GOIL, TotalEnergies, and Shell, traditionally dominant players in Ghana’s downstream petroleum sector, have seen a decline in market share over the past few months, according to data from the National Petroleum Authority (NPA).
Sales figures reveal a downward trend, with GOIL selling 56,281,500 liters of petrol and diesel in January 2024, which decreased to 52,886,500 liters by August—a decline of approximately 6%. TotalEnergies reported a drop from 31,302,000 liters to 30,294,000 liters, reflecting a 3% decrease, while Shell’s sales fell from 38,651,600 liters to 37,004,700 liters, marking a 4% decline.
Energy analyst Benjamin Nsiah has attributed this loss of market share to the need for the three companies to reassess their pricing strategies. He emphasized that improving dealer margins is crucial to retain and attract partners.
The decline in sales has led to decreased revenues for dealers, with many struggling to cover costs due to fixed expenses, including utility bills and employee compensations. Nsiah pointed out that dealers associated with GOIL, Shell, and TotalEnergies are seeing significant revenue drops, with some reporting earnings that have fallen by thousands of Ghanaian cedis since January.
In light of these challenges, the NPA data suggests a critical need for the affected companies to adapt to the evolving market landscape to sustain their operations and retain dealer partnerships.
Source: DEW360.NET
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