Star Oil Limited has announced the immediate suspension of its membership with the Chamber of Oil Marketing Companies (COMAC), as disclosed in a statement issued on Wednesday, January 21, 2026.
The company emphasised that this indefinite suspension was not a decision taken lightly. Historically, Star Oil has been a committed participant in COMAC’s activities and remains the largest financial contributor to the Chamber, supporting its operations and advocacy efforts over the years.
The company stated that its membership was predicated on the belief that COMAC would fairly represent the collective interests of its members while allowing for divergent but well-intentioned views on policy and regulatory matters.
However, recent developments have prompted a reassessment of this belief. Despite its significant contributions, Star Oil’s position on certain matters has not been adequately acknowledged or fairly communicated by COMAC, particularly during recent media engagements by the Chamber’s Chief Executive.
The company noted that the failure to clearly explain the rationale behind its position has led to damaging public perceptions, suggesting that its advocacy is driven by anti-competitive intentions or illicit motives, which it views as troubling, unfair, and harmful to its reputation.
Star Oil reiterated its opposition to the price floor, arguing that it is grounded in economic and market principles, and that the policy distorts market signals by preventing the timely transmission of international product prices and foreign exchange movements into local pricing at the oil marketing company level.
“In light of the above. Star Oil believes that its continued membership of COMAC under the current circumstances exposes the company to reputational risk without offering a fair platform for its views to he represented by the Chamber.
“We therefore consider it prudent to suspend our membership until such a time that the Chamber demonstrates a clear commitment to balanced representation and fair communication of divergent member positions,” the statement said.
