Wed, 20/12/2017 - 05:05
Current Issue 58
Our Business, Our Pride
Glory Oil is recognisable within Ghana for the care that it places in improving its customers’ lives, working to create innovative solutions to cement its market-leading position
Writer: Phoebe Calver
Project Manager: Josh Hyland
Glory Oil has made a name for itself through consistently striving to become the leading oil marketing company operating in Ghana, building a good reputation for marketing high quality petroleum and similarly related products.
In November, 2001, the Company began its operations having obtained the required permits and licences that the Ghanaian regulatory agencies demand. Since that point in time, the Company has been able to build and operate a successful and thriving distribution network through its filling stations in Ghana.
“Due to the fact that we are a growing business, we ensure that as a Company we remain focused on our main objectives without compromising our values or opportunities,” begins the Company on its website. “We feel that a true measure of success is if we are able to give back to society through our social responsibility commitments; better serving the local community through our work and projects.”
Excellence in convenience
The Company has made phenomenal inroads in the local market in a relatively short space of time, particularly in the past five years with the end of December, 2012 announcing Glory Oil as the fifth largest oil marketing company in Ghana.
“We have also received the silver award for Business Excellence at the 9th Ashanti Business Excellence Awards in the category for Oil Marketing Company of the year,” continues the Company. “The Association of Oil Marketing Companies of Ghana (AOMCs) also recognised us with the coveted founders appreciation award.”
Glory Oil has been recognised time and time again for its excellence and as a part of its drive to deliver convenience to its valued customers, the Company has stepped-up to the mark again by deploying e-payment systems at selected service stations across the country.
The Company adds: “This service is proving to be particularly successful and is enabling our customers to make payments via MTM Mobile Money, Airtel Mobile Money, Tigo Cash or Vodafone Cash, while also working on deploying point of sale systems which should enable customers to make payments with their visa cards.”
Due to a recent adjustment in prices for petroleum products, the Company has been extremely receptive in cutting its prices. Now Glory Oil is successfully providing the lowest prices at the pump, selling a litre of petrol at approximately 3.45 cedis and diesel at 3.06 cedis a litre.
“This fluctuation in petroleum prices has been anticipated for a long time, almost directly after the NPA embarked on its attempts to deregulate the petroleum sector,” the Company describes. “Some of the previous governments we have worked under as well as this one have played with the price of commodity, however, this year the Government has decided to bite the bullet and take a step back from the pricing of the aforementioned products.”
It is arguable that by allowing the local market forces to determine petroleum prices could be in the best interest of consumers, with competition forcing down prices and current price fluctuations proving to validate this argument.
“We have witnessed fuel prices dropping at the pump at around 15 percent, this is following on from the significant strength of the Ghana cedi against the dollar,” adds the Company. “At present Ghana is operating under an enhanced price deregulation policy, which appears to be having a very positive effect on petroleum pricing in the country and for companies such as ours.”
Over the years the Company has established a portfolio that enables it to customise services, achieved through providing its customers with a tailor-made solution to meet their needs.
The Company continues: “In recent times some of the aforementioned services have included filtration systems, fuel depot installation and management, fuel delivery and monitoring systems, technical support and maintenance services, decommissioning and the relocation of storage facilities, advice on compliance, health & safety, regulatory obligations, fuel card systems and corporate fleet supplies.”
Across this wide range of services the Company is catering to key clients that range from private car users, commercial vehicle operators and corporate bodies.
“We feel incredibly privileged to work with these clients, while also being lucky enough to work with corporate bodies that include those in the mining sector, beverage industries, telecommunications sector, fishing sector, service sector and civil and construction sector,” affirms the Company. “With thanks to our extensive experience working with such a range of clients, we have developed extensive product knowledge over the years.”
Glory Oil has used its experience to improve its extensive power fuels offering, and now works with a product that dramatically increases customer engines’ fuel economy.
“Through our extensive research and development work, we have created a product that enables clients to travel further on the same amount of fuel offered by competitors,” explains the Company. “With thanks to research carried out recently, with our fuel you will be able to save between four and eight percent on your travel costs.”
Alongside greatly decreased travel costs over time, the Company has been testing the addition of specially formulated additives within its fuels.
“Through our work with the aforementioned additives, we have been able to eliminate water within the engines,” concludes the Company. “This has ensured that the engines within our customers’ vehicles have an extended service life, while also reducing maintenance costs.
“In the future, these sorts of enhancements to our product offering are what we hope to continue working on and will improve our longevity within the industry for many years to come.”