Engen Ghana calls for the support of indigenous OMCs

Engen Ghana Limited, recently called for support for indigenous Oil Marketing Companies (OMCs) to survive and compete favourably with multi-nationals who are progressively taking dominion over the downstream petroleum sector. This according to a report published by GhanaWebNews.com.

Engen Ghana, MD, Mr Henry Akwaboah explained that it was dangerous for the national economy if multi-nationals dominated the downstream petroleum sector as any industrial turbulence could endanger the security of the country. He said multi-national players in other jurisdictions had the penchant of forming cartels and dictating the price of fuel products; “in a deregulated regime, Ghana must empower indigenous OMCs to stand the might of these companies and protect national interest”.

Mr Akwaboah told the Ghana News Agency in an interview on the performance of indigenous OMCs that, “currently most local OMCs were struggling to survive due to the uneven business environment. The Multi-nationals have huge financial power and covertly trying to knock-out indigenous OMCs out of business”. He however re-affirmed Engen Ghana’s commitment to lead an industrial revolution for the protection of local OMCs, “we are therefore injecting professionalism in the downstream operations in fulfillment of our commitment to become the Oil Company of Choice in the country”.

Mr Akwaboah explained that “under the new shareholders, Mocoh Ghana Limited; Engen Ghana is building a solid business foundation inextricably linked to the values – Integrity, Ownership, Team Work, Empowerment and Performance”. He noted that the values underpinned the day to day operations as a responsible corporate entity across service stations across the country; “we will also collaborate with other indigenous OMCs through sharing of experiences”.

Mr Akwaboah noted that Engen Ghana, now an indigenous OMCs is interested in the protection of the environment and would continue to ensure a standardized integrated system to manage Health, Safety, Environment and Quality (HSEQ) at all “Engen branded service stations”. He said in view of recent developments, Engen Ghana launched an online tool that made real-time recommendations on the best possible lubricating oil for a customer’s make and model of vehicle

The tool provides marketing and strategic support for Engen Lubricants, which enabled customers to search through an international database of automotive manufacturers for the right lubricants even before going to the service stations. On the impact of the deregulation on OMCs operations, Mr Akwaboah noted that the price volatility put a lot of pressure on OMCs.