GOIL

Ghana Oil Company (GOIL) is the state owned downstream company of Ghana. In April 2018, the company announced plans to become a major player in the country’s upstream sector. GOIL was chosen as the partner for ExxonMobil, which had acquired an 80% stake in the Deepwater Cape Three Points block. In November 2018, the two parties signed a joint operating agreement, which resulted in GOIL forming a new company, GOIL Offshore, to be responsible for upstream operations.

• Bitumen plant: GOIL is collaborating with Côte d’Ivoire’s Societe Multinationale de Bitumes to build a bitumen plant in Tema.
• Subsidiaries: Along with GOIL Offshore, the company owns a financial services subsidiary, GOIL Financial Services, as well as GOEnergy Company, a bulk oil distribution company.

GOIL started out in 1960 as Agip Ghana, was later known as Ghana Oil Company after the government bought out Eni’s shares and in 2019 changed its name to GOIL Company.