ENERGY SOLUTIONS
TBY talks to Mauricio Pulido, CEO of GB Energy (Texaco), on the company's role in supplying energy, developing human capital, and investing in the local economy.
BIOGRAPHY
Mauricio Pulido has more than 25 years of executive experience working in Jamaica, the US, Colombia, and Venezuela with Chevron Corporation for downstream activities such as portfolio management, retail, consumer and industrial, LPG, and lubricants. He holds a degree in industrial engineering from Los Andes University of Colombia.How has the company grown since GB Energy acquired Texaco's operations in Jamaica?
When we took over at the end of 2012, we were number three on the retail side; now we are number one. These five years have been a great experience for us. We have been able to grow in many aspects. We started with 52 service stations and are now supplying 67, including a few stations for airports. Previously, we had 2% market share, selling 1.2 million gallons of fuel per year to airlines. In 2016, we closed with 30 million gallons and 46% market share. It has fluctuated a little because airlines renew their contracts every year, though we still retain a high percentage of the market. Furthermore, we have started to supply to many of the industries as a result of our relationships and reputation for being a reliable supplier of energy. We are now entering into new businesses, for example selling asphalt to the Chinese as well as the LPG business.
How do you evaluate your contribution to the Jamaican economy?
From the beginning, we decided to work with and purchase from the refinery here to help contribute to the growth of the country. We are currently Petrojam's largest customer. We also have a trading division based in Panama, and can supply fuel to Petrojam, helping with its import needs. In terms of employment, we truly support local talent. We instill a high level of confidence in our people, and they have developed a great deal of trust in the future. At the moment, we have 49 direct employees between this office and the terminal facilities. We have around 60 contractors in the stations and 24 contractors in the aviation facilities. If we include the total number of people working in service stations, our employees total more than 1,000. We are also active participants in local organizations and chambers. We are heavily involved in JAMPRO and the Private Sector Organization of Jamaica (PSOJ), where I sit on the energy committee and the membership committee to assist the interaction of the private sector with the government. Our goal at PSOJ is to help companies and SMEs grow. I also sit on the board of American Chamber of Commerce in Jamaica, and we actively work with the Jamaica Chamber of Commerce.
How has your partnership with New Leaf enabled GB Energy to reduce its energy costs?
At service stations, we consume a large amount of electricity on illumination, walk-in coolers, and air conditioning. We partnered with New Leaf Power to install solar systems in our service stations, and that has halved our electricity bills. The beauty is that whatever excess we produce can be sold back to the grid for credit; there are savings all around.
What challenges and opportunities do you see for gasoline retailers and the petroleum industry in Jamaica?
Next year, the Texaco brand will celebrate its 100th anniversary in Jamaica, and most of our retailers have been there for over 20 years. In the past, their mentality was that the oil major had to do everything, and they did not have to do much. We have changed all of that. My retailers are being trained now in entrepreneurship and leadership and are looking at business in a different way. My preferred retailer is the one who comes to me and says he wants to invest. We go 50/50, and they put money into their business. We can then maximize the use of the money to be more effective. As for challenges, we need to continue supporting the refinery here and help it grow; otherwise, it will become a storage facility. The challenge is for it to come up with the upgrades it needs to continue functioning as a refinery so we can support it.
ENERGY SOLUTIONS
TABLE OF CONTENTS
Interview
Most Honourable Andrew Holness, Prime Minister, Jamaica
TBY talks to the Most Honourable Andrew Holness, Prime Minister of Jamaica, on efforts to foster sustainable and inclusive growth, the main challenges ahead for the nation, and its key successes in improving the business environment.
read articleInterview
Diane Edwards, President, Trade & Investment Jamaica (JAMPRO)
TBY talks to Diane Edwards, President of Trade & Investment Jamaica (JAMPRO), on making investments throughout the whole value chain, becoming a regional distribution hub, and boosting niche agricultural output.
read articleInterview
Courtney O. Campbell, President & CEO, Victoria Mutual
TBY talks to Courtney O. Campbell, President & CEO of Victoria Mutual, on the origins of financial inclusion in Jamaica, helping people get a start on their property journey, and assisting young businesses to exploit a positive business environment.
read articleInterview
Raymond Walker, Founder, Chairman & CEO , Caribbean Assurance Brokers Ltd. (CAB)
TBY talks to Raymond Walker, Founder, Chairman & CEO of Caribbean Assurance Brokers Ltd. (CAB), on fighting for its clients, using environmentally sound methods to drive down costs, and continuously driving innovation.
read articleInterview
Emanuel DaRosa,, President & CEO, Jamaica Public Services (JPS)
TBY talks to Emanuel DaRosa, President & CEO of Jamaica Public Services (JPS), on pursuing common goals in the best possible way, utilizing Jamaica's most abundant natural resources, and satisfying half of Jamaica's energy needs through renewables.
read articleInterview
Winston Watson, Group General Manager, Petroleum Corporation of Jamaica (PCJ)
TBY talks to Winston Watson, Group General Manager of Petroleum Corporation of Jamaica (PCJ), on keeping a hand in both green and black energy, helping the government reach its 2030 Energy Vision targets, and educating people on the importance of conservation.
read articleFocus: LNG Investments
Light My Fire Jamaica
The Jamaican government is pushing private investment in liquefied natural gas (LNG) to provide cheaper and cleaner energy to households and businesses. Through partnerships with local and international companies, New Fortress Energy is leading the way to ignite this sector.
read articleInterview
Gordon Shirley, President & CEO, Port Authority of Jamaica (PAJ)
TBY talks to Gordon Shirley, President & CEO of the Port Authority of Jamaica (PAJ), on the country's developing role as a logistics hub, attracting more cruise ships, and his outlook for the economy at large.
read articleInterview
Fritz Pinnock, President, Caribbean Maritime University
TBY talks to Fritz Pinnock, President of Caribbean Maritime University, on capitalizing on the rising power of the global south, customizing goods before they reach the final consumer, and leveraging Jamaica's geostrategic location to create added value.
read articleInterview
Winston Adams, JP, Executive Chairman, University of the Commonwealth Caribbean (UCC)
TBY talks to Winston Adams, JP, Executive Chairman of the University of the Commonwealth Caribbean (UCC), on the university's illustrious history, its upcoming strategies, and Caribbean Knowledge City.
read articleInterview
Michael Williams, Acting Executive Director , Mona School of Business and Management
TBY talks to Michael Williams, Acting Executive Director of Mona School of Business and Management, on maintaining quality across its programs, its achievements in the Caribbean, and the school's research-based approach.
read articleFocus: Downtown Kingston Revitalization
Drinking from the Fountain of Youth
Although the subject of much talk, downtown Kingston has been relatively neglected for many years while surrounding areas of the city attracted more real estate developments. A series of public and private investments indicate that the trend is finally reversing.
read articleInterview
Timothée F. Delebarre, Country Manager, VINCI Construction Grands Projets (VCGP)
TBY talks to Timothée F. Delebarre, Country Manager of VINCI Construction Grands Projets (VCGP), on diversifying their business lines, expanding Kingston's Port, and developing innovative financing mechanisms.
read articleInterview
Dittie Guise, General Manager, Montego Bay Convention Centre (MBCC)
TBY talks to the late Dittie Guise, General Manager of Montego Bay Convention Centre (MBCC), on marketing the convention center, creating an integrated tourist experience, and preparing for more events and visitors.
read articleFocus: Linking Tourism
Lifting All Boats in the Rising Tide
Although significantly contributing to the economy, tourism in Jamaica suffers from an inadequate level of linkage with other sectors. The government, in partnership with private actors, is launching a number of initiatives to ensure that international tourists meet local businesses.
read articleInterview
Natalie St. Louis, Founder, CEO & Managing Director, Strategic Konnections & Management Services Limited
TBY talks to Natalie St. Louis, Founder, CEO & Managing Director of Strategic Konnections & Management Services Limited, on working with businesses to further their goals, the importance of engaging with consultants, and goals for the coming year.
read article
