The Chamber of Oil Marketing Companies (COMAC) has begun behind-the-scenes efforts to contain the fallout from Star Oil Limited’s abrupt decision to freeze its membership, as pressure mounts within the downstream petroleum sector.
The Chamber’s leadership has now moved to activate internal mechanisms aimed at pulling Star Oil back to the table, signalling concern over the growing perception of cracks within the industry’s umbrella body.
In an interview on Citi TV on Wednesday, January 21, COMAC Chief Executive Officer, Dr Riverson Oppong, confirmed that steps were already underway to re-establish communication with the company, insisting that disagreement does not amount to hostility.
“We will have an engagement with Star Oil. There are procedures the Board Chairman has put in place to engage Star Oil to reconsider,” he said, adding that managing the interests of more than 200 oil marketing companies requires balancing differing perspectives while safeguarding the collective interest of the industry.
Dr Oppong admitted that sharp differences are inevitable in an association as broad as COMAC but cautioned against framing internal disputes as conflict between enemies. “Our interests might be at loggerheads, but that does not make us enemies,” he stated.
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Dr Oppong himself expressed disappointment over Star Oil’s decision to suspend its participation instead of pushing its concerns through the Chamber’s established decision-making structures.
“I personally wish Star Oil had remained within the Chamber to represent its interests at the board so that we could all make a decision together,” he added.
Star Oil Limited’s announcement that it was suspending its COMAC membership with immediate effect has sent ripples across the downstream petroleum industry, raising questions about internal cohesion and the effectiveness of industry-level consensus building.
