Ghana: GOIL seeks to dominate downstream market
Ghana Oil Company Limited (GOIL) has set out a roadmap for local Oil Marketing Companies (OMCs) to dominate the downstream sector in 2017.
The main investment of the GOIL Indigenous Industrial Revolution roadmap will be the construction of a 13.5 million litre Marine Gas Oil tank at the Takoradi harbour, reports Ghana Business News.
“We will also start the actual construction of a new bitumen depot at Tema. Pursue visible branding strategy with more vigor and continuously improve GOIL’s communication strategy by engaging the media more,” said Patrick Kwame Apke Akorli, GOIL Group Chief Executive Officer.
At its forecourts, GOIL will push its quality standards and roll-out a competitive pricing strategy to ensure downstream dominance, according to the company.
GOIL remains the biggest OMC in the Ghana in terms of both market share (17.5%) and number of stations.
The Government of Ghana in 1974 acquired the shares of AGIP SPA and Hydrocarbons International Holdings in AGIP Ghana Company Limited and by a special resolution in 1976 changed the name of the company to Ghana Oil Company Limited. In 2007, the company became public.
