The Parliamentary Select Committee on Energy has commended GOIL PLC for reclaiming its position as market leader and for its strategic contribution to Ghana’s fuel security.

The commendation came during a working visit to GOIL by the Committee as part of its oversight responsibilities. Members engaged Management on the Company’s operations, strategic investments, challenges and growth plans.

Dr Albert Tetteh Nyakotey, on behalf of the Committee, described GOIL as “Ghana’s pride”, noting that the visit was intended to deepen the Committee’s understanding of the Company’s operations and its role in supporting fuel security across the country.

Welcoming the delegation, the Group CEO & Managing Director of GOIL PLC, Mr Edward Abambire Bawa, briefed the Committee on the Company’s operations across the petroleum value chain and its strategic importance to the country.

He explained that beyond commercial considerations, GOIL continues to serve communities where purely business and profitability considerations may make operations less attractive to other Oil Marketing Companies.

During an interactive session, members sought clarification on GOIL’s downstream operations, the Cylinder Recirculation Model (CRM), GOBitumen, upstream activities, fuel pricing, local product sourcing, electric mobility, staff welfare and the Company’s growth strategy.

Mr Bawa disclosed that close to 90 percent of GOIL’s petroleum products are currently procured locally, following increased domestic refining capacity. He said the Company continues to balance competitive pricing with profitability in fulfilment of its dual responsibility to deliver value to shareholders while serving the broader public interest.

On the Cylinder Recirculation Model, he said GOIL had invested significantly in infrastructure to support its rollout, including modern cylinder-bottling plants in Tema and Kumasi. The Company is also positioning itself to expand its CRM infrastructure and cylinder distribution network nationwide once the model is fully rolled out.

The Committee was also briefed on GOBitumen, where GOIL is investing approximately US$7 million to expand storage capacity by 6,000 metric tonnes. Mr Bawa said GOBitumen’s quality control laboratory helps guarantee the quality of bitumen supplied to contractors and supports efforts to curb the use of substandard products in road construction.

On the future of mobility, the GCEO/MD disclosed that GOIL plans to install electric vehicle charging points at 15 service stations currently undergoing refurbishment, ahead of a pilot programme.

Mr Bawa also outlined some challenges confronting the Company, including volatility in international petroleum markets, financing and storage requirements, as well as outstanding receivables from petroleum products supplied to state institutions.

At the end of the engagement, the Committee commended Management for its candid and comprehensive responses and acknowledged GOIL’s return to market leadership. Members encouraged the Company to build on its gains, challenging Management to work towards attaining a minimum 25 per cent market share.

Mr Bawa thanked the Committee for the visit and welcomed continued engagement with Parliament, noting that such interactions would deepen understanding of GOIL’s operations and its strategic role in Ghana’s energy sector.

The GOIL delegation included Mr Joseph Adongo, Managing Director of GOBitumen; Mr Robert Nii Lartey, Group Chief Finance Officer; Mr Robert Kyere, Head of Corporate Affairs; Mr Emmanuel Kwame Agyiri, Head of Fuels Marketing; and Ms Millicent Ocquaye, Head of Human Resources and Administration, among other officials.