The Group Chief Executive Officer and Managing Director of GOIL PLC, Kwame Osei-Prempeh, has dismissed assertions that his outfit has not been affected negatively due to the ‘Gold for Oil’ programmel.
This comes after some Oil Marketing and Bulk Distributing Companies backed out of the deal, following issues with proposed payment terms and the origin of the products.
In an interview with Joy Business’s James Eshun at the 54th Annual General Meeting of the company, Mr. Osei-Prempeh explained that his outfit is currently benefiting from the deal due to the good policies.
According to him, measures have been put in place by the shareholders of the company to take advantage of the deal to protect the interest of consumers and partners.
“We are not kicking against it. It has really taken some of our stress because at a point we needed to push for dollars and all but now it is fine”.
“There will definitely be problems, but they are minors because the government is putting in effort to stabilise the currency”, he said.
Mr. Osei-Prempeh revealed GOIL PLC will soon partner a new player within the upstream sector.
In May 2021, ExxonMobil announced to the Ghanaian government that it was exiting the country’s upstream petroleum sector where it has been conducting exploration after acquiring rights in 2018.
Mr. Prempeh said firms are ready to go into the deal with GOIL PLC.
“So, we are working towards that. The exit of Exxon Mobil slowed down things but with the figures other firms are seeing. I’m sure very soon we will have one come on board.
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