The Chamber of Oil Marketing Companies (COMAC) is calling for the removal of inactive licences to help clean up and improve how Ghana’s petroleum sector works.
According to COMAC, there are too many Oil Marketing Companies and LPG companies in the market, with the number growing to more than 229 in 2025.
This has made the market overcrowded, leading to intense price competition where companies keep lowering prices just to stay in business.
The problem is made worse because about 57 of these companies are not even active, yet they still hold valid licences. They don’t regularly buy or sell petroleum products but remain part of the system.
COMAC believes the current licensing system is too weak and needs to be fixed quickly. They are suggesting stricter rules for companies that want to enter or stay in the market.
This includes stronger requirements for how companies are managed, how they operate, and how much capital they have.
They also want struggling companies that don’t meet these new standards to merge with stronger ones or be restructured.
The goal is to reduce the number of weak players, make the industry more stable, and ensure it can grow healthily and sustainably over time.
In short, COMAC wants fewer but stronger companies in the sector, better rules, and a more organised petroleum industry in Ghana.
