Former Member of Parliament for Ablekuma North, Peter Kwamena Essilfie Bartels, has been appointed by the government as the new Board Chairman of Ghana Oil Company Limited(GOIL).

Bartels, who under former President Kufuor’s government served as Minister of the Interior, Minister for Information and National Orientation and Minister for Private Sector Development and the President’s Special Initiative, takes over from Prof. William. A. Asomaning.

The announcement was officially made at GOIL’s 48th Annual General Meeting in Accra on Thursday.

Other members on the board are, Kwame Osei-Prempeh, Mr. Beauclerc Ato Williams, Mrs. Beatrix Agyeman Prempeh, Mr. Robert Amankwah and Mrs. Rhoderline Baafour- Gyimah.

Mr Bartels promised to work hard with his members to enhance the development of the company and also urged the shareholders to support the new board.

He expressed his sincere gratitude to the previous board members for their effort at rebranding the company to fit the standards of Oil Marketing Companies in the country.

The outgone Board Chairman of GOIL in an address, stated that when his team took over in march 2009, the market share was 13.6% as the third largest Oil Marketing Company(OMC), and by December 2016, the market share had risen to 18.2% making GOIL the market leader in Ghana today.

“GOIL achieved 95.8% of its fuel sales target in spite of the tight competition in the industry. Despite a fall of about 5.6% in National Consumption of fuel product, the company grew fuel sales by 9.8% during 2016.LPG sales grew up by 30% compared to 2015, Lubricant sales also improved by 11% compared to 2015, therefore GOIL remains to the biggest OMC with a market share of 18.2%,” he said.