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Petrosol - Our abiding commitment to meeting consumers’ needs

BY: Daily Graphic
Mr Michael Bozumbil, CEO of Petrosol
Mr Michael Bozumbil, CEO of Petrosol

Since our formation in 2006 as a petroleum business consultancy firm, and our subsequent commencement of operations as an Oil Marketing Company (OMC) in 2014, we have been known in the industry for our commitment to professionalism, industry best practices and meeting the needs of our consumers.

Petrosol brand

The brand is a “unique and differentiated brand” which thrives on service quality and value for money as it is noted for delivering full quantity of quality fuel to consumers. Thus, to ensure that we meet the needs of our consumers, we directly connect with them through constant interaction and also through investment in research to identify their needs and offer them the service that delights them, hence our tag line, “A delightful experience.”

Market presence

Petrosol is one of the few private OMCs with widespread network of fuel stations to conveniently serve its customers. We believe that every part of this country deserves its fair share of quality petroleum products and also getting value for their hard-earned money spent on petroleum products. Thus, we currently operate a network of 75 branded fuel and liquefied petroleum gas (LPG) stations, mostly in partnership with Ghanaians who have invested in fuel stations. These stations are spread across all the regions.

Reasons for the phenomenal growth

Petrosol’s significant growth within a period of about four years of operating as an OMC has been as a result of a number of factors.

Professionalism and best practices

Petrosol is known in the industry to conduct its business operations with commitment to professionalism and industry best practices. Having spent several years providing selfless and dedicated consultancy services for OMCs and retailers in the country with professionalism previously as a consultancy firm, we have built a reputation of trust and expertise which have led to significant referrals or recommendations. Additionally, we have stayed away from unacceptable practices in the industry.

Experienced team

Petrosol’s top level team—directors and management—is made up of people with considerable practical experience and influence in the industry. Thus, each person has brought on board a network of fruitful business relationships built over several years.

Capacity building

Notwithstanding the experience and knowledge of its team, Petrosol continues to invest heavily in training and building the capacity of its team at all levels—from top management to service attendants at the various fuel stations to equip them to deliver better service to its cherished customers.

Investment in  infrastructure

 Additionally, Petrosol invests heavily in its fuel service stations infrastructure to make them safe and convenient and has also designed innovative and tailor-made models of operating our fuel stations, and these measures have endeared us to many private Ghanaian investors in fuel stations who have decided to opt for its franchise instead of other old/traditional brands in the industry.

Employment generation

Petrosol’s business operations currently provide direct jobs for 375 people (comprising head office staff and those at the various stations across the country), as well as several indirect jobs provided through service providers.

Contribution to government revenue

Our operations generate significant tax revenue to government through petroleum taxes and other direct taxes. Our petroleum products tax payments rose from GH¢10.5 million in 2014 to GH¢85 million in 2016.

Market presence

Within the almost four years of operating as an OMC, the Petrosol brand has received incredible acceptance by the fuel-consuming public and high-profile companies leading to its remarkable growth.

Notwithstanding the stiff competition in the petroleum downstream industry, especially from foreign players trying to squeeze out the Ghanaian private firms at a time when this area should be reserved for indigenous players, it has enjoyed remarkable patronage.

Thus, it was ranked 10th in terms of market share out of about 130 OMCs/LPGMCs operating in Ghana, according to the National Petroleum Authority’s (NPA’s) 2016 industry performance statistics, thus outperforming most OMCs that have been in operation for several years.

This is indeed a clear indication of the Ghanaian consumers’ trust and confidence in Petrosol as delivering on its brand promise.

Industry recognition/awards

The Petrosol brand also continues to receive industry and stakeholders’ recognition for its commitment to professionalism, ethical business conduct and industry best practice.

2014:

Petrosol was ranked the 2nd Best OMC by the Chamber of Bulk Oil Distribution Companies in terms of reliability and creditworthiness when it did its own credit ratings of all OMCs in the country in 2014. We have continued to maintain our record of prompt and reliable payment for petroleum products, petroleum tax commitments and other financial commitments in spite of the country’s economic challenges and the spate of illegal and untaxed petroleum products being marketed at cheaper prices by black oil marketers in recent times.

2015:

Petrosol was adjudged the emerging brand of the year 2015 during the 2015 Ghana Oil & Gas Awards.

2016:

Petrosol took the bold and unprecedented step to educate Ghanaians on how to get value for money at the fuel stations during our nationwide FULL QUANTITY Campaign. Many fuel consumers were thus enlightened on how to ensure that they receive full value for their money.

In recognition of this, the Chamber of Petroleum Consumers (COPEC) awarded Petrosol’s Marketing & Supply Chain Manager, Kwasi Zigah, the BEST Marketing Personality, 2016.

Additionally, Florence Nyarko of Petrosol Ohwim Station, Kumasi was awarded the Overall Best Pump Attendant, 2016 whilst Petrosol was awarded the Fastest Growing Oil Marketing Company, 2016.