The Ghana Energy Award has decorated Goenergy Company Limited (Goenergy) subsidiary of Ghana Oil Company Limited (GOIL) as the Best Bulk Distribution Company of the Year 2017.
The Ghana Energy Awards which recognizes outstanding contributions and achievements of industry players also adjudged GOIL as Oil Marketing Company (OMCs) Brand of the Year whilst Mr Patrick Akpe Kwame Akorli, Group Chief Executive Officer of GOIL was also declared as the Petroleum CEO of the Year.
GOENERGY is credited by industry players for deflating cartels in the downstream petroleum sector saving the country from artificial fuel shortages. Ghana has not experienced any fuel shortage since Goenergy took control of the Bulk Distribution sector in September 2014 serving major OMCs in the country.
The National Petroleum Authority (NPA) statistics based on the total number of products distributed across the entire industry indicated that within the top seven Bulk Distribution Companies (BDCs) Goenergy controlled 22.14 percent of the market shares in 2016 up from 19.60 percent in 2015.
Chief Operating Officer of Goenergy - Gymafi Amanquah, told the Communication for Development and Advocacy Consult (CDA Consult) in an interview at the GOIL 2017 Long Service Awards and End of Year Party that the company’s objective is to continue to maintain dominance and increase its market share in order to save Ghanaians from unnecessary and artificial fuel shortages which was the order of the day in the past.
Mr Amanquah explained that the Board of Directors and Management of GOIL took a pragmatic action by setting up Goenergy Company Limited in February 2014 as Bulk Distribution Company and a wholly-owned subsidiary of GOIL.
Mr Amentor Aziakor, Goenergy Operations and Marketing Manager noted that the company’s business operations had grown substantially and currently it is the major supplier of Gasoline, Gasoil, Marine Gasoil and LPG to GOIL and other OMCs and BDCs in the country.
Mr Akorli described the annual GOIL awards and dinner night as a unique opportunity to reconnect, unwinds and de-stress with co-workers, former staffs and stakeholders.
He noted that although significant progress has been made in the economic outlook of the country, “this has not reflected in the fortunes of the downstream petroleum industry. The downstream sector experienced a 10 percent drop in volumes due mainly to illegal activities of Petroleum Black Market dealers who smuggle the products in a bid to evade tax.
“This notwithstanding, GOIL has experienced a marginal growth and remains the biggest OMC in the country. Although it is difficult to rise to the top, it is more difficult to remain up there…the Competition is still stiff in the downstream petroleum sector, therefore GOIL cannot afford to rest”.