The fuel business in 2010 was characterized by high acquisition prices, aggressive competition, high prevalence of smuggled fuel and low margins, the Chairman of the Guyana Oil Company, Dr Keshav Mangal, has said.
The Guyana Oil Company achieved a gross profit of $3.388 billion last year compared to $2.937 billion in 2009, a rise of 15%, according to its 2010 Annual Report laid in the National Assembly recently.
Net profit after tax was $1.422 billion
