SOL Energy, subsidiary of Star Oil, secures provisional BIDEC licence from NPA
Star Oil is now venturing into the “Bulk Oil Distribution Space” as its subsidiary, SOL Energy, secures a provisional licence from the National Petroleum Authority to operate as a Bulk Import, Distribution, and Export firm (BIDEC).
Star Oil's subsidiary SOL Energy has obtained a provisional BIDEC licence from the National Petroleum Authority, allowing the company to operate as a Bulk Import, Distribution, and Export firm. This move is seen as a significant milestone by the CEO of Star Oil, Kwame Tieku, who described it as part of the company's strategy to integrate its business operations further.
Industry observers believe that the acquisition of a bulk distribution firm by Star Oil could provide the company with greater control over the supply and pricing of petroleum products in Ghana. This control could potentially benefit Star Oil as it competes with the top two players in the industry, where competition has become more intense in recent times.
Additionally, with SOL Energy now in charge of bulk distribution, Star Oil may find it easier to consolidate its market share and strengthen its position in the oil marketing sector.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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