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The management of the Ghana Oil Company is confident that the rebranding of the company will have a significant increase on the market shares in the petroleum industry. The oil marketing company is hoping to increase dividends for shareholders of the company. The Managing Director, Patrick Akorli has stated that the rebranding has repositioned GOIL to become more competitive. The oil and gas company was established in 1960 and has since distributed petroleum products in and around Ghana. In an interview with XYZ Business, Petroleum Minister, Emmanuel Kofi Buah said the idea is to give the brand a new look, "we want the average to be proud of the company by offering more entities". Mr Akorli added that GOIL is set to expand its operations in the sub-region.