SHORT ADDRESS BY THE BOARD CHAIRMAN ON THE OCCASION OF THE 5TH ANNIVERSARY BRAND LUNCH OF RADIANCE PETROLEUM LIMITED

Good morning.  About 4 years ago, i.e. some few months before I retired from the National Petroleum Authority, I addressed a similar 5 year Anniversary Celebration of Union Oil Company Limited in Kumasi and today, I stand before you on a similar occasion. Today’s anniversary provides us with an excellent opportunity to refocus on the RPL’s brand, reflect on our past successes, and strategize and plan for the future. Five years is a major milestone for any institution, as it is for any individual.  Our 5 year celebration is rather being done without the usual Fanfare on such occasion but in a solemn manner to honour the victims of the 7TH October LPG gas explosion.

HOW DID IT ALL BEGIN?  Mr. Pobee came back to Ghana from Canada in 2011, I was then the Technical Director at the National Petroleum Authority.  He visited me at home and when I asked him what he planned doing, without hesitation he said “uncle I want to go into the oil business and whether we can work together”.

And that’s how Radiance Petroleum Limited came into being, with our able Lawyer and Board Secretary who did the JV Agreement. At that time the experience wasn’t there and as I had not quite retired from NPA yet, I couldn’t give 100% of my time so Mr. Pobee was virtually handling everything and giving me regular updates.

RPL was registered as a company limited by shares on October 16, 2012.  The very initial name was Laminin Bee Ventures with its focus exclusively on LPG and later to be changed to Radiance Petroleum Limited (We even wanted Radiance Energy Limited but that name already existed at the Registrar General’s Department).  RPL was licensed by the NPA in November 9, 2012 as an OMC with Letters of Discharge from Grace Petroleum Limited and Pacific Oil Limited in respect of 3 stations located at Abesim-Sunyani,  Ajumako and Kasoa-Nyanyanor

The Company started with a staff strength of 2 then it became 3, then 7 with its first station at Adawukwa which was LPG Filling Plant and followed by acquisition of Yawkwei Service station and then Hohoe LPG filling plant all together with an initial capital investment of GHS 955,903. The bulk of the expenditure was on the Adawukwa project which cost us so much that we could have used the funds invested in it to build two or three stations (due to lack of practical experience in the construction of the LPG plant)

On behalf of the board members and on my own behalf, I want to take this opportunity to acknowledge the various roles played by all of you and to express our gratitude to you and to further urge you to strengthen our client relationships and entice new customers. Also to those of you who have loyally served this Company over the past 5 years we are very grateful for the meritorious service.

We also want to commend some of our founding staff members: Mrs. Rosemary Pobee, Sarah Owusu-Amponsah, Ernest Asante Offei, Ebenezer Kwasi Asiedu, Emmanuel R. K. Amuah, Mark Akwetey Antwi and Elton Tagoe

Additionally we also want to honour the memories of staff members that we have lost over the years such as Felix Kuumorg. We wouldn’t have chalked these successes without him. I therefore want to invite you all to join me in remembering him and let’s all be upstanding in observing a minute silence in his honour.

We also want to pay tribute to our partners especially the BDCs such as DOME Energy Resources Limited, LHS, Chase Petroleum, Vihama Energy Limited, Fuel Trade and Ebony Oil Limited for supplying RPL with the Petroleum Products.  We also acknowledge Union Oil Company Limited (a sister OMC that provided a lot of initial Technical advice to RPL), Virgin Petroleum Limited (initial start-up atmosphere with the first load of LPG to the then Laminin Bee Ventures), Grace Petroleum Limited and Pacific Oil Limited for letters of Discharge of 3 retail outlets that culminated in the grant and issue of the OMC licence to RPL by NPA, and not leaving out the Banks such as HFC, Zenith Bank, GCB, NIB, GT Bank for providing financial support for our operations.

Finally I want to wish all of you, the entire Staff, Management and Board, Happy 5th Anniversary and may the Almighty God continue to bless Radiance Petroleum Limited according to His Perfect will.

Thank you.
ISAAC TAGOE