Minister of Energy lauds EGL’s contribution to economy


The Minister for Energy, Dr. Matthew Opoku Prempeh, has commended Engen Ghana Limited (EGL), an oil marketing firm, for the critical role it is playing in the economic and transformational agenda of the country.

According to him, the leading oil marketing company has expanded its operations, grown its market share, and stayed true to its mission of delivering quality fuels, lubricants and logistics services with efficiency and operational excellence within a culture of innovation, safety and environmental consciousness.

Dr. Opoku Prempeh said this in a speech read on his behalf by the Deputy Minister of Energy, Herbert Krapa, at the oil marketing company’s 25th anniversary launch and dinner ceremony held in Accra. He stated that last year, the petroleum industry contributed about 9.8 percent to the country’s gross domestic product, a significant increase from 7.2 percent the preceding year.

“Engen Ghana played a major role in this significant achievement. You have been a major contributor to the growth of Ghana’s petroleum downstream industry, and you have been dependable while you have done so,” he said.

The ceremony, denoting the oil marketing company’s 25 years of dynamism, resilience and sustainable growth, was graced by ministers of state, heads of public and private sector institutions, civil society organisations (CSOs), captains of industry, Engen Ghana’s staff, and the diplomatic community.

Managing Director (MD) of Engen Ghana Limited Brent Nartey, addressing the gathering, indicated that the company, since its establishment in 1998, has evolved over the years before its acquisition by Mocoh Ghana in 2019. He noted that it commenced operations with just two iconic service stations in the Greater Accra Region at a time when there were less than 20 oil marketing companies (OMCs) operating in the country.

“It has been four years since the acquisition, and we believe it is now time to reflect this change in our corporate identity. Therefore, while the Engen brand will remain, our corporate name will change after all the legal and regulatory requirements have been completed,” he said.

“Over the course of twenty-five years, we have expanded and have shrunk, we have made profits and have made losses, we have faced and continue to face many challenges within the business, the industry, and the local and global economy, but we are still here,” Nartey added.

Highlighting some of its achievements, Mr. Nartey said the company, through its environmental sustainability initiative with Coliba Ghana, continues to raise awareness to reduce plastic pollution and combat climate change, while increasing the number of plastic waste collection points at its service stations, encouraging customers to deposit their used plastics in return for rewards.

He said EGL has included three women in its seven-member management team to demonstrate its commitment to equity, adding: “We are committed to providing them with a safe and healthy working environment, as well as opportunities for professional development and advancement”.

He noted that the company remains innovative and adaptable in its approach to business by responding quickly to changing market conditions, emerging technologies and evolving customer needs, staying focused on its vision to be the desired petroleum marketing company in Ghana.

“We are growing our network steadily and strategically, aiming to not only meet today’s business and consumer demands, but also ensure that our investments meet the needs of the future,” Mr. Nartey further stated, saying his outfit is passionate to succeed.

“As we look to the future, we will continuously explore new technologies and strategies to stay ahead of the curve. A future where collaboration and partnership, combined with our core values of integrity, ownership, leadership, performance, teamwork and respect, will fuel our drive to retain our position as one of the leading and well-respected oil marketing companies,” he said.

Guy Hacking, Chief Executive Officer (CEO) of Mocoh Group, revealed that in the four years that Engen Ghana has been part of Mocoh, it has more than doubled the number of stations and tripled its volumes.

“Your constant focus on providing the best service and superior quality products to your customers and local communities is being lived through your daily interactions and was acknowledged recently, when you were awarded emerging brand of the year at the Ghana Oil and Gas Awards,” he said.

Engen Ghana Limited (EGL) is an oil marketing company fully owned by Mocoh Ghana Limited. The Mocoh Group, headquartered in Geneva – Switzerland, has been operating in Africa for 25 years and is actively involved in the trading, logistics and distribution of petroleum products across the continent.

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