The Bulk Distribution sector of the petroleum downstream industry fared comparatively well in 2018 against 2017, according to the 2018 industry report by the Chamber of Bulk Oil Distributors, CBOD Ghana. Total petroleum product supply reached 4.27million metric tonnes in 2018.
Products traded in 2018 included Fuel Oil (Industrial) 35,754; Fuel Oil (Power) 103,345; Gas Oil 1,430,256; Marine Gasoil 24,060; Unified 1,362; Kerosene 4,966; Liquefied Petroleum Gas-LPG- (Butane) Domestic 288,329; LPG (Propane) Power 108,482; Premium 1,255,143; Premix 55,335; Marine (Foreign) 10,259; Gasoil (Mines) 283,945; Aviation Turbine Kerosene-ATK- 200,337; and Gas Oil (Rig) 88,171 metric tonnes.
The BDC market was, however, controlled by a few big players. The top five increased their shares on the market from 56.94% in 2017 to 59.63% in 2018 and supplied most of the products.
Top Five;
1. GoEnergy;
The company has maintained its 4-year (2014-2017) run as the largest distributor of products with a 16.59% market share in 2018. Its distribution, however, fell from 647,744mt in 2017 to 645,461mt in 2018, a consistent decline in its market share.
Its share dropped from 22.14% in 2016 to 18.69% in 2017 and further downwards to 16.59% in 2018. In 2018, GoEnergy traded 645,461 metric tonnes of products.
2. Blue Ocean Investments;
Over the past five years, Blue Ocean has steadily increased its market share from as low as 0.21% in 2014 to 15.57% in 2018, mainly from its penetration of the gasoil, gasoline, MGO foreign, and ATK markets, CBOD’s 2018 Industry report said.
Its growth has been spurred on by its vertical integration with Puma Energy as its OMC, as well as its logistical dominance in the ATK business. The total volume of products traded in 2018 was 605,482 metric tonnes.
3. Juwel Energy;
Juwel Energy, which ranked 6th in the distribution of products in 2017, saw a 113% growth in its performance from 225,679.56 metric tonnes in 2017 to 481,799.23 metric tonnes to rank 3rd in 2018 with a market share of 12.39%.
The company had also seen its market share increase from as low as 1.8% in 2014 to 12.4% in 2018, moving significant volumes of gasoline, gasoil, and ATK in 2018. In the review year, it traded a total volume of 481,799 metric tonnes of petroleum products.
4. Ebony Oil & Gas;
With a total volume of 320,246 metric tonnes of products, Ebony Oil and Gas followed Juwel Energy as the fourth largest distributor in 2018. Products traded included- Fuel Oil (Industrial) 6,913; Gas oil 97,081; Marine Gasoil 1,243; Kerosene 4,038; Premium 143,184; Marine (Foreign) 228; Gasoil (Mines) 11,000 and ATK at 56,559 metric tonnes.
5. FuelTrade;
Leading the imports for 2017, Fueltrade dropped to 3rd in the imports section after a fall in imports from 688,658 metric tonnes in 2017 to 395,053.01 metric tonnes in 2018. The company traded a total volume of 266,373 metric tonnes of petroleum products.