The Ghana Oil Company Limited, GOIL has recorded an impressive growth performance across key indicators of its operations for the year ended 31st December 2022.

The company registered a profit after tax of 123.89 million cedis, representing an increase of 26 percent higher than what was recorded last year.

The company also declared a dividend of 0.056 pesewas per share for the 2022 financial year.

Delivering his address at the 54th Annual General Meeting of GOIL, the Board Chair of the company, Reginald Daniel Laryea assured of his outfit’s commencement to boost its operations and systems.

He also despite the harsh economic conditions facing the economy, his outfit adopted sound financial measures across all operational sectors resulting in the results achieved.

“The internal and external conditions that prevailed over the course of the year 2022 were unfavorable to Ghana but we were able to record a profit after tax of ¢123.89 million in the year 2022, up by 26% compared to the previous year”.

“Earnings per share rose to ¢0.316 in 2022, compared to the year 2021 which was ¢0.252. We are happy to declare a dividend of ¢0.056 to our cherished shareholders, up by 19% compared to the year 2021”, he said.

The company also said it continued to dominate the bunkering market in Ghana increasing its market share from 60% in 2021 to 73% in 2022.