GOIL wins 2016 CIMG petroleum company of the year award

September 28, 2017
Source: thebftonline.com l Ghana
GOIL wins 2016 CIMG petroleum company of the year award

Ghana Oil Company, GOIL, has for the second consecutive year, won the coveted CIMG Petroleum Company of the year, consolidating 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 as also as an important player in the competitive sector. GOIL won the award in 2015 and its MD, Patrick Akorli is the immediate past CIMG Man of the Year.

GOIL has the largest retail network of over 300 active service stations countrywide with 20 percent of market share and has been posting impressive results, recording 58.7 percent increase in profit after tax in 2016, a 26.95 percent increase in turnover compared to that of 2015.

The biggest indigenous marketing entity continues to make strides, venturing big into the bunkering sector. 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 dollars. Already, a modern 4000m3 MGO bunkering facility fitted with a filtration and coalescing unit at the Sekondi Naval Base is in operation.

Analysts say, the bunkering investments especially the Takoradi Project , are significant because they will position GOIL to benefit from the huge trade in MGO, 60% of which is being done offshore, bringing in the much needed revenue to GOIL and to the state in the form of taxes.

The Chief Operating Officer, Mr. Alex Josiah Adzew has meanwhile 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 the serve the burgeoning industry.

 “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.