3 weeks ago
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West Indies Petroleum Energy (WIP Energy) will set up fuel station outlets along Jamaica’s north and south coasts under its Thrifty Gas brand.
It received planning approvals for 11 sites granted by the National Environment and Planning Agency (NEPA) a month ago.
Charles Chambers, CEO of WIP Energy, told the Financial Gleaner that the company will focus on basic, efficient fuel operations. “They’ll be developed into some kind of fuel outlet,” Chambers said, adding that efficiency and limiting costs will be key watchwords. “They’ll be built for the efficient distribution of fuel, not a lot of frills and unnecessary expenditure on things that are outside of distribution of fuel.”
The approvals cover sites at Haughton Grove, Hanover; Cardiff Hall, St Ann; Caymanas Estate, St Catherine; Orange Bay, Hanover; Pier One, St James; Unity Hall, St James; Petersfield, Westmoreland; Black River, St Elizabeth; Junction, St Elizabeth; Caledonia Road, Manchester; Malcolm Bay, St Elizabeth; and Lucea, Hanover. Each was cleared subject to stipulated conditions.
Two additional applications – Santa Cruz, St Elizabeth, and Spanish Town Road, St Andrew – were deferred for further assessment and site inspection. A third, Norman Manley Boulevard in Westmoreland, was returned for technical review.
In a statement, WIP Energy said the approvals align with its emergency-readiness strategy, adding resilient retail capacity in parishes heavily affected by the storm season. “West Indies Petroleum has secured the necessary permits for fuel service as part of our ongoing hurricane relief response efforts and commitment to supporting the high energy needs in areas impacted by the hurricane,” the company said.
Chambers noted that work has already begun on developing the sites to meet urgent market needs in the aftermath of Hurricane Melissa. Several fuel stations in western Jamaica were destroyed by the storm, leading to long lines, shortages, and reports of price gouging.
The new outlets will operate under the Thrifty Gas brand, owned by WIP Energy, a subsidiary of West Indies Petroleum Limited (WIP). Thrifty is positioned as a value brand, offering competitive fuel prices and serving both independent dealers and direct customers. There are currently about 14 Thrifty Gas locations, mostly concentrated on Jamaica’s north coast.
NEPA confirmed to the Financial Gleaner that the approvals are for temporary storage and dispensing facilities, valid for six months from the date of issue. Each site is permitted two 12,000-litre tanks – one for diesel and one for gas. No Environmental Impact Assessment was required, given the scope and location of the facilities. The permits were considered at NEPA’s November 18, 2025 meeting.
The regulatory sprint coincides with the listing of WIP’s parent company, West Indies Petroleum Terminal Ltd (WIP Terminal), on the Jamaica Stock Exchange. WIP Terminal – incorporated in St Lucia and owner of the 740,000-barrel Port Esquivel facility – listed by introduction on the main market in December, covering 11.18 billion ordinary shares at $0.50 each. VM Wealth Management is lead broker, with Jamaica Central Securities Depository as registrar. On Tuesday morning, the company’s market capitalisation hovered at $11.1 billion after virtually doubling to $0.99.
The shareholding, prior to listing, included WIP Energy Ltd with 8.92 billion shares, or 79.84 per cent; World Energy Solutions Ltd with 2.23 billion shares, or 19.96 per cent; Director Kurt Boothe with 20 million units, or 0.18 per cent; and 102 employee shareholders holding 2.0 million units combined, or 0.02 per cent.
Audited financial year 2024 results show WIP Terminal revenue at US$8.35 million and net profit of US$1.04 million, with equity at US$27.06 million. Interim unaudited figures for 2025 were not published in the offer document.
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