Chairman of National Petroleum Marketing Company Ltd (NP), Neil Gosine said despite competition, the company has been making a profit for the past three years.In his review of the performance of NP's board of directors after four years at the state enterprise, Gosine said improvements in processes, procedures, the organisation structure, management and systems of reporting and accountabiity resulted in a profit of $50 million in 2010.
He said NP's reorganisation into new business centres and increasing emphasis on lubricants, which provide a bigger profit margin than gas automotive fuels, together with investment in new service stations and upgrading its Quikshoppe chain, were central to the company's resurgence, present performance and planned growth.
NP is opening up opportunities in Panama and Haiti to establish its brand through independent service stations. It is looking at the Jamaica market, supplying fuel to the Dominican Republic and even following in the footsteps of the Venezuelan company, CITGO, and venturing into the US.
Gosine, who shared his vision for the company, said: "I want NP to be a household name in the Caribbean and Latin America. I want us to be a profitable business earning foreign exchange and flying the Trinidad and Tobago flag proudly in foreign fields."