About

HISTORY OF GOENERGY LIMITED

The downstream Oil and Gas industry was partially deregulated in 2003. The deregulation of the sector led to the proliferation of companies, including Oil marketing companies (OMCs), Bulk Distribution Companies (BDCs) and Oil trading companies (OTCs). The BDCs were formed to address supply shortfalls by TOR which has been facing serious challenges in the funding of crude oil imports. The BDCs were introduced into the downstream oil and gas industry with the aim of bringing in more petroleum products to supplement what Tema Oil Refinery (TOR) produces. TOR, the only refinery in Ghana had faced challenges in meeting the increasing demand for petroleum products. There was therefore the need for the industry to have a professional pool of BDCs that have the capacity to supply the needs of over eighty (80) Oil Marketing Companies (OMCs) in the country and still counting.

THE CASE FOR GOENERGY LIMITED

GOENERGY LIMITED

GOENERGY Limited was established in February 2014 as a Bulk Oil Distribution Company (BDC) and began operations in September 2014. It is a wholly owned subsidiary of GOIL PLC (GOIL). It was initially securing and supplying petroleum products for the sole use of GOIL.

In May 2015, GOENERGY started supplying petroleum products to selected Oil Marketing Companies (OMCs). In July 2015, all other OMCs started coming to GOENERGY to request for supply of petroleum products as the Chamber of Bulk Oil Distributors (CBOD) had collectively decided to stop importation of petroleum products into the country in retaliation to the governments aging debt owed them and also for the government’s introduction of the price deregulation policy.

Our Vision

To be a world-class provider of goods and services in the petroleum and other areas of the energy industry.

Our Mission

To source for high quality petroleum fuels, provide quick and reliable customer service, and operate a clean, safe and efficient terminals with excellent service for our customers.

Goal

Provide to GOIL PLC (GOIL) all her fuel supply needs and requirements at locations where it operates at all times and also to fulfill the fuel supply needs of other OMCs.
Establish an active supply infrastructure, network and channels that leads to competitive lower cost and ensures product availability and product quality improvement throughout the supply chain.
Provide enabling environment where the best of each employee is attained through innovations that leads to sustainable Profit for the GOIL Group and Shareholders.

Objectives

Grow our business in a sustainable environment (health, safety, environmental and quality)
Alignment with GOIL Group growth initiatives.
Identify profitable options for network improvement (i.e. supply infrastructure, primary transport).
Provide cost leadership in a strong and high-performing supply chain business in the downstream oil sector.
Lead in market innovation and prepare for a fully deregulated market.