Ghana Oil Company Limited, popularly known as GOIL, is a Ghanaian oil and gas company. It was incorporated as a private limited liability company in June 1960 as AGIP Ghana Company Limited.
In 1976, the company changed its name to Ghana Company limited. The company changed its name to Ghana Oil Company Limited in 1976 subsequent to the Government of Ghana’s acquisition of the shares of AGIP SPA and Hydrocarbons Int.
GOIL adopted new regulations in its operation and was converted to public company on August 1, 2007. On the 16 of November, 2007, the company got listed on the stock exchange markets where it trades in securities.
The Government of Ghana owns 34.23% of the shares while the other 65.77% are owned by individuals and other corporate bodies.
GOIL undertook comprehensive overhaul of the company’s brand and corporate culture in 2012. This brought about revamping of existing stations as well as the expansion of the number of service stations.
The company’s main business is marketing and distribution of petroleum products in Ghana with the biggest chunk of its sales coming from the sale of diesel and gasoline. However, GOIL is actively seeking to move beyond the current frontiers to marketing and distribution of energy products in general.
The company markets a range of products which includes diesel, gasoline, premix, kerosene, bitumen, aviation fuel, liquid petroleum gas (LPG), lubricants, grease and special products such as brake fluids, mosquito coils and a multi-insect repellent called Goiltox. The company provides services for ocean vessels and as well build storage tanks and lay pipelines to transport fuel and LPG across Ghana and other countries in the sub-Sahara Africa.