GOIL - Ghana Oil Company Limited

Jun 2, 2023 at 11:37 Twitter · Facebook

GOIL share price on Ghana Stock Exchange

Ghana Oil Company Limited, popularly known as GOIL, is a Ghanaian oil and gas company. It was incorporated as a private limited liability company in June 1960 as AGIP Ghana Company Limited. The company changed its name to Ghana Oil Company Limited in 1976 subsequent to the Government of Ghana’s acquisition of the shares of AGIP SPA and Hydrocarbons Int. GOIL was eventually converted into a public company in 2007, followed by a comprehensive overhaul of the company’s brand and corporate culture in 2012. This brought about revamping of existing stations as well as the expansion of the number of service stations.

GOIL’s main business is the marketing and distribution of petroleum products in Ghana with the biggest chunk of its sales coming from the sale of diesel and gasoline. However, the energy company is actively seeking to move beyond the current frontiers to marketing and distribution of energy products in general.

Ghana Oil Company Limited is listed on the Ghana Stock Exchange (GSE) since November 16th, 2007. Ghana Oil is traded on the GSE under the ticker symbol “GOIL”. The International Securities Identification Number (ISIN) of GSE:GOIL is GH0000000722. Ghana Oil Company Limited is currently the 12th most valuable stock on the GSE with a market capitalization of GHS 647 million, which is about 0.982% of the Ghana Stock Exchange equity market.

GOIL Stock Market Performance

The current share price of Ghana Oil Company Limited (GOIL) is GHS 1.65. GOIL closed its last trading day (Thursday, June 1, 2023) at 1.65 GHS per share on the Ghana Stock Exchange (GSE). Ghana Oil began the year with a share price of 1.72 GHS but has since lost 4.07% off that price valuation, ranking it 29th on the GSE in terms of year-to-date performance.

Ghana Oil Company is the 10th most traded stock on the Ghana Stock Exchange over the past three months (Feb 28 - Jun 1, 2023). GOIL has traded a total volume of 275,460 shares valued at GHS 452,283 over the period, with an average of 4,372 traded shares per session. A volume high of 93,543 was achieved on March 15th for the same period. The table below details the last 10 trading days of activity of Ghana Oil on the Ghana Stock Exchange.

Profile of Ghana Oil Company Limited

Ghana Oil Company Limited was founded on June 14, 1960 and operates in the Oil & Gas sector, specifically, the Oil Equipment & Services industry. The company is led by Patrick A. K. Akorli as its Group CEO & Managing Director. The company's board of directors, chaired by Kwamena Bartels, is composed of 10 members whose names are listed below.

1. Bartels, Kwamena
   Chairman
2. Akorli, Patrick A. K.
   Group CEO & Managing Director
3. Kusi-Appouh, Nana Ama
   Board Secretary
4. Prempeh, Kwame Osei (Hon.)
   Board Member
5. Prempeh, Beatrice Agyeman (Mrs.)
   Board Member
6. Baafour-Gyimah, Rhoderline (Mrs.)
   Board Member
7. Williams, Beauclerc Ato
   Board Member
8. Tengan, Stephen
   Board Member
9. Amankwah, Robert Owusu
   Board Member
10. Manu, Thomas Kofi
    Board Member

GOIL Industrial Market Competitors

Ghana Oil Company Limited, issuers of the GOIL stock on the Ghana Stock Exchange, have two market competitors who are also engaged in the Oil & Gas sector and/or Oil Equipment & Services industry. The table below presents an overview of their market standing.

Index of African Stock Exchanges:

1. Botswana Stock Exchange
2. BRVM Stock Exchange
3. Ghana Stock Exchange
4. Johannesburg Stock Exchange
5. Lusaka Securities Exchange
6. Malawi Stock Exchange
7. Nairobi Securities Exchange
8. Nigerian Stock Exchange
9. Uganda Securities Exchange
10. Zimbabwe Stock Exchange