WIOC seeks and receives tonnage-fee concessions from Cabinet in order to improve its more profitable storage sector

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Gregory Georges / CEO/ WIOC

The West Indies Oil Company Ltd. (WIOC) has sought concessions
from the Government in order to modernize its operations. The
principal managers of the fuel company met with the Cabinet on
June 21 and put forward its proposal to the Government.

WIOC reportedly has two sources of revenue – selling petroleum
distillates and offering storage services.

Since revenues in the storage services sector are greater than in the
sale of distillates, WIOC reportedly is eager to improve on and
expand its storage capabilities.  Accordingly, the Cabinet has agreed
to provide the concessions the company seeks.

The Government reportedly will lower the tonnage fees over a
period of 24 months to enable WIOC to retool its storage facilities

and improve its discharge of fuel to the ships that transport
petroleum products, this week’s Cabinet Notes say.

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4 COMMENTS

  1. WOW!!! TALK ABOUT ONE HAND CLAPPING ANOTHER. GOVERNMENT COLLECTING A TAX( CONSUMPTION TAX) THAT WAS REPLEALED SINCE 2007 WHEN THE ABST WAS INTRODUCED AND YOU GETTING TONNAGE DUES WAIVED. EVERYONE MAKING MONEY ON THE BACKS OF THE POOR PEOPLE.
    FOR THOSE OF YOU WHO ARE WONDERING WHAT I AM TALKING ABOUT, HERE IT IS. THE CONSUMPTION TAX THAT IS BEEN CHARGE ON GASOLINE AND DIESEL WAS REPLEALED BY THE PARLIAMENT IN 2007. THE GOVERNMENT THEN ENTERED INTO A BILATERAL AGREEMENT WITH WIOC TO CHARGE OR LEVIED THIS REPLEALED TAX ON THE NON-READING POPULACE….A MOST ILLEGAL ACT.

  2. Are we as a buying public of your products.Going to see a cost savings in our pockets from buying your goods.After you were given concessions by the Administration with our monies.

  3. The shareholders will be pocketing more money and by now,we should know who is one of the major partners in the business. I wouldn’t be surprised if he initiated this move.

    • The Government of Antigua and Barbuda is the biggest shareholder. Didn’t you know that? Not Gaston Browne. The check for the dividend goes into the Treasury, so that we can pay civil servants and fix our roads and clinics. Things that government has to do without having to raise taxes. Or would you prefer they raise taxes?

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