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AOMC commend Government’s response against illegal Petroleum dealers

Business and Economics
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Accra, May 17, GNA – The Association of Oil Marketing Companies (AOMCs) on Wednesday commended government for swift moves against Petroleum Black Market dealers following after a 48 hour ultimatum issued by the association to the state to bring the menace to an end.

     “Before the expiration of the 48 hours, we had series of meetings with the National Security Minister, the Vice President and other stakeholders in the industry after which a strategic action plan has been designed to deal with the Petroleum Black Market dealers.

      “We are satisfied with the action taken so far but we are monitoring with an eagle’s eyes to ensure that there is no laxity. The combat against illegal Petroleum dealers is going to be relentless and robust,” Mr Kwaku Agyemang-Duah, AOMCs Industry Coordinator told the Ghana News Agency in an interview in Accra.

      On May 2, the Association exposed the activities of illegal Petroleum dealers, outlined its impact on the economy and Oil Marketing Companies, recommended an action plan and capped it with an 48-hour ultimatum to government to bring the menace to an end.

      Mr Agyemang-Duah said in spite of government’s promised action plan, “we are not going to fold our arms and wait, we will continue to monitor and track the activities of these dubious dealers and expose them.

      He urged the public to venture information on illegal petroleum product dealers to the national security operatives.

      “We commend the media especially the Ghana News Agency, who continue to assist in the combat against illegal petroleum product dealers. We acknowledged the role of the media and urged all media practitioners and media houses to support efforts towards filtering our society,” Mr Agyemang-Duah noted.

     Meanwhile market shares statistics based on total volume of products sold by OMCs obtained by the Ghana News Agency indicated that three OMCs - Ghana Oil Company Limited (GOIL), Vivo Energy Ghana Limited and Total Petroleum Ghana Limited controlled 43.28 per cent of the market shares in 2016.

     The remaining 56.72 per cent of the market shares is controlled by over 140 OMCs.

     The market shares statistics indicated that due to the activities of illegal petroleum product dealers most of the genuine OMCs volume of litres sold flopped heavily between 2015 and 2016 fiscal year.

     The statistics indicated that GOIL’s volume of sales climbed up marginally from 697,258,570 litres in 2015 to 754,373,594 litres in 2016; Zen Petroleum Limited moved up from 129, 316,920 litres in 2015 to 164,936,680 litres in 2016; Puma Energy Limited also jumped up from 85,171,170 litres in 2015 to 130,487,280 litres in 2016; and Tel Energy Limited shot up from 64,260,090 litres in 2015 to 77,226,410 litres in 2016.

     Other marginal gainers in 2016 were: Frimps Oil Company Limited volume of sales moved up from 69,840,390 litres in 2015 to 73,547,860 litres in 2016; and Allied Oil Company Limited jumped up from 71,288,500 litres in 2015 to 73,317,500 litres in 2016. 

     The rest were: Petroleum Solutions Limited moved up from 62,514,370 litres in 2015 to 65,694,620 litres in 2016; Sephem Oil Company Limited also jumped up from 60,093,000 litres in 2015 to 63,812,000 litres in 2016; and Kan Royal Services Station and Trading Limited moved up from 22,162,490 litres in 2015 to 24,518,610 litres in 2016.  

     The statistics indicated that Vivo Energy Ghana Limited volume of sales dropped from 593,149,600 litres in 2015 to 571,103,900 litres in 2016; Total Petroleum Ghana Limited dropped from 520,589,125 litres in 2015 to 427,942,362 litres in 2016; and Star Oil Company Limited dipped from 193,462,020 litres in 2015 to 176,287,520 litres in 2016.

      Top Oil Company Limited dipped from 84, 017,960 litres in 2015 to 76,073,320 litres in 2016; Glory Oil Ghana Limited plunged from 69,631,810 litres in 2015 to 55,174,730 litres in 2016; and Union Oil Ghana Limited also followed the downward trend from 61,304,110 litres in 2015 to 53,712,890 litres in 2016.  

     Champion Oil Ghana Limited jumped down from 64,270,170 litres in 2015 to 53,242,450 litres in 2016; Quantum Petroleum Limited slumped from 71,982,230 litres in 2015 to 51,477,944 litres in 2016; and Engen Ghana Limited went down from 63,992,690 litres in 2015 to 51,307,440 litres in 2016.

      The market share statistics showed that Dukes Petroleum Company Limited dropped from 53,692,730 litres in 2015 to 47,102,190 litres in 2016; Compass Oleum Limited also dropped from 61,153,000 litres in 2015 to 38,045,900 litres in 2016; and Galaxy Oil Company Limited dipped from 42,380,952 litres in 2015 to 35,752,500 litres in 2016.

      Pacific Oil Ghana Limited dipped from 49,814,180 litres in 2015 to 35,581,700 litres in 2016; Nasona Oil Company Limited jumped down from 56,047,500 litres in 2015 to 34,098,500 litres in 2016; Unity Oil Company Limited went down from 38,234,080 litres in 2015 to 33,449,500 litres in 2016; and Strategic Energies Limited dipped from 38,651,560 litres in 2015 to 28,919,330 litres in 2016.

      Other OMCs which were heavily hit by the activities of illegal Petroleum product dealers were; Petrobay Oil Limited went down from 34,137,730 litres in 2015 to 28,442,840 litres in 2016; Excel Oil Company Limited jumped down from 48,674,740 litres in 2015 to 26,973,790 litres in 2016; and Benab Oil Company Limited slumped from 20,225,320 litres in 2015 to 18,930,310 litres in 2016.

      Cash Oil Company Limited flopped from 27,050,190 litres in 2015 to 14,837,980 in 2016; Karela Oil and Gas Limited dropped from 16,777,740 litres in 2015 to 12,253,500 litres in 2016; and Superior Oil Company Limited jumped down from 12,548,110 litres in 2015 to 8,805,710 litres in 2016.

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