Ghana Oil Company

What Ghana Oil Company does

GOIL PLC is Ghana's leading indigenous oil marketing company (OMC), originally established in June 1960 as the marketing outfit of AGIP PETROLI and fully nationalized by the Government of Ghana in 1974. Listed on the Ghana Stock Exchange since 2007 under ticker GOIL, the company operates an integrated downstream petroleum platform spanning fuel retailing (Super XP RON 91, Super XP 95 RON 95, Diesel XP), lubricants, LPG, bitumen, aviation fuel, and marine bunkering, with over 440 service stations and 181+ lube bays distributed across eight demarcated zones that cover every region of Ghana. The customer base includes the Ghana Armed Forces (aviation and naval bunkering), Ghana Police Service, State Transport Company, the Ghana Private Road Transport Union, Trust Logistics, Graphic Communications Group, individual motorists, mining operators, and other OMCs served through its GOEnergy BDC subsidiary.

The company's technology stack features proprietary XP3 additive technology used in Super XP fuels, an EMV-encrypted GOCard prepaid fleet payment system with a GOMoneyApp mobile companion, polymer-modified bitumen production using Styrene-Butadiene-Styrene at the GOBitumen terminal in Tema, and bitumen emulsion technology produced via colloid mill processing. Operations are backed by triple ISO certification (ISO 9001:2015, ISO 14001:2015, ISO 45001:2018) and integrated payment acceptance including VISA, Mastercard, mobile money, and GHQR codes. Three subsidiaries extend the value chain: GOEnergy (wholly-owned Bulk Distribution Company established 2014), GOBitumen (joint venture with Société Multinationale de Bitumes of Côte d'Ivoire), and GOIL Upstream (wholly-owned, holding an 85% participating interest in the Deep Water Cape Three Points block). GOIL additionally trades under sub-brands Super XP, GOCard, and GOMoneyApp.

GOIL generates revenue primarily through transactional sale of petroleum fuels at per-litre retail pricing (Super XP GH¢13.87/litre, Super XP 95 GH¢16.87/litre, Diesel XP GH¢15.95/litre as of June 2026), complemented by lubricants, LPG (including Auto LPG), aviation fuel, bunkering, bitumen products, and GOCard fleet services. Go-to-market is hybrid: a direct retail network of company-owned and dealer-operated service stations is paired with corporate and institutional direct sales (GOCard fleet management, GH¢50/GH¢100 fuel coupons, dedicated supply contracts). The FY2025 net profit after tax reached GH¢90.67 million, up 7.05% versus GH¢84.70 million in 2024, against a backdrop of revenue pressure from prevailing market conditions.

Name

Ghana Oil Company

Legal name

GOIL PLC

Website

https://goil.com.gh

Company type

Public

Founded year

1960

Operating status

Operating

Headcount range

501–1,000 employees

Short description

GOIL PLC is Ghana's leading indigenous oil marketing company, operating over 440 service stations nationwide across fuel retailing, lubricants, LPG, bitumen, aviation, and bunkering. It serves consumers, transport unions, government agencies, and corporate fleets with integrated payment and fleet management solutions.

Ownership category

akta.pro rank

Product category

Petroleum Marketing & Fuel Retailing

NAICS

Fuel Dealers (457210), Petroleum and Petroleum Products Merchant Wholesalers (4247), Petroleum and Coal Products Manufacturing (324), Petroleum Lubricating Oil and Grease Manufacturing (324191), Crude Petroleum Extraction (21112)

SIC

Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172), Crude Petroleum & Natural Gas (1311), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Retail Service Station Operations (Company-Owned & Dealer-Operated) (EUALAIAA)

akta.pro secondary industries

Convenience Retail & Foodservice at Forecourts (C-Store/QSR) (EUALAIAE), Branded Fuels Wholesaling & Jobber Distribution (EUALAIAB), Commercial & Fleet Fueling (Cardlock, On-Site Tanks, Bulk Delivery) (EUALAIAD), Fuel Pricing, Loyalty & Payments Platforms (POS, Mobile Pay, Fleet Cards, Loyalty Programs) (EUALAIAK)

Keywords

• Fuel retailing
• Petroleum marketing
• Lubricant distribution
• LPG distribution
• Bitumen production

Headquarters

HQ city

Accra

HQ country

Ghana

HQ region

Africa

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Marketing or Sales, Others

Revenue model

1. Fuel Retailing: Primary revenue stream from retail sale of petroleum fuels through over 440 service stations nationwide. Products include Super XP (RON 91 economy fuel), Super XP 95 (premium RON 95), and Diesel XP. Sales volumes reached 365.6 million litres in first four months of 2026.
2. Lubricants: Sale of premium lubricants including synthetic engine oils (0W-20, 0W-30, 5W-20, 5W-30, 5W-40), transmission fluids (ATF II, ATF III, Dexron II), brake fluids (DOT 3, DOT 4), and coolant solutions. Products endorsed by leading OEMs.
3. LPG (Liquefied Petroleum Gas): Domestic LPG distribution and Auto LPG through service stations. Ghana consumption stood at 340 million kg in 2024. GOIL operates LPG cylinder recirculation plants in Accra and Tema with plans to add 12,000 MT storage capacity.
4. Bitumen Products: Production and distribution of bitumen products including AC 10, AC 20, Polymer Modified Bitumen (PMB), and Bitumen Emulsions through GOBitumen subsidiary joint venture with Société Multinationale de Bitumes (SMB), Côte d'Ivoire.
5. Aviation Fuel: Supply of Jet fuel to Kotoka International Airport, Takoradi Airforce Base, Kumasi Airport, and through strategic partners at airports globally.
6. Bunkering Services: Marine gas oil supply for ships and naval vessels including Ghana Armed Forces naval fleet and commercial shipping.
7. Bond Issuance: Authorized to raise up to GH¢1 billion from the bond market to support strategic growth agenda including storage capacity expansion and debt restructuring.

Pricing tiers

Go-to-market motion3 records

Distribution channels10 records

Marketing channels11 records

Core offering

Ghana Oil Company (GOIL PLC) is Ghana's leading indigenous Oil Marketing Company, operating the country's largest petroleum retail network of 440+ service stations across eight geographic zones. The company markets and distributes fuels (Super XP, Super XP 95, Diesel XP), lubricants, LPG, bitumen, aviation fuel, and bunkering services, supported by digital payment solutions (GOCard, GOMoneyApp) and three subsidiaries covering bulk distribution (GOEnergy), bitumen production (GOBitumen), and upstream exploration (GOIL Upstream).

Product overview

GOIL PLC is Ghana's leading indigenous Oil Marketing Company (OMC) operating a diversified petroleum and energy portfolio across downstream, midstream, and upstream sectors. The company functions as an integrated energy provider with a platform-plus-services model: its core fuel retailing network (440+ service stations) forms the primary platform, supported by a comprehensive suite of add-on products including the GOCard and GOMoneyApp digital payment solutions, fuel coupons, and the GO shop retail convenience stores. The product portfolio spans premium fuels (Super XP economy and Super XP 95 premium gasoline, Diesel XP), lubricants (full synthetic and conventional grades), LPG (domestic and Autogas), aviation fuel, marine bunkering, and industrial bitumen products. Three wholly-owned subsidiaries extend the value chain: GOEnergy operates bulk distribution, GOBitumen produces polymer-modified bitumen for road construction, and GOIL Upstream explores deepwater petroleum resources. The company maintains eight regional marketing zones covering all of Ghana.

Differentiator

Problem solved

Functional benefit

Brands

• Super XP: Premium quality fuel with additives (Super XP RON 95 and Diesel XP)
• GOCard
• GOMoney App

Products and services

• GOCard Electronic prepaid card system with EMV-encrypted chip technology enabling fuel purchases for individuals and fleet operators. Allows monitoring of fuel consumption, eliminates cash handling, and can be tailored with usage limits for corporate fleets.
• GOMoneyApp Mobile phone application allowing GOCard users to purchase fuel digitally without requiring the physical card present at the pump.
• Fuel Coupons Vouchers in GH₵50 and GH₵100 denominations valid for fuel purchases at any GOIL service station, sold from head office and zonal offices for organizations and transport operators.
• Super XP Economy gasoline (RON 91) additivated with XP3 formula providing engine protection, longer mileage, and environmental benefits, priced at GH₵13.87 per litre as of June 2026.
• Super XP 95 Premium high-performance gasoline (RON 95) offering superior engine performance for higher-end vehicles, priced at GH₵16.87 per litre as of June 2026.
• Diesel XP Premium diesel fuel additivated for improved engine performance, fuel efficiency, and protection, priced at GH₵15.95 per litre as of June 2026.
• LPG (Liquefied Petroleum Gas) Domestic and Auto LPG distributed through GOIL's network, including two LPG Cylinder Recirculation Plants in Accra and Tema and Autogas stations across five regions.
• GOIL Lubricants Full range of lubricant products including Super Synthetic (0W/20, 0W/30, 5W/20, 5W/30, 5W/40), Diesel Synthetic SAE 15W/40, ATF III, ATF II, Dextron II, Brake Fluids DOT 3 and DOT 4, Steering Fluid, and Radiator Coolant, endorsed by leading OEMs.
• Fuel Retailing Core petroleum retail service through GOIL's network of 440+ service stations across Ghana, offering various fuel grades, payment options, and convenience store services.
• Bunkering Marine fuel supply services for naval vessels and commercial shipping with quality-certified fuel products.
• Aviation Fuel Jet fuel supply at Kotoka International Airport, Takoradi Airforce Base, and Kumasi Airport, with global coverage through strategic partners.
• Lube Bay Over 181 professional lubricant application and vehicle maintenance service points spread across all regions and the company's eight demarcated zones in Ghana.
• Marine Gas Oil Specialized fuel product for marine vessels and maritime operations, including a 13.5 million litre MGO tank.
• Mining Diesel and Lubricants Fuel and lubricant products tailored for mining industry operations and heavy equipment maintenance.
• Bitumen Products Road construction materials including AC 10, AC 20, Polymer Modified Bitumen (PMB), and Bitumen Emulsions produced at GOBitumen's 7,500MT capacity Tema terminal in partnership with Société Multinationale de Bitumes (SMB), Côte d'Ivoire.
• Premix Fuel Specialized fuel product for fishing or marine auxiliary operations.
• Non-Fuels & Retail Convenience store and retail offerings at GOIL service stations including GO shop for snacks, beverages, and everyday items.

Quantifiable outcome

• 45.9% year-to-date sales volume growth (January-April 2026 vs 2025)
• +5 more outcomes

Named customers9 records

Segments7 records

Ideal customer profiles7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Ghana National Petroleum Corporation (GNPC)coreStrategic or Co-development Partner · 3 April 2019GNPC holds 15% Carried Interest in DWCTP block. GOIL Upstream holds 85% Participating Interest. Partnership established through Petroleum Agreement ratified by Parliament in April 2019.
• Société Multinationale de Bitumes (SMB), Côte d'IvoirecoreStrategic or Co-development PartnerJoint venture partnership for GOBitumen terminal and production plant with approximately 7,500MT capacity at Tema. SMB provides technical expertise in bitumen production including Polymer Modified Bitumen (PMB) and emulsions. GOIL holds majority interest in the joint venture.
• Planet OnecoreStrategic or Co-development PartnerUpstream joint venture partner in Deep Water Cape Three Points (DWCTP) project. Strategic discussions held for exploratory drilling campaign. Planet One provides operational support for upstream petroleum operations in the Tano Basin.
• Japan External Trade Organization (JETRO)minorStrategic or Co-development PartnerDiscussions on potential collaboration in LPG storage infrastructure expansion and Electric Vehicle (EV) charging infrastructure development. JETRO delegation led by Director-General Tsubasa Nakagawa visited GOIL headquarters.
• Ghana Armed Forces (GAF)coreStrategic or Co-development PartnerGOIL is primary fuel supplier to GAF including aviation fuel for air fleet and bunkering services for naval vessels. Long-standing partnership even during challenging periods in GOIL's history. CDS Lieutenant General William Agyapong commended GOIL for commitment to consistent supply.
• Ghana Police ServicecoreStrategic or Co-development PartnerGOIL supplies fuel to Police Service formations across all regions except some newly created regions. IGP Christian Tettoh Yohuno welcomed engagement to strengthen partnership. Discussion on fuel storage facilities in hard-to-reach areas and newly created regions.
• State Transport Company (STC)coreChannel Partner/ Reseller/ DistributorGOIL operates on-site premises and depot at STC for convenient vehicle refueling. Business relationship approximately GH¢1.4 billion per month. STC consumes about 200,000 litres monthly with GOCard improving transparency and reducing fraud.
• Ghana Private Road Transport Union (GPRTU)coreChannel Partner/ Reseller/ DistributorGPRTU is key customer and advocacy partner representing commercial transport operators. Commended GOIL for consistent supply of high-quality fuels and outstanding service delivery over more than six decades. Nana Nimako Bresiamah lauded GOIL's relationship as built on trust and shared national interest.
• Trust LogisticsminorChannel Partner/ Reseller/ DistributorCorporate logistics company consuming approximately 200,000 litres monthly. Benefited from on-site GOIL premises reducing distance for operations. Uses GOIL fuel with quality endorsement.

Scale indicators17 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Vivo Energy Ghana: Shell-licensed OMC distributing Shell-branded fuels and lubricants across Ghana through a comparable service-station footprint and LPG offering, competing head-to-head with GOIL in retail and B2B fleet segments.
• TotalEnergies Marketing Ghana: TotalEnergies' downstream fuel-marketing subsidiary in Ghana, operating a comparable nationwide retail and lubricants network with branded fuels and lubricants, directly competing with GOIL for share and government/transport customers.
• Star Oil (Lissobeth Group): Long-standing Ghanaian downstream petroleum player operating service stations and fuel distribution, overlapping with GOIL on retail fuels and B2B supply in Ghana.
• Allied Oil Ghana: Indigenous Ghanaian OMC operating retail stations and bulk petroleum distribution, with a comparable Ghana-only downstream model and competing for the same price-sensitive retail and SME customers as GOIL.
• Puma Energy Ghana: Multinational OMC with a Ghana retail and bulk-fuel presence marketing Puma-branded fuels and lubricants, competing for the same commercial/industrial and retail customers as GOIL across Ghana's eight zones.
• Engen Ghana: Engen's Ghana downstream business operates retail service stations and lubricant distribution, directly competing with GOIL for retail fuel and lubricants share in Ghana.

Others

• Société Multinationale de Bitumes (SMB): West African bitumen producer and GOIL's joint venture partner in GOBitumen Limited (Tema). Adjacent ecosystem participant enabling GOIL's polymer-modified bitumen and bitumen emulsion offerings for road construction.

Broad incumbents

• Vivo Energy plc: Africa-focused downstream group (parent of Vivo Energy Ghana) operating fuel retail, lubricants, and B2B distribution across 20+ African countries; broader incumbent to GOIL with much larger geographic portfolio.

Regional players

• Tullow Oil (Ghana operations): Upstream operator holding interests in Ghana's Jubilee and TEN fields. Relevant as a regional upstream peer to GOIL Upstream's DWCTP block participation and a benchmark for Ghana deepwater exploration economics.
• Kosmos Energy Ghana: US-listed independent E&P with deepwater Ghana blocks (e.g., Greater Tortue Ahmeyim/Mauritania-Senegal, plus prior Ghana exposure). Comparable as an upstream partner/operator benchmark against GOIL Upstream's deepwater DWCTP acreage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCS9dp1zJXvhPBSTJEK7Rvdw
• Facebookfacebook.com/GOIL.Official
• Instagraminstagram.com/goil_gh
• Xtwitter.com/GOIL_Official
• LinkedInlinkedin.com/company/ghana-oil-company-limited

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ghana Oil Company