The Ghana Oil Company Limited (GOIL) on Monday said it had taken a giant leap into the country’s aviation fuel industry, controlling over 30 per cent of market shares in Ghana.
“GOIL becomes the first indigenous oil marketing company to enter the field originally controlled by multi-national companies with the acquisition of shares in the Joint User Hydrant Installation (JUHI) at the Kotoka International Airport for the storage of aviation fuel.
“The effort by GOIL is a huge breakthrough for local OMCs with high economic benefit to Ghana as proceeds entirely stays in the country…we are offering customers a third force alternative,” Mr Alex Josiah Adzew, Technical and Special Products Marketing Manager stated at a press conference in Accra.
Flanked by Mr Yaw Agyemang-Duah, General Manager and Mr Cyril Opon, Corporate Affairs Manager, Mr Adzew explained that due to the highly sensitive and technical nature of the aviation field GOIL had well-trained staff to meet the demand and challenges in the industry.
He disclosed that with the anticipation of heavy aircraft traffic to Takoradi, GOIL had entered into strategic partnership with the Ghana Air Force and partners in the Jubilee Field to put up a facility at the Takoradi Air Force base to provide aviation fuel to aircraft operation in the area.
“Now aircrafts do not need to carry a-round-trip aviation fuel from point of departure which impact heavily on the weight of the aircraft, GOIL has the capacity to meet the demand,” Mr Adzew added.
Mr Agyemang-Duah said in anticipation of the economic transformation and middle-income status, GOIL had intensified efforts in penetrating into the non-fuel product market including vehicle lubricants, engine oil, Liquefied Petroleum Gas, and Bitumen market.
“We are a leader in the local bunker fuel trading industry – providing marine gas and fuel to ocean going vessels…since 2004 we have acquired major stakeholdings in the Ghana Bunker Service.
“GOIL has extensive experience in the bunkering market and through its leadership has assumed a premier bunkering operation with a global footprint. Now Ghana can proudly say she has Bunkering Experts in GOIL.
“We are very excited about joining the Bunkers International and being a key contributor in the industry, which has offered GOIL the opportunity to build a strong network in the field,” he said.
Mr Agyemang-Duah said GOIL was taking full advantage of strength, strong operations support of Bunkers International coupled with the excellent customer service and integrity to serve their customers in the marine industry.
Responding to questions, Mr Opon said the company’s expansion drive into the non-fuel products would not affect its operations in the petroleum sector.
“On the other hand, it will strengthen our financial base to improve facilities at our filing stations…we are currently undertaking strategic re-branding to meet developmental challenges,” he said.