Ghana Oil Company
This article needs to be updated.(June 2015)
|Traded as||GSE: GOIL|
|Industry||Oil and gas industry|
|Founded||14 June 1960|
|Headquarters||House. No. D659/4,|
Kojo Thompson Road,
Accra, Greater Accra, Ghana
|Patrick Akorli (CEO)|
Kwamena Bartels (Chairman)
|Owner||Government of Ghana|
GOIL was incorporated as a private limited liability company on 14 June 1960 as AGIP Ghana Company Limited with the objective of marketing petroleum products and related products particularly fuels, liquefied petroleum gas (LPG), lubricants, bitumen, and speciality products in Ghana. The shareholders were AGIP SPA of Italy and SNAM S.P.A. On 16 December 1968, SNAM S.P.A. transferred its 10% shareholding, representing 95,000 shares, to Hydrocarbons International Holdings of Zurich, Switzerland. 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. By a shareholders resolution passed on 1 August 2007 the company adopted new regulations and was converted into a public company.
On 4 June 2015, a GOIL fuel station in Accra exploded. The station had been used as a shelter for victims of the 2015 Accra floods, and the disaster was compounded by floodwaters as gas floated and spread. The death toll was at least 150 people.
The company's main business is marketing and distribution of petroleum products in Ghana. The biggest chunk of its sales comes from the sale of diesel and gasoline. The company is manned by a 10-member management team headed by the Managing Director.
These offices also serve as distribution points for the company’s products. However, the main distribution points for fuels are Liaison Office, Central Depot, and the Accra Plains Depot all within the Tema catchment area, and the Takoradi Depot.
GOIL has the largest retail network across Ghana. The company also has numerous consumer outlets throughout Ghana. The consumer outlets include companies, schools, hospitals, factories, hotels, banks and major parastatals. In addition, GOIL has a number of other retail outlets established to market premix fuel and kerosene to rural areas in Ghana. LP Gas filling plants have also been installed at some of the filling and service stations and at other locations in Ghana.
- Ghana Oil Company - Management Team. goilonline.com.
- Ghana Oil Company (GOIL) - Operations and overview. goilonline.com.
- Ghana Oil Co Ltd (GOIL.GH). reuters.com (Reuters).