Guyoil terminates services of Facilities Manager -Human Resources chief resigns

May 23, 2019 News

State-owned Guyana Oil Company (Guyoil) has terminated the services of its Facilities Manager.
The entity would have also recently lost its Human Resources Manager who resigned for personal reasons.

Services Terminated: Brion Singh

Responding to questions this week, Guyoil’s Board of Directors confirmed that Brion Singh, the Facilities Manager, had his services terminated.
However, the company would not confirm that that he was let go for allegedly approving a number of contracts not sanctioned by the Board of Directors.
“Mr. Brion Singh’s termination was in accordance with the provisions of his contract of employment. The reason alluded to in your question was never officially communicated to Mr. Singh or anyone else,” Guyoil said.
The company said that it has not received any lawyer’s letter from the former manager challenging his termination.
Meanwhile, the company denied that its Human Resources Manager has resigned following investigations.
“The Human Resources Manager was at no time under any investigation. He stated “personal family commitment” as his reason for resignation,” the statement said.
Responding to questions that the company, which runs a string of service stations across the coast, has not been meeting targets, the board said that Guyoil is the nation’s largest petroleum distributor.
“…And has been a net contributor to our economy for decades. The company remains profitable and viable in a very competitive market.”
Questioned also about accusations earlier this week that Guyoil’s human resources practices would have seen persons without the requisite qualifications being hired, the board denied anything is amiss.
“Guyoil is a proud equal opportunity employer. Our recruitment practices are strictly guided by the company’s hiring policy. We are unaware of any cases where persons hired for a position lacked the prerequisite qualifications or equivalent experience.”
Since coming to Government in 2015, the Coalition has made sweeping board and management changes at its agencies and companies.
In 2017, the state company reported that it has lost ground in its gasoline, thanks to among other things, smuggling.
In its 2017 Annual Report, it was reported that net profit has decreased almost 29 percent.
GuyOil competes mainly with SOL and Rubis.
The company’s business involves the importation, storage, distribution and marketing of motor gasoline, gasoil, kerosene, fuel oil, and Castrol lubricants.
The products are distributed through the large network in the petroleum business in Guyana, comprising 52 dealer-owned, dealer operated, and eight company-owned, company-operated service stations.
Its three terminals are at Adventure, Region Two; Providence, East Bank Demerara and Heathburn, Berbice.

According to the chairman, Mark Bender’s 2017 report, “Despite the increasing manifestation of smuggled/illegal fuel and the increased number of licensed private importers, GuyOil maintained its dominant position in the Guyana market and continued to be the leader in stabilizing fuel prices, to the benefit of the Guyanese consuming public and industries.”
According to the sales revenues, in 2017 sales were $35.259B, compared to $31.939B in 2016, an increase of $3.32B or 10.39%.
Cost of sales was $30.465B compared to $25.889B in 2016, an increase of $4.576B or 17.68 percent.
With regards to the sales volumes, GuyOil managed to reach 1,309,093 barrels compared to 1,287,211 barrels in 2016, an increase of 21,882 barrels or 1.7 %.