GOIL was incorporated as a private limited liability company on June 14, 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 the 16th of 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 1st August, 2007 the Company adopted new regulations and was converted into a public company.
Between the year 2010 and 2012 the Company underwent a transformation process aimed at changing its logo, station outlook, and most importantly the corporate culture which was dubbed “Good Energy comes with a Smile”. The launching of the New GOIL took place on the 18th May 2012.
Though the Company’s main business is marketing and distribution of petroleum products in Ghana, one of the tenets of the New GOIL is to move beyond the current frontiers to marketing and distribution of energy products in general. GOIL therefore, welcomes partners who are interested in helping us drive our business in this direction.
The biggest chunk of its sales comes from the sale of diesel and gasoline. The Company is manned by a twelve-member management team including the Managing Director.
The marketing arms of the company are represented by fivezonal offices namely:
- Zonal Office South (Accra)
- Zonal Office South (Tema)
- Zonal Office Middle Belt (Kumasi)
- Zonal Office West (Takoradi) and
- Zonal Office North (Tamale)
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, Takoradi Naval base and the Takoradi Depot.
GOIL has the largest retail network across the country. The company also has numerous consumer outlets throughout Ghana. The consumer outlets include companies, schools, hospitals, factories, hotels, banks and major parastatals.
In addition, there are a number of other retail outlets established to market premix fuel and kerosene to rural areas. LP Gas filling plants have also been installed at some of the filling and service stations and at other locations in the country.
Currently, GOIL’s technical partners are ENI SPA (AGIP) of Italy.