Star Oil subsidiary SOL Energy secures provisional BIDEC licence

SOL Energy, a subsidiary of Star Oil, has secured a provisional Bulk Import, Distribution and Export Company (BIDEC) licence from Ghana’s National Petroleum Authority (NPA).

This development marks a significant step in the backwards integration of Star Oil’s business operations. By obtaining a BIDEC licence, the company moves from being an Oil Marketing Company (OMC) that relies on third-party distributors to a firm capable of importing petroleum products directly in large volumes via sea or pipeline.

Industry analysts suggest this move will provide Star Oil with greater control over the timing of supply and the landed cost of products. This increased autonomy is expected to enhance the company's ability to compete on fuel pricing at the pump and consolidate its market share within the Ghanaian petroleum sector.