What Is OMC?
Public sector Oil Marketing Companies (OMCs) i.e. Indian Oil Corporation Ltd. (IOCL), Hindustan Petroleum Corporation Ltd. (HPCL) and Bharat Petroleum Corporation Ltd. (BPCL) do the retail marketing and distribution of petroleum products under the administrative control of this division. The Association of Oil Marketing Companies is an industry association and a private initiative by the oil marketing operators in Ghana. We are an advocacy institution established to help direct downstream policy, legislation and regulation and pursue research towards the development of the downstream sector.
What Does An Oil Marketing Company Do?
Oil marketing company means a company that operates (company owned, company operated) three or more petroleum retail service stations; procures and sells petroleum products to bulk consumers and the general public through petroleum product retail stations and reselling outlets.
How Many OMCs Are In Ghana?
There are 170 OMCs currently operating in Ghana’s oil sector; 80 such firms have not been working or lifting products or paying taxes, leading to a loss of revenue for NPA.
OMC Prices In Ghana:
The second pricing window saw international market price falls and the Ghana cedi’s appreciation against the US dollar reflecting on the domestic fuel market positively at all Oil Marketing Companies (OMC) outlets monitored by IES.
The price reductions seen over the pricing window peg the national average price per litre of petrol at ¢12.68 from ¢15.16, representing a 16.36% reduction over the period. Diesel national average price per litre moved from¢18.78 to ¢15.55; falling by roughly 17.20%.