Star Oil rejoins COMAC, calls for reforms to governance structure

The Ghanaian oil marketing firm Star Oil Ghana Limited has decided to rejoin the Chamber of Oil Marketing Companies (COMAC) and is now advocating for reforms to the Chamber's governance structure. In a letter sent to COMAC's CEO on October 1, 2026, Star Oil CEO Philip Tieku explained that the company's participation was suspended in January 2026 due to concerns over the Chamber's ability to represent members' interests effectively.

After consulting with industry stakeholders and receiving support from other COMAC members, the company has concluded that a stronger industry body is needed to advocate for the collective interests of oil marketing companies and engage effectively with regulators, government and other stakeholders. While welcoming the opportunity to contribute to COMAC's reform efforts, Star Oil has emphasized that its return is also a chance to push for changes to the Chamber's governance arrangements.

Specifically, the company argues that permanent board representation for three founding oil marketing companies should not be maintained, as the downstream petroleum industry has evolved significantly in terms of size, market share, investment and contribution. Star Oil contends that the current governance structure unfairly concentrates influence among a few companies and could weaken decision-making.

The company is advocating for a more transparent, democratic and periodically renewable process for board representation, with the goal of enhancing member participation, accountability and commitment.