AGREEMENT SIGNED FOR SALE OF BNTCL

Barbados National Oil Company Ltd. (BNOCL) confirmed they signed an Agreement with the SOL Group for the sale of the shares of its subsidiary, Barbados National Terminal Company Limited (BNTCL).

In accordance with the agreement, BNOCL will continue to source, import, own and distribute gasoline, diesel and fuel oil to all local marketers.

Consumers will continue to access product at their regular sources as before. Prices at the pumps will only change in accordance with the price of imported products as is currently done.

Completion of the sale, which is subject to certain conditions including receipt of regulatory approvals, is anticipated to occur in the first quarter of 2017.

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