SOL Energy receives provisional BIDEC licence in Ghana — MyJoyOnline
In Ghana, Star Oil subsidiary SOL Energy has received a provisional licence from the National Petroleum Authority for wholesale import, distribution and export activities involving petroleum products. MyJoyOnline reports.
BIDEC licence
The licence grants SOL Energy the status of a Bulk Import, Distribution and Export Company, or BIDEC. In a social media post, Star Oil Chief Executive Officer Kwame Tiekou described obtaining it as an important milestone in the backward integration of the company’s business.
More current news is available on the UA.News Telegram channel Telegram.
Market assessments
According to estimates by some industry representatives, the licence may strengthen Star Oil’s control over petroleum product supplies and pricing at filling stations in Ghana. They also noted that the previous lack of its own wholesale distribution company had limited Star Oil’s ability to compete effectively in the market.
Joy Business sources suggested that entering this segment could help Star Oil strengthen its market share and position amid intensifying competition between the industry’s two largest players.
