Petrosol Ghana Limited, one of the leading indigenous oil marketing companies (OMCs) in the Republic of Ghana, has rebranded to become a fully-fledged energy company after 10 years of serving Ghanaians with the right quantity, quality and affordable petroleum products.
Now rebranded as Petrosol Platinum Energy Limited, the company was founded in March 2006 as Petroleum Solutions Limited and was providing petroleum management and consultancy services to OMCs in the West African nation.
After operating as a consultancy services company for some years, the company migrated from being a consultancy company to an OMC in 2013.
The company acquired a licence from the National Petroleum Authority (NPA) in November 2013 and commenced operations in February 2014.
With a commitment to making impact on lives and contributing to the growth and development of Ghana’s economy by offering the right quantity and quality fuel to the transportation sector, Petrosol Ghana, from a humble beginning of operating four retail stations, now has 115 retail stations across the country.
At a short ceremony at the company’s retail outlet on the Spintex Road in Accra, the Founder and Chief Executive Officer of Petrosol Platinum Energy Limited, Mr Michael Bozumbil, recounted how the company had weathered the storm to come this far.
He told the gathering that in 2015, a year after the company had acquired licence and started operating, the government took a decision to deregulate the petroleum downstream sector and this gave OMCs the opportunity to set prices based on market factors.
According to him, this shift in policy by the government posed a significant challenge to his company since it was a new entrant into the market and had to compete with existing OMCs that could set prices lower than that of his company.
Mr Bozumbil said, “Right from the onset, we set out to be a model of excellence and didn’t want to cheat.”
Continuing, he said between 2016 and 2017, substandard fuel flooded the market at the time the company was struggling to keep afloat.
In the next phase of the business, Mr Bozumbil said the company would continue to comply with the required standards and impact lives by serving the right quality and quantity of fuel to consumers.
He used the occasion to pay glowing tribute to industry players and staffs whose dedication and hard work had brought the company to this level.
In an address, the Chief Executive Officer of the Association of Oil Marketing Companies (AOMCs), Dr Riverson Oppong, praised the CEO of Petrosol for his commitment to best practices in the industry.
Dr Oppong, who described Mr Bozumbil as a dedicated team player, urged him to work harder to push the company to become one of the top five OMCs in the country.
The CEO of Cirrus Oil and Board Chairperson of Chamber of Bulk Oil Distributors (CBOD), Mrs. Ivy Appea Owusu, praised the Petrosol Ghana team for being a shining example in the industry and urged them to continue to inspire.
The CEO of NPA, the downstream regulator, Abdul-Hamid, described Mr Bozumbil as his standard.
“You’re my standard; you’re very honest, principled, humble ethical, and everything this country needs to move forward.
“And I salute you on your 10th anniversary and I pray that all of us, including political office holders, will have the courage to be like you,” the NPA CEO said.