GOIL is Still Strong; Board Chair Assures Otumfuo

According to the Board Chairman of the GOIL PLC, Mr Reginald Daniel Laryea, the company is still a force to reckon with on the market despite the torrid season it endured last year.

He gave the King of the Asante Kingdom, Otumfuo Osei Tutu II this assurance during a courtesy visit to the Manhyia Palace with some members of the Board of Directors and Management of the company on Friday, May 17, 2024.

The delegation was at the Palace purposely to extend their well-wishes to the Asantehene on his Silver Jubilee on the Golden Stool.

The delegation included Kwame Osei-Prempeh, the Managing Director and Group CEO, Mabel A. Amoatemaa Sarpong, a board member, John Boadu, a board member and Dr. Ing Belinda Boadi, the acting Head of Goil Upstream.

In his submission, Mr Laryea expressed the company’s appreciation and gratitude for the unflinching support it has received from Otumfuo in the past 25 years of his reign.

He was particular about the enormous support they received from the King in overcoming their challenges last year and informed him about the stable state of the company currently.

“We thank you for the support we received last year during our challenging moments and we would want to inform Otumfuo that GOIL is still a very strong company.”

Extending their good wishes, he said, “It’s a big honour to pay respects to Otumfuo as the Board Chairman of GOIL. On the occasion of his exemplary leadership, we wish him a glorious 25th Anniversary. We identify with all the good things Otumfuo and Asanteman have done for Ghana. The celebration has been very successful by the grace of God.”

His Majesty used the occasion to commend the company for the provision of high-grade fuel that meets standards for performance, efficiency, and cleanliness to customers.

He as well patted the management for some prudent initiatives such as the implementation of subsidies during hiking fuel costs on the market as he referenced the company’s decision to reduce fuel prices by 15 pesewas per litre in December 2021 when commercial drivers embarked on a sit-down strike to demand the scrapping of some taxes on petroleum products to reduce the hiking prices on the market.

“You have proven to be a trusted and reliable fuel source to the citizenry due to the quality and that is all due to the management.”

Otumfuo also encouraged the team to make the company profitable by serving the interest of the people with whose money it was established and reap the needed profit.

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