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Total Ghana forecasts positive outturn

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One of the leading petroleum companies in Ghana, Total Ghana has predicted a positive improvement in its annual performance.

According to the company, it still managed a strong performance in 2015 despite the volatility in the world oil sector and numerous competitive challenges faced in the industry.

Speaking at the company’s Annual General Meeting in Accra, the Executive Vice President of Total West Africa, Ada Eze disclosed that the year 2015 was good despite its challenges.

‘‘Despite a challenging environment, Total Ghana saw quite a good performance. Generally, there has been volatility in the world oil sector that is affecting all oil companies,” she said.

“Locally also, there is more competition but we still had a strong performance and we were able to continue all our investment programmes, as well as pay all our dividends’’, she added.

She appealed to government to continue to make the environment conducive for businesses to grow.

‘‘We always need the support of government, we consider ourselves to be partners with the authorities in any country that we work in, and what we always need from any government is just to make sure the business environment is conducive and business friendly, ’’ she stressed.

On his part, the Managing Director of Total Ghana, Olivier Van-Parys announced that the company increased its volume by 5.5%, mainly due to an improvement in the Network Sales by 9.5%.

He stated that investment in 2015 also reached a level of GHc 51.1 million.

‘‘We are convinced that in this challenging market, delivering the right quantity and providing higher quality fuel and lubricants are key to ensuring a sustainable position in the market,’’ he said.

He added that ‘‘Total Ghana will continue to introduce dynamic concepts for our diversification business’’.

Total Ghana has been in Ghana for over 60 years in the petroleum distribution sector, and has the widest network coverage in the country.

By: Jessica Ayorkor Aryee

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