June 19, 2019
Volume 3 Issue 4
Sol Shutters Jamaica Distributorship
Sol Petroleum Jamaica Ltd., a subsidiary of a Shell lubricants macro distributor, will shut down its lubricants business effective June 30 after its parent company decided it would discontinue operations in the Caribbean island country.
The subsidiary was first established in 2013 by Simpson Oil Ltd., a Barbados-based group formed by the acquisition of Shell’s Eastern Caribbean, Guyana, Suriname and Belize operations that now operates in 23 countries throughout the region.
The distributor claims it is the largest oil marketing company in the region.
A Sol Petroleum Jamaica representative confirmed the closure to Lube Report, saying the company had notified its customers of the impending shutdown.
The closing was first reported by Jamaican news outlet The Gleaner, which reported June 14 that Sol Petroleum Jamaica had begun liquidating its stock of Shell lubricants.
The company distributed automotive lubricants, marine lubricants, industrial greases and heavy-duty engine oils.
Parkland Fuel Corp., a Calgary, Alberta-based fuel and lubricants distributor, acquired 75 percent of the shares of Sol Investments Ltd. this past January, according to an announcement from both companies.
Parkland will have the option to purchase the remaining 25 percent of shares in October 2020.