Friars Hill RoadAntigua and Barbuda, WI - 00000

Category: Media

21 posts


ST. JOHN’S, Antigua and Barbuda –  March 24, 2021.  The Government of Antigua and Barbuda (“GOAB” or the “ Offeror”) announces that it will divest ten percent (10%) of its holdings in the West Indies Oil Company Limited (“WIOC”) commencing 24 March, 2021. This amounts to 301,920 ordinary shares. Fifty percent (50%) of the offer is reserved for public servants and the remainder for other citizens and institutions of Antigua and Barbuda, OECS and CARICOM in that order of priority. Where the offer is not fully subscribed according to the outlined preferential tiered order, the Offeror reserves the right to transfer the shares on a first come, first serve basis.

WIOC is an Antiguan company with a regional presence in the energy sector. Its principal activity of business is the sourcing, marketing, distribution and storage of petroleum products. WIOC was established in 1965 by Natomas and Amoco International Oil. The GOAB, a minority shareholder in WIOC since 1980, gained controlling interest in the Company in 2015, and currently owns fifty-one percent (51%) of the shares.

The share offer (the “Offer”) price is fixed at XCD60.00 per share with a minimum allocation of fifty (50) shares per applicant and maximum allocation of fifteen thousand, and ninety six (15,096) shares per applicant.  The Offer opens on 24 March, 2021 and runs until 21 April, 2021. In the event that the shares are oversubscribed, one hundred, forty-two thousand and eighty (142,080) additional shares will be made available. 

The Government of Antigua and Barbuda is expected to raise approximately EC$18 million to be utilized to fund a number of its critical capital projects. 

The Prime Minister of Antigua and Barbuda, the Honourable Gaston Browne, believes that this is a prime opportunity for citizens of Antigua and Barbuda. 

“For over 50 years, the West Indies Oil Company Limited has continued to grow, generating profits of over $26 million dollars in 2019. By going public and offering shares in WIOC, our government is providing the opportunity for Antiguans and Barbudans to build wealth, secure retirement, diversify investment portfolios and build a secure financial future for your children.  The management and staff of WIOC have demonstrated their capacity via the profitability and sustainable growth of the company.  With the future of WIOC looking very bright we invite citizens of Antigua and Barbuda to seize the opportunity to become a part of the ownership of WIOC. My Government believes that an investment in WIOC will be an investment in your family’s future and the development of our nation’s economy.”  said Prime Minister Gaston Browne. 

Gregory Georges, Chief Executive Officer of WIOC commented that the Board of Directors, Management and Staff are committed to successfully guiding WIOC’s strategy with the goal of creating value for their shareholders and all stakeholders, in particular, its customers and employees in the communities in which it operates.  

“Over the past 50 years, WIOC has emerged as a strong and stable company, playing an integral role in the lives of the people of Antigua and Barbuda. The dedication, professionalism and experience of our management team and employees, their commitment to the core values, mission and vision of the company, are evidence of our continued growth and expansion.”

The Offer is subject to the laws of Antigua and Barbuda, specifically the Securities Act 2001 and the Companies Act 1995.

 Lead Arranger:
FirstCaribbean International Bank (Barbados) Limited – Barbados
Michael Mansoor Building, Warrens, St. Michael | Barbados BB 22126
Co – Arranger and Principal Broker:
Bank of Saint Lucia Limited.
#1 Bridge Street, P O Box 1860, Castries LC04 101 | Saint Lucia

The Broker Dealer:
Bank of Saint Lucia Limited.
Mr. Lawrence Jean
Tel: 1 (268) 736-2137 or 1 (758) 724-6898

Ms. Deesha Lewis
Tel: 1 (758) 456-6684 or 1 (758) 712-8912

This advertisement does not constitute a recommendation by the Joint Lead Arrangers, the Offeror or WIOC to any recipient of this material in relation to this Offer. Each person should consult with a financial advisor licensed to provide financial advice by the Eastern Caribbean Securities Regulatory Commission before making any investment decision. Prospective investors understand that there are risks involved in acquiring or holding the securities being advertised. Securities may fluctuate in value in money terms and the investor may not get back the amount invested. Income (dividends) from the securities may fluctuate in value in money terms. The securities are not traded on the Eastern Caribbean Securities Exchange so it may be difficult for investors to sell the security or to obtain reliable information on its value or the risks to which it is exposed. Prospective investors understand that any forward looking statements made do not constitute guarantees of future performance and involve assumptions, uncertainties, risks and various factors that are difficult to predict and may cause forecasts to materially differ from reality.

Visit our website at to access application forms and to download a copy of the Prospectus.

The West Indies Oil Company Limited (WIOC) continues to extend the frontiers in delivering the best value to our customers. The exclusive supplier of all petroleum products in Antigua and Barbuda is delighted to announce that Ultra Low Sulphur Diesel (USLD), a fuel-efficient and high-performance diesel can now be purchased at all locations across its network of 17 service stations in Antigua and Barbuda. ULSD is a cleaner-burn fuel and is less harmful to the environment than regular diesel. WIOC is confident that having phased out the regular diesel product, customers will be highly impressed with the greater efficiency and performance of their vehicles from using ULSD. We take this opportunity to also reaffirm our relentless commitment to providing high quality petroleum products in an environmentally-sustainable manner.
This product is being retailed for EC$12.20 per Imperial Gallon, the same price as the regular diesel which has now been discontinued. We are excited that customers can now enjoy the greater value of an improved product at a lower cost.
ULSD is already being used globally and the full roll-out of this product in this market is another milestone on the impressive growth and expansion trajectory upon which WIOC has embarked, buttressed by our core values of Safety, Integrity, Reliability, Innovation and Excellence.
For more information, please visit our website and our Facebook page for updates.
We wish for you and your families the very best for 2021.

In keeping with its commitment to divest a portion of its shares in The West Indies Oil Company Limited to the citizens of Antigua and Barbuda, The GOVERNMENT OF ANTIGUA AND BARBUDA has taken the decision to divest the first tranche of shares through the issuance of a share offering to the public, before the end of 2020.

THE WEST INDIES OIL COMPANY LIMITED is currently in the process of finalizing the prospectus to ensure compliance with all legal, regulatory and other requirements.

Further details will be provided to the public upon final approval by the ECSRC and the Registrar of Companies.


Safety is our core value for our employees, contractors, and customers – it is at the crux of everything we do across our business. As an essential service provider, we take our responsibility seriously to mitigate the effects of our stakeholders contracting the Coronavirus. This is why we have taken enhanced health and safety precautions across our operations and have set in motion the following actions as part of our business continuity plans:

  • All customers upon entry to our service station buildings are required to wear face masks or face shields and are required to sanitize their hands. Our Service Station Attendants are also required to wear face masks to serve our customers across our locations in Antigua, Barbuda and Dominica.
  • To enhance safe customer use, all Liquefied Petroleum Gas (LPG) Cylinders ‘cooking gas’ handled at our facility undergo a rigorous cleaning process upon entry to our facility.
  • To limit customer traffic across our facilities, all product orders, cheque payment and product order services are provided at our main entrance. For customers entering our facility, including our employees and contractors, the following safety protocols must be adhered to:  
  • Undergo mandatory temperature checks upon entry at our Security office
  • Wearing of face masks or face shields in and around our facility
  • Handwashing with soap and water for at least 20 seconds at the wash stations provided at the entrance
  • Maintaining a safe distance of 6 feet from staff and contractors

We are also pleased to advise that our office has resumed regular working hours from 8am to 4pm. During this critical time, please continue to be safe. Be assured that we are committed to providing uninterrupted service to our customers and partners premised on our core values of Safety, Reliability, Integrity, Innovation and Excellence!


Entry protocols have been put in place for ALL including employees, contractors, and customers considering the circumstances surrounding COVID 19. These protocols must be adhered to at ALL TIMES.

Access through Main Gate

  • ALL persons including employees who enter the main gate facility MUST wash hands with soap and water for 20 seconds in the handwashing facility provided at the entrance.
  • ALL persons entering our facilities MUST always wear face masks.
  • A safe distance of 6 feet from Security Officers or any other staff must be maintained at all times upon entry and during all interactions.
  • ALL persons are required to conduct transactions or interact with persons in the Marketing Dispatch Offices via the Customer Service window. Entry will only be granted if necessary.
  • Where it becomes necessary for persons to enter the main gate customer service area, only two (2) persons will be allowed at any time and that said persons shall remain at a safe distance of 6 feet.

Access to Administrative / Operations Offices

  • ONLY authorized WIOC employees are permitted to enter office areas at the administrative building except authorized by Management or visiting the Finance or Human Resources offices.
  • Persons who require access to our Terminal Areas (Laboratory, Purchasing, Maintenance, Terminal and Control Room) MUST conform with the handwashing protocols before entering the facility.
  • The following services are to be conducted at the security point: cheque payments, pro-forma invoices and product orders. Our Security Officers will direct such queries to the Finance Department.
  • Persons who display symptoms of persistent cough, sore throat, runny nose or sneezing may be denied access from entering our facility.

Customer Parking

  • Customers are required to park in the Customer Parking Area or Main Parking Lot or as otherwise directed by our Security Personnel.


LPG Refills/New Purchase

  • Persons should seek to refill or purchase their 20lb and 25lb cylinders at one of our 16 Service Stations and community LPG outlets across the island.
  • Employee 20lb. cylinders are limited to three (3) per employee, per month. Official policy to follow.
  • Orders/refills for 100lb cylinders should be arranged through either of our two

(2) distributors: Kramm Distributors (562-4277) or MTM Haulage (562-0686).

  • Hoarding of cylinders is strongly discouraged.

Your cooperation is appreciated as we seek to safeguard the health and safety of all through these difficult times.

Householders now have the option of purchasing Liquefied Petroleum Gas, or cooking gas in a more consumer-friendly cylinder. The company launched its new 25-pound-capacity cylinder. The cylinder is lighter and made of a rust-resistant material. Critically as well for consumers, the container holds more fuel, meaning even better value, according to Kiz Nathaniel, WIOC’s Special Projects Officer, speaking on the heels of the soft launch of the product on Friday, April 5 in St John’s.

The company, which is the sole distributor of cooking gas in Antigua and Barbuda, says the new product is initially available in three service stations; Friars Hill, outside the company’s headquarters, as well as the Spencer’s and Belle Vue locations. Roll-out is expected to continue on a phased basis across the entire network.

The Antigua-based West Indies Oil Company is to roll out one of its most expansive projects yet, in another tell-tale sign of its expanding reach and growing investment footprint. The company is to invest XCD$40 million into the construction of a business park along Friars Hill Road, with work expected to begin in 2019. This was disclosed during the 2019 Budget Presentation by Prime Minister and Minister of Finance, Corporate Governance and Public Private Partnerships, Hon. Gaston Browne.

The initiative represents a further diversification of the company’s activities and an expansion beyond its core business of oil storage and distribution. The project is to be rolled out in proximity to WIOC’s headquarters, and is expected to catalyze job creation and further economic activity in Antigua and Barbuda.

The Business Park is among a slew of expansion initiatives being pursued by the company this year as part of a XCD$50 million dollar investment in further organic growth in 2019.

The West Indies Oil Company has announced another major milestone in improving operational efficiency and service excellence. The newly-installed five-point Conventional Buoy Mooring System (CBM) north of the Sea Island Jetty is due for completion in June 2019. It introduces best-in-class modalities, by allowing for the transfer of products between tankers and WIOC’s shore facility. Critically, it allows for the simultaneous loading and off-loading of products. This brings enhanced efficiency and allows the company to further improve the delivery of various services to its customers.

Commenting on the new development, CEO Gregory Georges says, “This new installation will facilitate multiple vessel operations, improved operation times and faster turnaround of customer vessels and represents a remarkable upgrade to the company’s sea-side infrastructure.”

Even more improvements are being mulled, as the company keeps in step with international best practices.

The West Indies Oil Company, WIOC, has moved to significantly boost its storage capacity for Liquefied Petroleum Gas, or cooking gas in Antigua. The sole distributor of the product in the market has acquired eight additional containers, each with a capacity of forty-five thousand gallons.

The ‘bullets’ as they are referred to in the distributive trade, will ensure there is an adequate supply of LPG in the periods between shipments. This development heralds good news for both householders and business operators who rely on this fuel for meal preparation. In addition, it is also a prudent business decision by WIOC which points to the resultant reduction in freight costs. This is so because increased storage capacity means there is less frequent importation of LPG.

WIOC’s Chief Executive Officer, Gregory Georges says this development is a momentous one for the company and is congruent with its growth and development strategy to better serve its customers.

The transportation of the containers from the Deep Water Harbour was a major logistical exercise, but was completed without incident. They are now at the headquarters of the company on Friars Hill Road and are to be installed shortly.

New ground has been broken in the empowerment of women in Antigua and Barbuda, and the West Indies Oil Company has been at the forefront of those efforts. The company has walked the walk as an equal opportunity employer, fueling the professional development of an impressive cadre of female employees, who have welcomed the opportunity to shatter the glass ceiling.

The management of the Friars Hill-based oil storage and distribution entity says this has been particularly evident over the past two years, as it accelerates the development of its human capital.

WIOC knows that its strength rests with a committed and competent group of employees who are willing to unlearn and relearn in an age of dynamism and the wonders of technological innovation. Never before in the organization’s history has there been such an enabling environment for all employees, irrespective of age and gender, to fulfil their true potential. The company is heartened to see that increasing numbers of women have answered this clarion call to serve in various capacities. This is even more impressive since female professionals are making a foray into areas hitherto dominated by their male counterparts.

WIOC is proud to be among the most progressive companies in its approach to female empowerment. The upshot has been an uptick in the number of females entering management positions, as well as Engineering, Finance and Terminal Operations. This has been buttressed by a culture of inclusivity and excellence in which all employees are motivated and encouraged to extend the boundaries of the possible and the probable.