GoEnergy still BDC leader in Ghana - report
With a market capture of 18.7%, GoEnergy has maintained its position as the market leader in the bulk oil distribution business, according to a 2017 industry report.
Though still leading the industry ranking for the review year, the company’s share was 3.44% down from 2016 with a distribution fall of 89,277 metric tonnes from 733,021 metric tonnes in 2016 to 647,744 metric tonnes in 2017.
The report, released by the Chamber of Bulk Oil Distributors (CBOD), named Blue Ocean, Cirrus Oil, Ebony Oil and Gas, Fueltrade, Juwel Energy, Chase Petroleum Ghana, Misyl Energy, Eco Petroleum, and LHS Ghana Limited among the top ten BDCs.
Blue Ocean, in second place, unseated Chase Petroleum as the largest private distributor with a 12.71% share in 2017, up from its 8.18% share in 2016.
The company, however, topped the Aviation Turbine Kerosene (ATK) distribution sub-sector, displacing Ebony with an increase in its share from 38.56% in 2016 to 53.76% in 2017.
Cirrus Oil, Ebony and Fueltrade joined GoEnergy and Blue Ocean to form the top five distributors, controlling 56.96% of the market while the top ten covered 78.64% of the total market share.
Notwithstanding its performance as the largest petroleum importer for 2017, Fueltrade distributed only 35% of its import volume, but rather traded stocks with other BDCs instead of distributing to Oil Marketing Companies (OMCs).
Eco Petroleum was adjudged the largest distributor of Liquefied Petroleum Gas (LPG - 30.90%) though it ranked 9th in the total BDC market share.
Without an appearance in the latest ranking, Vihama, at 11th place, maintained its position as the largest distributor of premix fuel, though with a reduced share from its 100% market control in 2016 to 62.71% in 2017.
Of the 43 BDCs and refineries, 33 distributed products per the industry report. A total of 17, out of the 43 BDCs, distributed higher than the standard cargo size of 30,000 metric tonnes in the entire year while 16 distributed below the standard cargo size. Ten distributors were, however, inactive in 2017.