The Ghana Oil Company Limited (GOIL), the nation’s foremost Indigenous Oil Marketing Company has for the second consecutive year, won the coveted Chartered Institute of Marketing Ghana (CIMG) Petroleum Company of the year.
GOIL has affirmed and consolidated its position as the number one Oil marketing Company in the Country.
The award which was announced at the 28th National Marketing Performance awards held in Accra, confirms the biggest indigenous marketing entity’s role also as an important player in the competitive sector.
GOIL won the award in 2015 and its MD, Patrick Apke Kwame Akorli is the immediate past CIMG Man of the Year.
Mr Akorli explained in an interview after the award that GOIL has the largest retail network of over 300 active service stations countrywide with 20 per cent of market share and has been posting impressive results, recording 58.7 per cent increase in profit after tax in 2016, a 26.95 per cent increase in turnover compared to that of 2015.
GOIL as the biggest indigenous marketing entity continues to make strides, venturing big into the bunkering sector.
He said in line with the company’s expansion drive, a 13.5m litre capacity MGO bunkering facility has recently been commissioned in Takoradi Port at a cost of $15 million.
The GOIL Group Chief Executive Officer said already, a modern 4000m3 MGO bunkering facility fitted with a filtration and coalescing unit at the Sekondi Naval Base is in operation.
“In the medium to long term GOIL wants to become a vibrant energy company with a significant foothold in West Africa”, says Mr. Patrick Akorli, MD and CEO of GOIL.
Downstream petroleum analysts says, the bunkering investments especially the Takoradi Project , are significant because they will position GOIL to benefit from the huge trade in MGO, 60 per cent of which is being done offshore, bringing in the much needed revenue to GOIL and to the state in the form of taxes.
Mr. Alex Josiah Adzew, the GOIL Chief Operating Officer, underscored the premium GOIL puts on the quality of products, explaining that this has pushed her to procure a modern mobile laboratory van to test all products at its station before sale to consumers.
He reiterated that the company will invest more resources to ensure products are always of the highest standards and quality.
GOIL is already eying the road construction sector, finalizing plans to construct a bitumen plant to serve the burgeoning industry.
Source: CDA Consult