Targeting enhanced fuel security, Ghana is driving the development of its downstream oil and gas industry, with advancements in liquefied petroleum gas (LPG), distributed fuel products and aviation fuels. The country’s state-owned oil and gas marketing company Ghana Oil Company (GOIL) plays an instrumental part in strengthening the downstream sector.
Edward Abambire Bawa, Group CEO and Managing Director of GOIL, is speaking at the Invest in African Energies: Accra Investor Briefing on April 14 at the Kempinsky Hotel. The event is a prelude to the African Energy Week (AEW): Invest in African Energies 2025 conference – taking place in Cape Town from September 29 to October 3 – and will showcase Ghana’s extensive oil and gas opportunities, from upstream exploration to midstream infrastructure to downstream distribution and investment opportunities.
With ambitions to increase oil production through the expansion of upstream fields, Ghana also strives to enhance its downstream industry, with aims to reduce petroleum imports by scaling-up domestic infrastructure and distribution. At the helm of this ambition is GOIL, which is already renowned for its diverse product offerings and extensive distribution network. This includes a vast network of fuel stations across the country; strong partnerships with global and local stakeholders in the energy sector; and ongoing investment in infrastructure, innovation and sustainable solutions. The company is also one of the leading suppliers of jet fuel at Ghana’s Kotoka International Airport, Takoradi Airforce Base and Kumasi Airport. In collaboration with partners, the company also offers jet fuel for export worldwide.
Recent developments underscore GOIL’s commitment to expanding its distribution infrastructure. In February 2025, the company opened its third service station in Berekum in the Upper Middle Belt Zone; in August 2024, it reintroduced super XP onto the market; and in February 2024, it opened Autogas stations in five regions nationwide. Additionally, in partnership with Ivory Coast’s Societé Multinationale de Bitumes, GOIL inaugurated a bitumen terminal and production plant in Tema in September 2024. The $40 million facility has a production capacity of 7,500 metric tons and will produce polymer modified bitumen and bitumen emulsions. The facility also features a laboratory for testing the quality of products as well as storage options. The facility is expected to meet the demand of the country’s road construction sector, reducing the import of bitumen products in Ghana. These developments highlight the company’s commitment to expanding infrastructure to support the growing demand for petroleum products in Ghana.
Stepping into this picture, the Invest in African Energies: Accra Investor Briefing offers an opportunity for the country’s state-owned enterprises such as GOIL to share updates on major projects, upcoming investment opportunities and strategic areas of collaboration. During the event, Bawa will share insights on GOIL's strategic initiatives to enhance the nation's oil and gas infrastructure, underscoring the critical need for increased investments across the entire energy value chain to bolster Ghana's economic growth and energy security.
“GOIL continues to make significant strides toward strengthening the entire oil and gas value chain in Ghana. With a commitment to enhancing domestic fuel security and reducing imports, the company is looking at working more closely with international partners to modernize energy infrastructure, boost petroleum product distribution and scale-up capacity building across the downstream sector. GOIL’s projects and forward-looking development strategy exemplify the proactive steps needed across the country to attract investment and enhance the value chain,” stated NJ Ayuk, Executive Chairman, African Energy Chamber.
