Acquisition Of WIOC

Government is seeking to acquire fuel provider West Indies Oil Company.

Chief of Staff to the Prime Minister Lionel Max Hurst made the disclosure Friday, on ABS’ Good Morning Antigua Barbuda program.

He says Government currently owns 25 per cent of the company’s shares and has made a bid to purchase the remaining 75 per cent from the current shareholders.

According to the chief of staff, West Indies Oil was engaging in a practice that caused government to be at a particular disadvantage.

Prime Minister the Hon. Gaston Brown recently indicated that the West Indies Oil Company was impeding government from dropping the price at the pump, amid plunging fuel prices worldwide.

Meantime, Prime Minister Browne is leaving the island today (Friday) for Lebanon and Qatar.
Hurst, says the purpose of the trip is to seek additional scholarships and attract more investments.