Shareholders of the West Indies Oil Company (WIOC) have given the green light to upgrade the company’s offshore facilities as part of a strategic move to establish itself as a major player in the storage industry.
CEO Gregory Georges revealed that a recent shareholders’ meeting successfully conveyed the management’s vision for the company’s future.
The plan is to enhance storage and pumping capabilities, making WIOC more competitive in the region.
To achieve this, significant investments are required, particularly in the installation of larger pipelines to increase pumping rates and align with the growing demands of the landside operations.
This expansion positions WIOC to become a dominant storage player in the Caribbean, further capitalizing on the growing importance of storage as a source of revenue.
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They say without a vision the people perish. But the same goes for a company. Without a vision the company goes bankrupt. WIOC has good visionary people at the top. Soon they will have to change their name, as oil will not be the leading product they trade in.
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