GOIL PLC formerly known as GOIL Company Limited (GOIL) and Ghana Oil Company and also known as GOIL, is a state-owned Ghanaian oil and gas marketing company, formed on 14 June 1960.[3] Currently it holds the place of Ghana's top oil marketing company, and is the only indigenous owned petroleum marketing company in Ghana.[4]
History
Founding
Founded in 1960, GOIL began as a private enterprise named AGIP Ghana Company Limited, with major shareholders being AGIP SPA of Italy and SNAM S.P.A. It took over from the marketing outfit of AGIP PETROLI, a subsidiary that was established in Ghana in 1960.[3] It was initially founded as a company producing fossil fuel products such as fuel, propane and butane, asphalt, and lubricants. In 1968 SNAM S.P.A. transferred its shares to Hydrocarbons International Holdings.[5]