PUBLIC NOTICE

 

Findings Report on the Conduct of SOL Petroleum (Barbados) Pursuant to the Complaint Submitted by Barbados National Oil Company Limited: Allegation of Exclusionary Abuse

 

Pursuant to Section 5 (1) of the Fair Competition Act CAP. 326C the Fair Trading Commission (“the Commission”) considered a complaint submitted by the Barbados National Oil Company Ltd (“BNOCL”) which alleged that the actions of SOL Petroleum (Barbados) Ltd. (“SOL”) in the storage and transport of Heavy Fuel Oil (“HFO”) are injurious to the business’ operations, national security, and competition in general. Specifically, BNOCL alleged that without notice SOL decommissioned one of two HFO storage tanks at its Holborn facility that were leased by BNOCL and has delayed in its replacement of the same. BNOCL further alleged that SOL has delayed repairs to the pipeline that runs from its Holborn facility to the Barbados Port Inc., to the detriment of marine vessels who rely on the Port for bunkering services provided by BNOCL.

 

The aforementioned actions threaten BNOCL’s ability to fulfil its obligations to clients and have negative repercussions on the market for the supply and storage of HFO to the Barbados Light and Power Company Ltd. It was highlighted that adjacent markets (e.g. tourism, manufacturing) are also affected negatively by the actions of SOL.

 

In summary, the Commission deems that HFO is an essential component in both the generation and provision of electricity to householders and businesses. Hence, the impact of SOL’s actions is far-reaching and as a result expose vulnerabilities in the country’s energy security, which translate to national security implications.

 

To review the Summary Report inclusive of the Commission’s Decision please click here.

 

 

 

Dated this 18th day of June 2024