Guyana Oil Co. Ltd.
Guyana’s leading provider of low-cost petroleum products is looking to expand its product offerings and improve its infrastructure. Guyana Oil Co. Ltd. – known as Guyoil – is a government-owned distributor of gasoline, kerosene and gas oil based in Georgetown, the South American country’s capital and largest city.
Guyoil serves a network of seven company-owned and 40 dealer-owned stations across Guyana. “We offer a better price for our products and a large network of stations that are accessible to people throughout the country,” Operations Manager Reggie Bhagwandin says.
The company’s status as a 100 percent government-owned company gives it a lower profit margin than other gas station operators in Guyana, giving it the ability to sell at a lower price while still making a profit, he adds.
Guyoil imports gasoline, kerosene and gas oil primarily from producers in Venezuela and Trinidad through two terminals and one depot. “We make sure that our stations always have product and that they operate in a safe manner,” Bhagwandin says.
This year, the company built new concrete jetties at both of its terminals in an effort to upgrade the facilities, and also plans to remodel its flagship station on Regent Street in Georgetown to make it more profitable and customer friendly. Also under construction is a marine terminal facility the company hopes to use to import and distribute jet fuel. Future plans include entering the liquified petroleum gas market. “We are definitely looking to expand and increase our market share,” he adds.
Strong Values
Guyoil was founded in 1976, and recently marked its 35th anniversary. The company’s supplier partnerships and staff help Guyoil continue to grow from its single-station origins.
“Guyoil over the years has managed to develop a well trained, highly knowledgeable, experienced and motivated work force,” the company says. “These vital human resources are capable of rendering service to customers beyond the reach of our competitors.
“Guyoil has developed and maintained strategic alliances with foreign experts and suppliers such as CASTROL B.P. and Air B.P.,” the company continues.
“Through these partnerships we have enjoyed added advantages in having access to technical training, product development and applications in keeping with modern technology and developments in the fuel and lubricants line of products,” it says.
Staff members are guided by the core values of regard and respect for customers, high ethical standards, a focus on health, safety and the environment, good corporate government and social responsibility and hard work and productivity, the company adds.
Guyoil acts on these values in part through its participation in a number of community activities. The company sponsors events including cricket competitions, safari expeditions and school quiz and debate teams. “Guyoil fosters and maintains close relations with the communities and, mindful of its role as a major state enterprise, extends its corporate philanthropy to the wider national community,” it says.
The company also offers employees on-the-job and apprenticeship training and education reimbursement programs. It also offers an annual bursary to employees’ children upon their completion of sixth grade examinations.
Training includes environmental and safety training for staff in conjunction with the Guyana Fire Service, Environmental Protection Agency and the Guyana Bureau of Standards. “We pay heed with great care to the environment in which we operate and as such we take health, safety and environmental issues seriously,” the company says.
“Each of our facilities is well equipped to handle fires and other risks, and staff undergo detailed practical training on how to deal with perilous issues,” it continues. “The safety of our customers is absolutely vital.” EMI