GOIL Ghana Ltd, formerly AGIP Ghana, celebrates its 50th anniversary with sources close to the company anticipating an agressive growth strategy.
GOIL changed its name in 1976, two years after the Ghanaian government acquired a majority shareholding in the company from Italy's AGIP. Thirty years later, GOIL was converted to a public company.
Established to market petroleum, gas and lubes products to the Ghanaian market, GOIL maintains market dominance in certain areas and is taking on the other big names such as Shell, Mobil and Total in markets such as bitumen and aviation products.
Meanwhile environmental agencies in the country are urging the government to "halt the menace" of oil spills which, they claim, are damaging Ghana's ecosystems. Oilwatch-Ghana, amongst others, have raised the concerns as plans are underway to develop offshore drilling in a country that is relatively new to oil exploration.