GOIL financial position strengthened, total assets rose to GHS4.88 billion

GOIL PLC, the nation’s foremost indigenous oil marketing company, financial position has strengthened steadily as its total assets rose to GHS4.88 billion, while significant reductions were achieved in overdrafts and term loan obligations.

Speaking at 57th Annual General Meeting, Nana Philip Archer, GOIL PLC Board Chairman elaborated that the company’s earnings per share improved by

6.94 percent affirming GOIL’s growing ability to transform operational discipline into enduring shareholder value.

He admitted that although revenue declined from GHS 20.36 billion in 2024 to GHS 18.55 billion in 2025 due to global market pressures, GOIL responded with discipline, prudence, and strategic efficiency measures.

“These efforts translated into a 7.05 percent growth in net profit after tax, rising from GHS84.70 million to GHS90.67 million, while total comprehensive income surged impressively by 33.90 percent to GHS119.15 million,” Nana Archer stated.

Nana Archer outlined other prudent managerial measures adopted by the Board, Management and staff to ensure a turnaround, including controlled measures on depot and station expenses, prudent administrative cost management, proper recording of all financial expenses, and deliberate commitment to operational excellence and cost optimization.

The GOIL Board described the achievements of 2025 as "a testament to the resilience of the dedication of management and staff, the guidance of the Board, and above all, the confidence and loyalty of you, our cherished shareholders.

“The journey ahead is one of promise and opportunity. With discipline, innovation, and unity of purpose, GOIL PLC will continue to strengthen its leadership position, create sustainable value, and remain a proud symbol of

Ghanaian enterprise and excellence,” Nana Archer stated.

Mr. Edward Abambire Bawa, GOIL PLC Managing Director and Group Chief Executive Officer, reaffirmed the company’s commitment to consolidating its position as Ghana’s flagship indigenous energy firm.

He pledged that a renewed focus on discipline, innovation, and unity of purpose will drive sustainable value creation and elevate GOIL’s role as a symbol of national enterprise and excellence.

Mr. Bawa emphasized that GOIL’s continued leadership in Ghana’s downstream petroleum sector will be powered by operational rigor, forward-looking investments in technology, and a cohesive corporate culture that aligns staff, partners, and stakeholders behind a shared vision.

“With discipline as our foundation, innovation as our engine, and unity of purpose as our compass, GOIL will not only strengthen its leadership position but also deliver long-term, sustainable value to Ghanaians,” Mr. Bawa stated.

He added that the company remains dedicated to upholding the highest standards of service delivery, corporate governance, and local content development.

Mr. Bawa also reiterated GOIL’s commitment to sustainable and responsible business, assuring Ghanaians that GOIL would continue to invest in environmental sustainability, health and safety standards, ethical conduct, and corporate social responsibility initiatives.

He said GOIL as a market leader would continue to set an industry pace that focuses and aligns with growing investor and regulatory expectations for energy firms operating in Ghana and the wider West African market.

Mr. Bawa indicated that with stronger profitability, improved shareholder returns, and fresh financing tools on the table, “GOIL enters the next financial year with a proactive agenda aimed at consolidating its leadership in Ghana’s petroleum industry.”

He said, 'As a proudly Ghanaian company, GOIL remains deeply committed to national development and community transformation. ' Through our corporate social investment initiatives, we continued to touch lives across the country in the areas of health, education, water, sanitation, and social welfare.”

The GOIL MD also elaborated that safety performance remained strong on GOIL's operational agenda; as a result, environmental compliance was maintained without incident, and extensive training programmes strengthened the culture of safety and accountability across the organization.

Mr. Bawa emphasized that, “as a proudly Ghanaian company, GOIL remains deeply committed to national development and community transformation.”