Ghana Oil Company set to dominate downstream

The Ghana Oil Company Limited (GOIL) has set pragmatic targets to dominate the downstream oil industry to ensure that Ghanaian oil marketing companies took control of the industry. As part of the broad mechanism, GOIL has set up a GOENERGY Company Limited which is a Bulk Oil Distribution Company (BDC) with the objective of ensuring availability and stability of fuel supply in the country.

During the last quarter of last year, GOIL, through its BDC–GOENERGY in collaboration with Bulk Oil Storage and Transportation (BOST), ensured improvement of fuel supply in the country.

Patrick Akpe Kwame Akorli, the GOIL Managing Director, said the company increased its retail network with additional 14 company-owned and five venture stations.

He said: “We are focused on the vision to be a world-class provider of goods and services in the petroleum and other areas of the energy industry as our geographical spread places us first in terms of the distribution of petroleum products whilst our networks enables GOIL products to reach virtually all parts of the country.

“GOIL remains one of the forerunners in the state-owned enterprises sector and the petroleum industry in general”.

Other initiatives includes achieving International Organisation for Standardisation (ISO) 9001:2008 Certification which ensured the strengthening of GOIL’s internal control structures to guard its assets; and construction of a fuel storage tank farm at Sekondi Naval Base to boost the bunkering business.

Akorli said as part of the broader measures to ensure dominance in the downstream oil industry, GOIL was strictly enforcing a national policy of maintenance of high standards at the forecourt of its 204 stations across the country.