

GUYANA OIL

“GUYOIL STATIONS ARE STRATEGICALLY LOCATED ACROSS THE LENGTH AND BREADTH OF GUYANA, TO MEET THE NEEDS OF ALL OUR CUSTOMERS”

FUELING NATIONAL

TRANSFORMATION Sustainable Business Magazine speaks to Renatha Exeter, CEO at the Guyana Oil Company Ltd, about aviation fuel, ultra-low-sulfur diesel, and contributing to Guyana.

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The Guyana Oil Company Ltd (GUYOIL) is Guyana’s state-owned petroleum distributor. Founded in June 1976, when the Guyanese government acquired and merged the West Indian Oil Company (Guyana) Ltd and the Anchor Trading Company. GUYOIL sells fuels to consumers through a distribution network of eight company-owned stations (‘COCOs’) and forty-two dealer-owned stations (‘DODOs’). GUYOIL also distrib-

utes petrol and diesel to industrial clients throughout Guyana, and in recent years has also expanded into commercial aviation fuel. Today, GUYOIL remains wholly owned by the Guyanese government through the National Industrial and Commercial Investments Ltd (NICIL), and is governed by a Board of Directors. “We’re the leading retailer of high-octane gasoline in Guyana,” explains Renatha

Exeter, CEO of GUYOIL. “GUYOIL Stations are strategically located across the length and breadth of Guyana, to meet the needs of all our customers, as befits our slogan of ‘We are Everywhere’. In order for GUYOIL to operate across our infrastructure, we proudly employ over four hundred Guyanese staff, and we don’t discriminate along the lines of gender, race, or disability. GUYOIL is a truly equal opportunity employer.”

GHANA COCOA BOARD

GUYANA OIL

FUEL ACCESSIBILITY Four years ago, in a major business development, GUYOIL established a subsidiary, Guyana Aviation Services Inc. (GASI), to supply aviation fuel to domestic and international airlines. GASI operates at Cheddi Jagan International Airport and Ogle Airport. “GASI is a wholly-owned subsidiary of GUYOIL,” says Ms. Exeter. “It is a distributor and retailer of aviation fuel. We launched it after we saw the need for competitive pricing on aviation fuel in the country. That business has grown tremendously since its launch.” 4 | GHANA COCOA BOARD

As Guyana’s oil, gas, and mineral reserves increasingly attract the interest of major international companies, Guyana’s transportation sector has become all the more important. Large parts of Guyana’s hinterland are only accessible by plane. Accessible, affordable fuel for aircraft and road vehicles is a necessity to allow local agencies and businesspeople to do their work smoothly and effectively, facilitating Guyana’s new economic growth. GUYOIL is also ensuring Guyanese people share in the benefits of global interest. “GUYOIL is a key net contributor to

Guyana’s economy,” explains Ms. Exeter. “We are fully compliant in paying all taxes required. The company’s contribution to the National Economy over the last three years was over GY$15 billion. And part of our long-term strategic plan is to ensure that all our contributions have the biggest impact possible on the lives of people in our country.” GREEN GUYANA As a state-owned company, GUYOIL is also investing in green improvements to their infrastructure.

GHANA COCOA BOARD

The Future of Fuel is Here For ten years, Staatsolie Maatschappij Suriname N.V. has proudly partnered with GUYOIL in supporting the Guyanese market with petroleum products. With an integrated value chain, Staatsolie produces and refines oil, generating four key products: Gasoline, Ultra-Low Sulfur Diesel, Fuel Oil and Bitumen. Most recently, in May 2017, GUYOIL launched Staatsolie Ultra-Low Sulfur Diesel (ULSD) to the Guyanese retail market. With only 10 ppm sulfur, ULSD reduces harmful emissions and black smoke, and eliminates exhaust odor, ensuring that Guyana stays green. As the world embraces clean technology and invests in protecting the environment, Staatsolie and GUYOIL are leading the way, ensuring Guyana has access to fuel which reduces emissions and decreases waste oil. Available at GUYOIL service stations, Staatsolie ULSD also offers better engine performance, and reduces corrosion. At the same time, ULSD performs at the same level as regular diesel fuel by mileage, and GUYOIL retails ULSD at the same price. Since new imported vehicles are designed to operate only with ULSD, Staatsolie is helping prepare Guyana for a bright, sustainable future. Today, Staatsolie is involved in several exciting new projects which will have wide-ranging impacts on the region. With new nearshore and offshore drilling projects scheduled to begin in April 2019, Staatsolie will continue ensuring fuel is plentiful and affordable. And as the new IMO 2020 regulation approach, Staatsolie is pre6 | GHANA COCOA BOARD

As Guyana and Suriname attract growing global attention, Staatsolie will continue working alongside GUYOIL, supporting development and ensuring our two countries can grow sustainably together. paring bunker fuel with less than 0.5% sulfur for vessels. Staatsolie is also proud to give back to the local community, providing sponsorships and social activities to local schools and community groups. Most recently, Staatsolie sponsored local children to attend the Special Olympics in Dubai.

for more information www.staatsolie.com

GUYANA OIL RENATHA EXETER, CEO, THE GUYANA OIL COMPANY LTD

“The country has a national agenda for improving its green credentials,” says Ms. Exeter. “As one of the most significant names in the country, we want to position ourselves in a way that will contribute to this initiative. Also, as a socially conscious company, we know that it is in the interests of our customers and employees as well. Global warming isn’t just a concern for governments; it matters to people and to the international community too. Being able to do our part to support the worldwide green agenda but more importantly our national green agenda is something we’re proud of.” As part of our strategic plan we intend to convert all of GUYOIL’s stations to solar power. “We’ve already started this journey;

recently one of our stations was refurbished, with new solar panels installed,” says Ms. Exeter. “It now runs 100% on solar power. Our intention is to roll this out across all of our stations, so that the whole GUYOIL network is entirely solar powered.” This transition to solar panels is part of a broader campaign to improve energy efficiency and environmental impact throughout GUYOIL. “We’re also replacing bulbs throughout all our facilities with low-energy alternatives,” says Ms. Exeter. “And we’ve already introduced more eco-friendly fuel. Ultra-low-sulfur diesel (ULSD) is an environmentally friendly product, and within the next two years we hope to shift a large percentage of our market away from low-sulfur diesel and towards ULSD. GUYOIL is leading the market with this.” COMMUNITY GROWTH Another key way GUYOIL supports Guyanese growth is through training and developing of their employees. “At GUYOIL we invest millions of dollars annually in training and development programs for our employees,” says Ms. Exeter. “Our staff are one of our most important assets. We keep them current with what’s happening in the industry and ensure their skillsets are fresh through rigorous programs conducted through the year. This applies to everyone in the company, no matter their rank or skill, and it has a huge benefit to the country. When someone leaves GUYOIL for whatever reason, even though we’d prefer it if they stayed with us, we know a skilled person is going out into the Guyanese workforce.” GUYOIL also partners with various community organization in Guyana in various CSR programs. “For example, in October, we partnered with other local communities and the business community for a rolling

series of events around breast cancer awareness,” says Ms. Exeter. “GUYOIL has done a number of initiatives supporting the cause and fight against breast cancer because it matters to the communities around us. We’ve also partnered with the Ministry of Health, other Ministries, and NGOs for different awareness programs. When there’s a national blood drive, for example, we will partner with local blood banks and encourage our staff to give blood. GUYOIL is constantly engaging other industries to ensure that we’re a fully embedded part of the local and national community, and that we lead not just through words but by example.” NATIONAL CONTRIBUTORS Looking forwards, GUYOIL plans to continue driving accessibility to fuel. “To maintain our position in the market, the reach of our distribution remains our focal point,” explains Ms. Exeter. “With this in mind, we’re currently in the first stage of planning and preparing the expansion of storage capacity across all of our terminals. This is part of our strategy and broader objective to improve customer experience. We want everybody coming into our stations to have the best experience possible, so we’re constantly looking at new innovations of how we can improve our services.” “This is a really exciting time for Guyana and the people of the nation,” says Ms. Exeter. “GUYOIL intends to always remain relevant through continuing to build our capacity and employee base. This will be achieved though diversifying our product range or through new partnership programs. From a strategic standpoint, we continue to see ourselves as the leading petroleum distributor. We believe, as a major net contributor to this country’s economy, that by making the right decisions we will contribute even more to Guyana in the future.” c

GUYOIL’S SENIOR MANAGEMENT TEAM.

GHANA COCOA BOARD

GUYOIL 191 Camp Street Georgetown South Cummingsburg Telephone: (592)225-1595-8 Email: admin@guyoil.gy www.guyoil.gy

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