New Supplier Enters the Faroese Heating Oil Market – Prices Drop Across the Industry

Sp/f Thomsen has officially entered the Faroese heating oil market, offering households and businesses a new alternative to the long-established suppliers, Magn and EFFO. The company is now delivering heating oil to the mainland, priced 75 oyru lower than the listed prices of the two major providers.

The announcement has already had an impact on the market. Just one day after news of Thomsen’s launch became public, Magn lowered its oil prices. According to Magn’s CEO, Suni Justinussen, the decision to reduce prices had been made prior to the announcement of the new competitor. EFFO has also responded, announcing a price reduction of its own.

Sp/f Thomsen has been preparing for this launch for some time and is now fully ready to supply heating oil to Faroese households. Orders can be placed directly through the website.

Thomsen has established a partnership with KRAFTA where Thomsen buys the oil from.

(Mynd 📸 Thomsen)

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