Business News of Saturday, 19 May 2012

Source: GNA

GOIL outdoors new brand logo

Ghana Oil Company Limited (GOIL) at the weekend outdoored a new brand logo and launched its new re-branded image into the oil marketing industry in the country.

The new logo centred around a “G” with wind vanes in various shades of orange rotating in an anti clockwise fashion, seeks to present a dynamic action oriented company and with “GOIL,” and “Good Energy” written below in grey.

Ghana News Agency observed during the launch that the new GOIL Logo is based on organic and dynamic shapes that represent movement, energy, progress, warmth and growth.

Mr. Kojo Bonsu, a member of the GOIL Board of Directors explained that, as the leading indigenous oil company, GOIL is placing itself in readiness to compete effectively in the oil industry.

“The rebranding is a reflection of our commitment to grow our business by being better positioned in the minds of all our stakeholders including our employees, consumers, regulators, investors and even our competitors,” he said.

Mr. Bonsu, who was in charge of the GOIL Re-branding Committee noted that, the rebranding will take between five to ten years for “GOIL to transform and control the oil industry in the country”.

Mr. Chris A. Ackummey, Acting Managing Director of the company, noted that GOIL was incorporated as a private limited liability company on June 14, 1960 as AGIP Ghana Company Limited.

Its objective, he said, was marketing petroleum products and related products particularly fuels, liquefied petroleum gas (LPG), lubricants, bitumen, and speciality products in Ghana.

He explained that its shareholders were AGIP SPA of Italy and SNAM S.P.A but on December 16th, 1968, SNAM S.P.A. transferred its 10 per cent shareholding representing 95,000 shares to Hydrocarbons International Holdings of Zurich, Switzerland.

Mr. Ackummey said the Government of Ghana in 1974 acquired the shares of AGIP SPA and Hydrocarbons International Holdings in AGIP Ghana Company Limited, and by a special resolution in 1976 changed the name of the Company to Ghana Oil Company Limited.

By a shareholders resolution passed on August 1, 2007, the Company adopted new regulations and was converted into a public Company.

He said GOIL has the largest retail network across the country with numerous consumer outlets doted throughout the country, in addition, there are a number of other retail outlets established to market premix fuel and kerosene to rural areas.

Mr. Ackummey said LP Gas filling plants have also been installed at some of the filling and service stations and at other locations in the country.

He said, GOIL’s philosophy is to continuously improve and provide varieties in terms of its products and service delivery through product differentiation in the region of fuel oils; it is about combining best breeds of additives with the normal fuel oil.

“Our experienced technical team is the brain behind the innovations. They are able to take advantage of global research findings to create products of quality to our customers,” he said.

Dr. Joe Oteng Adjei, Minister of Energy who launched the new logo and rebranded image noted that the government was committed to transforming the energy sector.

He lauded the effort of GOIL to set the pace in the oil sector and called for conceited efforts to move the rebranding agenda for attainment of the government’s “Better Ghana Agenda”.

The impressive ceremony was attended by industrial stakeholders, traditional rulers, religious leaders, industrial regulators, Board Members of State Institutions and the general public.**