GOIL PLC, Ghana’s largest indigenous oil marketing company, recorded a net profit after tax of GH¢90.67 million in 2025, up from GH¢84.70 million in 2024, driven by operational efficiency and prudent management despite a challenging global petroleum market.
The company recorded revenue of GH¢18.55 billion in 2025, compared with GH¢20.36 billion in 2024, representing a decline of GH¢1.82 billion year-on-year.
The company grew its total current assets to GH¢4,881,943,000 in 2025, from GH¢4,808,209,000 in 2024, with total equity standing at GH¢991,541,000, while total liabilities stood at GH¢3,890,393,000 in 2025.
GOIL’s earnings per share improved by 6.94%, affirming its ability to transform operational discipline into enduring shareholder value.
Addressing shareholders at the 57th Annual General Meeting (AGM), Board Chairman Nana Philip Archer said that despite global market pressures, the company responded with discipline, prudence, and strategic efficiency measures.
He said depot and station expenses, administrative costs, and finance expenses all recorded meaningful reductions. In the year under review, GOIL successfully attained ISO 45001:2018 certification while retaining ISO 9001 and ISO 14001 certifications, reinforcing the company’s adherence to global best practices.
Touching on GOBitumen, he said the company rapidly emerged as a market leader, supplying major contractors with high-quality bitumen products.
According to the GOIL PLC Chairman, the company plans to expand storage capacity to 12,000 metric tonnes by the end of 2026, in line with the government’s ambitious road infrastructure agenda.
Looking ahead, Nana Philip Archer said the 2025 achievements are a testament to the resilience and dedication of management and staff, the guidance of the Board, and the loyalty of customers, stating that with discipline, innovation, and unity of purpose, GOIL PLC will continue to strengthen its leadership position, create sustainable value, and remain a proud symbol of Ghanaian enterprise and excellence.
The Chairman also announced the Board’s recommendation of a final dividend of GH¢0.060 per share, reflecting GOIL’s continued commitment to enhancing shareholder value.
Group CEO and Managing Director, Mr. Edward Abambire Bawa, reaffirmed GOIL’s growth ambitions, explaining that shareholders had overwhelmingly approved management’s plan to raise up to GH¢1 billion from the bond market to support strategic expansion.
According to him, the funds will support the expansion of GOBitumen storage capacity and LPG bottling plants, while also helping restructure GOIL’s debt portfolio to strengthen the company’s long-term financial position.
Shareholders commended the Board and management for GOIL’s remarkable turnaround, strong leadership, transparency, and continued growth in shareholder value, while encouraging the company to sustain the momentum.
Highlights of Financial Performance
1. Strong Profit Growth Despite Market Pressures
GOIL PLC posted a 7.05% growth in net profit after tax, from GH¢84.70 million in 2024 to GH¢90.67 million in 2025, amid a tough global and domestic petroleum market environment. Profit before tax stood at GH¢123.37 million.
2. Revenue Remained Strong
The Group recorded gross revenue of GH¢18.55 billion in 2025, reaffirming GOIL’s position as one of Ghana’s largest indigenous petroleum marketing companies.
3. Improved Shareholder Value
GOIL continued to create value for shareholders:
- Earnings per share (EPS) improved from GH¢0.2160 to GH¢0.2310
- Market price of shares increased significantly from GH¢1.52 in 2024 to GH¢2.96 by the end of 2025, reflecting strong investor confidence
4. Dividend Recommendation
The Board has proposed a final dividend of GH¢0.060 per share, amounting to about GH¢23.5 million to be distributed to shareholders.
5. Operational Efficiency and Cost Discipline
Despite lower revenues compared to 2024, GOIL improved profitability through strong operational discipline, including reductions in:
- Depot and station expenses
- Administrative costs
- Finance costs
6. Strategic Financing for Growth
At the AGM, shareholders are expected to consider a proposal to authorize the establishment of a GH¢1 billion Medium-Term Note Programme (bond programme) to support business expansion and strategic growth opportunities.
7. Sustainability and Responsible Business
GOIL continued to operate with a strong focus on:
- Environmental sustainability
- Health and safety
- Ethical business conduct
- Corporate social responsibility
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