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GOIL enters strategic partnership with Ghana Navy

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Ghana Oil Company Limited (GOIL) on Monday signed a strategic collaborative agreement with Ghana Navy for the use of berthing facilities at Sekondi Naval Base for GOIL’s bunkering operations.

The agreement signed by the Managing Director of GOIL, Mr Yaw Agyemang-Duah, and the Chief of Naval Staff, Rear Admiral M. Quarshie, will enable GOIL to provide marine gas oil timeously to its clients, particularly to the supply vessels contracted by the Exploration and Production companies working in the Cape Three Points area of the Western Region.

Speaking to the Ghana News Agency after the signing ceremony at Sekondi, Mr Agyemang-Duah said GOIL is a leader in the local bunkering fuel trading industry – providing marine gas oil and marine lubricants to ocean going vessels.

He said, “since 2004 we have acquired major stake holdings in the Ghana Bunkering Services, and acquired extensive experience in the bunkering market and has assumed a premier bunkering operation with a global footprint.

Mr Agyemang-Duah said the agreement was one of the strategic initiatives adopted by the Company to provide quality bunkering services to its clients, “thus making GOIL the preferred bunkering partner”.

He said GOIL would continue to provide quality petroleum and other energy products and services in all its branches in an ethical, healthy, safe, environmentally friendly and socially responsible manner.

Mr Agyemang-Duah noted that already GOIL had also entered into a strategic partnership with the Ghana Air Force, which enabled the company to put up a facility at the Takoradi base to provide aviation fuel to aircrafts operating in the area.

He said: “We have also entered into strategic partnership with other exploration and production companies in the Jubilee Field for the constant supply of aviation fuel.

“Now aircrafts do not need to carry a-round-trip aviation fuel from the point of departure, which impact heavily on the weight of the aircraft.”

Rear Admiral Quarshie commended GOIL for the strategic bold partnership, and expressed Ghana Navy’s pleasure for the collaboration between the two institutions.

The two institutions pledged to find other areas that could be harnessed for their mutually benefit, and to the benefit of the country.

GOIL is the leading independent oil marketing company in the country with a vision to be a world-class provider of goods and services in the petroleum and other areas of the energy industry.

Source: GNA

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  1. Fantastic opportunities for GOIL to expand its scope of operation.However, the expansion does not have propotional positive effect on dividends. We look forward to the day when the scope expansion will be in sync with dividend value.

  2. Lamptey is absolutely right and is about time private and public sector look into maximizing in all these sectors for the benefit of Ghana and it shareholders domestically.