The Ghana Oil Company Limited (GOIL), one of Ghana’s highly performing state agencies has come up for sharp focus due to the increasing developments it is churning out in the energy industry.
Established in 1960 as a state-owned enterprise (SOE), Goil has grown to become a vibrant company which is consistently delivering energy products in high quality.
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Currently set up in 400 communities termed as service stations, Goil has been strategically located to serve the public with quality lubricants and liquefied petrol gas.
Speaking to the Group Chairman and CEO when he took his turn on the Focus on SoE’s documentary produced by the State Interests and Governance Authority (SIGA), Lawyer Kwame Osei Prempeh said “Goil was strategically set up in both rural and urban communities to deliver cleaner energy materials to its customers”.
Details:
The Group CEO disclosed that currently, Goil has four subsidiaries namely, Go Energy, Goil Upstream, Go Bitumen and Goil Recirculation (Go Gas).
He said these subsidiaries have been working to shape Goil into its current pillar status in the energy sector
According to him, the Go Bitumen with a capacity of 7,500 MT site has positioned itself as key player in Ghana’s energy transition.
“Goil is a listed company with proper structures that enhance its plot to do well in the enery sector”, the CEO stated.
Investments and Work:
To be headquartered in a 12-storey building in Accra, the CEO said their new office which is about 90% complete would help to upscale performances and operations.
With the trade in bitumen previously unsuccessful after several attempts, Lawyer Prempeh noted that Goil had finally succeeded in producing Bitumen in high levels and quantities.
The introduction of Goil Autogas, the Group CEO explained had enabled the company to serve vehicles powered with gas, adding that people can now drive to Goil service stations and get same to buy.
This initiative, Lawyer Prempeh said has helped to eliminate the long-lasting challenge gas vehicle owners faced, adding that currently, stations at Tema in Accra and Kaase in Kumasi are offering safer and more efficient ways to supply LPG to customers.
Service Stations and Workforce:
The CEO said starting his tenure with 85 service stations in 2016, Goil currently can boast of 440 service stations across the country.
Goil, the CEO said has a staff strength of 150 as well as 2000 individual workers serving as fuel attendants, supervisors, GO merchants.
He revealed that currently, the Ghana government is supporting Goil’s effort to build on partnerships with other foreign countries including the plan of setting up branches in the Gambia and many other African countries.
Corporate Social Responsibilities:
Lawyer Prempeh said aside the normal energy business and the plan to explore for oil deposits and drilling in the future, Goil was also involved in many corporate social responsibility activities.
He noted that Goil supports universities in the areas of education initiatives and projects as well as hospitals in the area of health care and in the sporting field.
He said Goil has so far invested in projects at the Seikwa Government Hospital, Komfo Anokye Teaching Hospital and many others including scholarships to the needy but brilliant students as well as many investments carried out in communities it has operations.
Ownership:
The Group CEO said having a focus on its mandate and vision, Goil was committed to carrying out investments and operations that would enable the country to have clean energy.
He said Goil, a government agency has all manner of persons and groups sustaining it activities as shareholders.
Currently, he said the government has a 78% stake in the same with SSNIT And BOST also having shares including some individuals and citizens.
Products:
Lawyer Prempeh said on the Ghanaian market its products such as the RON 95 and Diesel XP was doing wonders.
He urged the public to see the company as their own and continue to patronise its products as it is committed to supplying clean energy products.
Commendation:
The Group CEO said the activities and operations have become smoother with SIGA coming on board as supervising authority.
He therefore commended SIGA and noted that the outfit has helped to streamline the Goil’s activities and operations across Ghana.
“The support we’ve had from SIGA has culminated in the company hitting good profit margins every year”, the Group CEO stated.
