Sol officially takes over Esso

Sol Petroleum celebrated its  purchase of ExxonMobil’s Bermuda business on Wednesday.

Sol, which is a Barbados-based company, will now operate the island’s Esso stations as well as supply aviation fuel to all the planes that use LF Wade International Airport. 

The sale was previously announced in 2013 but went through officially on January 1, 2014. On Wednesday, at Pier 6, there was a grand welcome party for Sol. 

There are no plans to change the service station names from Esso to Sol.

The company currently operates in 21 countries.

Mark Fields, general manager of Sol Petroleum Bermuda Limited, said: “Sol is a respected regional player and has demonstrated its commitment to regional development in every market it has established operations. The Bermuda market is no exception.”

Mr Fields added that the relationship with Buzz as the food service provider in the service stations, will remain. “We look forward to a good future together serving the Bermuda public with outstanding cuisine.”

Mr Fields added: “We’re committed to offering quality products and excellent energy solutions to our customers.”

Sol

“Energy is our business and our customers are our priority. We are passionate and determined to lead the way for the best energy solutions for Bermuda and its everyday needs.”

“Every aircraft you fly out of Bermuda will be fuelled by Sol aviation fuel.”

“We have advance plans to reintroduce to Bermuda a complete line of Sol/Shell lubricants and that will be done within the next quarter.”

Gerard Cox, CEO of the Sol Group, said: “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.”

Bob Richards, Finance Minister, hailed the move saying it is an indication of a brighter future for Bermuda.  Mr Richards said:  “What an appropriate name for an energy company. Sol is Spanish for sun, which is the ultimate source of energy for the earth. We look forward to a wonderful relationship between Sol and Bermuda. Sol’s growth in Bermuda, will be our growth in Bermuda. 

“We would love to do anything we can do as a Government to assist in growing your business and having that business having an affect in growing business in Bermuda and creating new jobs in Bermuda. We’ve all had a pretty difficult run in the past five years and we’re looking to turn that around and I believe that your investment and your commitment to Bermuda is an indication of better things to come.”