PETCOM and NPMC Sign Marketing Contract

The Petroleum Company of Jamaica Limited (PETCOM), and the National Petroleum Marketing Company of Trinidad and Tobago (NPMC) have signed a three-year contract, which will result in PETCOM once more distributing and marketing oils and lubricants for the Trinidadian entity.
The signing, which took place at the Jamaica Pegasus Hotel in Kingston today (March 3), was a renewal of the original contract first signed in 1991 between NPMC and PETCOM for the supply of blended lubricants packaged specifically for PETCOM’s Jamaica PACE brand, under which PETCOM markets automotive and industrial grade lubricants.
According to General Manager of PETCOM, Desmond Thomas, the contract was revised and upgraded to provide support for a more aggressive marketing approach by PETCOM. He said the entity would benefit from added sales that would accrue with the lubricants being supplied in bulk directly from the NPMC.
Mr. Thomas said PETCOM was further pleased with the relationship with NPMC as it was a well established force in the oil and petroleum business in Trinidad and Tobago, with the company’s products meeting standards established by the American Petroleum Institute and SAE performance standards.
The General Manager informed that another six PETCOM branded stations would be added to the existing 31 outlets by year-end, as the company is poised for expansion.
He said chemical analyses performed on PACE lubricants indicated that PACE products were on par with, and in some cases far superior to other lubricants currently available in Jamaica. He pointed out that the new packaging would greatly enhance the visual impact of the products, which were already on shelves throughout the island.
Chairman of PETCOM, John Cunningham said the signing was a concrete example of Caribbean enterprises working together in the context of regional co-operation, which was necessary in an increasingly globalized world, to maintain economic viability.
Meanwhile, Permanent Secretary in the Commerce, Science and Technology Ministry, Dr. Jean Dixon said with the upgrading and repackaging of the PACE line, as well as the technical support to be provided by NPMC, PETCOM would be better positioned on the local market as a supplier of lubricants, oils and transmission fluids.
She said opportunities existed for further partnership and investment between the two countries, with the onset of the Caribbean Single Market and Economy (CSME). Dr. Dixon pointed out that the agreement augured well for the two state owned entities, noting that already, the Government had been involved in several initiatives, which would further propel Jamaica’s energy sector.
In his remarks, Chairman of NPMC, Lawford Dupres expressed pleasure at the renewal of the contract, noting that the relationship would be a reciprocal one, with NPMC learning from PETCOM and vice versa.He said that PETCOM stood to benefit further in the long run as NPMC planned to modernize its blending plant to take advantage of opportunities to reduce unit cost and increase throughput.
Mr. Dupres said he hoped that both companies would dialogue further on taking advantage of joint venture opportunities in the region, combining the expertise of both companies.
Like PETCOM, NPMC is responsible for marketing lubricants in Trinidad and Tobago and has been in operation for 30 years. It has been blending lubricants for some 25 years.

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