Ghana Oil Company Limited (GOIL), the nation’s foremost indigenous oil marketing company has assured the investor community as well as shareholders of positive prospects of the company in the next five years.
Mr Patrick Akpe Kwame Akorli, GOIL Group Chief Executive Officer told CDA Consult in an interview that the company has undertaken huge investment in the retail sector, which will continue to yield dividend for investors.
The investment focuses on the roll-out of new service stations, face-lifting of existing ones, which are all geared towards maintaining a leading role in the downstream sector.
He said in addition to expanding through the retail sector, “GOIL is also expanding to other areas especially the bitumen and bunkering sectors. We now have a 13.5 Million Litre Capacity Marine Gas Oil Storage facility at the Takoradi Habour to meet anticipated demand as a result of the expansion of the habour”.
Mr Akorli who is also known as Togbe Adza-Nye IV, Dutorfia of Ziavi in the Volta Region noted that with the completion of the MGO, which will serve as the hub o bunkering activities alone the coast, “GOIL is systematically expanding its network.
“This will bring revenue and position GOIL as a global player in the bunkering business, which will be to the advantage of the investor community, shareholders and the nation”.
He assured customers and the general public that the company will continue to deliver quality products and services that meet customer satisfaction.
Mr Akorli explained that GOIL over the past decade has recorded key milestones which have resulted in several accomplishments.
He said the first significant step was the restructuring of GOIL from state-owned into a public-listed entity. Through the visionary leadership of the Board of Directors, Management and the commitment of workers, GOIL is listed on the Ghana Stock Exchange.
Mr Akorli who is also GOIL Managing Director said as part of GOIL’s strategy in 2008 to boost its market base, the company secured the contract to supply fuel for the construction of the Bui Dam.
The GOIL Group CEO said in 2009 the downstream petroleum sector witness heightened competition as the number of OMCs increased, “GOIL responded to the competition with the introduction of two differentiated products-Diesel XP and Super XP.
“In the same year GOIL’s efforts to enter into the Aviation Industry was crystallized with the setup of GOIL Aviation. We also took advantage of the oil find and started providing services for the oil and gas Exploration and Production companies, supplying Marine Gasoil and JET A1 for helicopters to the Oil Rig”.
He said between 2010 and 2012, GOIL underwent a transformation process aimed at changing its logo, station outlook and most importantly the corporate culture which was dubbed: “Good Energy comes with a smile”.
Mr Akorli said GOIL believes in the potential of the indigenous Ghanaian and as company; “we will continue to showcase the ability of local entrepreneurs’ capacity to contribute to the building of this nation.
“Ghanaians should also reciprocate and support local companies by patronizing our products and services. This is the only way we can empower local companies to meet the competition being offered by the multinationals.
“Ghanaians must take firm control of the economy. And I challenge local leaders to exhibit high sense of patriotism and commit to building Ghana”.
GOIL’s current Management Team is headed by Mr. Akorli Group CEO and Managing Director; Mr. Gyamfi Amanquah, Chief Operating Officer, Goenergy; and Mr. Alexander Josiah Adzew, Chief Operating Officer, GOIL.
Others are: Mr. Cyril Opon, Head, Administration and Human Resource;
Mr. Erasmus Ofori Sarkwa, Head, Finance; Mr. Benjamin Torkornoo, Head, Operations; Mr. Anthony Twumasi, Head, Research, Planning and Information Technology; and Mr. Marcus Deo Dake, Head, Fuels Marketing.
The rest are: Ms. Nana Ama Kusi-Appouh, Solicitor/Secretary; Mr. Kofi Ansah-Otoo, Chief Internal Auditor; Mr. Martin Olu-Davies, Head, Health, Safety, Security & Environment; Mr Benjamin Ocansey, Head, Corporate Affairs; and Mr. John Botchway Tagoe, Head, Technical and Special Products.
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Source: CDA Consult