The Chamber of Oil Marketing Companies (COMAC) has formed a small team to engage Star Oil following the company’s decision to suspend its membership.
COMAC Chairman Gabriel Kumi revealed this during an interview on Joy News’ PM Express, Business Edition, on Thursday.
“We immediately put together a team to engage Star Oil,” he said. “It’s not a committee—just a few of us tasked with reaching out to Star Oil to bring them back to the Chamber.”
Mr. Kumi dismissed claims that the Chamber’s emergency meeting was prompted by Star Oil’s exit.
“Let me clarify: the emergency meeting on Thursday was not because Star Oil suspended its membership,” he said. “The meeting had been scheduled days earlier. Star pulled out on Wednesday, but we had planned the emergency session since Monday.”
He explained that the timing was adjusted to ensure full attendance.
“We wanted a full house for this meeting,” he noted. “Some members suggested Monday or Tuesday, but some of us were traveling, and Wednesday wasn’t workable, so we moved it to Thursday morning.”
Mr. Kumi said the meeting was convened due to growing concerns about unhealthy competition in the sector.
“We noticed that competition was becoming a bit intense, so we wanted to meet with both Star Oil and GOIL,” he explained, noting that both companies sit on the COMAC board.
He added that tensions escalated beyond business competition, with personal attacks intensifying, which prompted Star Oil to suspend itself.
Describing Thursday’s engagement as challenging, Mr. Kumi stated that the Chamber maintained its policy stance.
“At the end of the day, we agreed that the Chamber’s position—supporting the petroleum price floor—should remain,” he said. He added that outreach to Star Oil began immediately afterward.
Earlier this week, Star Oil announced an indefinite suspension of its COMAC membership, citing concerns over the Chamber’s handling of the petroleum price floor debate. The policy has divided oil marketing companies and heightened tensions within Ghana’s downstream petroleum sector.
