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Jun 24, 2016

APBEL Set to Enter the Retail Fuel Market

John Mencias

While the program under APBEL focuses on investing in Belize, there are plans for the company to branch out into the retail sale of fuel.  Mencias provides a breakdown of revenues generated by APBEL as well details of its proposed foray into the retail market.

 

John Mencias, Deputy Chair, APBEL

“Remember we started September 2012, so for the period September 2012 to the end of December 2012, we made profits of three hundred and thirty-three thousand, six hundred and fifty-nine U.S. dollars.  For the period of 2013, which is January to December, our profits increased to one million one hundred and eighty-eight thousand, six hundred and thirteen U.S. dollars.  For the period January to December 2013, our profits fell to five hundred and twenty thousand, five hundred and ninety-eight U.S. dollars and for 2015, our profits increased to two million, six hundred and twenty-five thousand, seven hundred and forty-three thousand dollars.  So far this year, we have, up to the end of May, we have already accrued profits of one point three, one point four million dollars.  So we are on our way to roughly repeating the same.  But it is not so much only about the profits, the idea is that the profits are to be invested in Belize and for that reason APBEL has been carefully scoping out what areas and what opportunities exist in the economy for us to invest in and you should shortly be hearing of us entering the retail sector.  Our plan is to start up a number of state-of-the-art gas stations.  I shouldn’t be giving away our secrets in front of Mr. Freddie Flores who, although he will be selling us, and don’t be frightened by the arrangement, PDVSA sells to APBEL and APBEL sells to Puma, but distributes into the market.  So we are also going to participate in the retail end of the market and Puma will now sell us.”

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