{"id":112295,"date":"2026-01-23T03:46:00","date_gmt":"2026-01-23T03:46:00","guid":{"rendered":"https:\/\/sotnews.agency\/?p=112295"},"modified":"2026-01-23T03:46:00","modified_gmt":"2026-01-23T03:46:00","slug":"not-pushed-out-outvoted-comac-chair-on-star-oil-suspension","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=112295","title":{"rendered":"Not pushed out, outvoted \u2013 COMAC Chair on Star Oil suspension"},"content":{"rendered":"
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The Chairman of the Chamber of Oil Marketing Companies (COMAC) says Star Oil was not pushed out of the Association but was on the losing side of a majority decision on the petroleum price floor.<\/p>\n

Gabriel Kumi, speaking on Joy News\u2019 PM Express, Business Edition on Thursday, said the company\u2019s suspension followed internal disagreements, not any targeted action by the Chamber.<\/p>\n

\u201cYes, you did,\u201d he said, responding to a suggestion that the exit had been anticipated. \u201cYou are an industry boy, so maybe you had more information than we did.\u201d<\/p>\n

He stressed that Star Oil remains one of the most important players within COMAC.<\/p>\n

\u201cLet me say that Star Oil is a very key member of the Chamber,\u201d he said.<\/p>\n

The comments follow Star Oil\u2019s announcement of an indefinite suspension of its membership, citing dissatisfaction with COMAC\u2019s handling of the ongoing debate over the petroleum price floor.<\/p>\n

Mr Kumi said the Chamber acknowledged Star Oil\u2019s position but insisted that decisions must follow democratic processes.<\/p>\n

\u201cI\u2019m happy in the letter that Star wrote to us, it did admit that it respects the view of the majority,\u201d he said.<\/p>\n

He said the Chamber also respects dissenting views. \u201cWe also respect the view of the minority,\u201d he added.<\/p>\n

However, he said collective decisions cannot be stalled indefinitely. \u201cAt the end of the day, the majority decision carries the day,\u201d Mr Kumi said.<\/p>\n

He explained that the petroleum price floor policy at the centre of the dispute was not imposed arbitrarily.<\/p>\n

\u201cThis floor pricing issue, the idea was pushed forward by the Chamber about two years ago with the National Petroleum Authority, and it was accepted,\u201d he said.<\/p>\n

He said implementation followed, though not without challenges. \u201cAlong the line, there have been challenges with the policy, I must say,\u201d he said.<\/p>\n

According to him, those challenges triggered internal debate and dissent. \u201cAnd I think that is what got our member to express those things,\u201d he said.<\/p>\n

He said those expressions eventually led to Star Oil\u2019s decision.<\/p>\n

\u201cAnd unfortunately, those expressions find their way in them, saying that they want to be suspended from the Chamber,\u201d he said.<\/p>\n

Mr Kumi said COMAC accepted the decision without rancour. \u201cBut we respect that decision of Star Oil,\u201d he said.<\/p>\n

Still, he maintained that the Chamber\u2019s position remains unchanged.<\/p>\n

\u201cAt the end of the day, the majority decision is that, at the moment, as it stands, the floor pricing policy is good for the industry,\u201d he said.<\/p>\n

He said the policy serves a protective function. \u201cIt protects the industry and is the way to go,\u201d he added.<\/p>\n

Responding to concerns that larger companies may have dominated the decision-making process, Mr Kumi rejected that claim.<\/p>\n

\u201cAt a Chamber level, at the board level, everybody has one vote,\u201d he said.<\/p>\n

He said size does not translate into influence. \u201cNo matter how big you are, you still have one vote,\u201d he said.<\/p>\n

He stressed that without majority backing, the policy would not have moved forward. \u201cIf it wasn\u2019t the majority decision, we couldn\u2019t push it,\u201d he said.<\/p>\n

He added that unpopular ideas are routinely dropped.<\/p>\n

\u201cThere are a lot of decisions that we have discussed, but if we find that it\u2019s not popular, we shelve it,\u201d he said.<\/p>\n

He said the petroleum price floor did not fall into that category.<\/p>\n

\u201cBut this one was a popular majority decision, and it\u2019s still the popular decision amongst the Chamber members,\u201d Mr Kumi said.<\/p>\n<\/div>\n

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