| INVESTMENTS AND COMMERCIAL ACTIVITIES / Development strategy: massive investments and good commercial performance achieved in 5 years
The Société de Gestion des Stocks Pétroliers de Côte d'Ivoire (GESTOCI) has achieved good performance over the past five years (2016-2020). increase in the exploitation rate.
First, to meet the growing demands for petroleum products from its partners, GESTOCI made an investment of 5.9 billion FCFA to increase its storage capacity. And this, by building a storage unit (sphere A22) with a capacity of 2000 tons. Increasing the capacities from 4000 to 6000 tons. "It was a great relief for us, and we expect to reach at least 10,000 tonnes by 2025," said Managing Director Ibrahima Doumbia. A statement that bodes well for future investments, particularly for the Yamoussoukro depot, with the construction of a 20,000 m³ tank and an 8,000 m³ / 4,000 tonne A41 sphere.
Financial efforts have also been made to improve security, with the acquisition of mobile intervention means and a latest-generation fire truck, at a cost of 570 million CFA francs.
In terms of capacity building for agents, some have benefited from training at the Petroleum Industries Study and Safety Group (GESIP) in Paris and at the French Petroleum Institute (IFP). Similarly, simulation sessions were organized to equip officers with firefighting techniques, through periodic fire drills and training accidents, in collaboration with the Group of Military Firefighters (GSPM), the Ivoirienne de Raffinage (SIR) and the Defense and Security Forces (FDS) of Côte d'Ivoire.
As for Operation, this is one of the points of satisfaction in the management of GESTOCI managers. Over the past five years, there has been an increase in the supply volumes of authorized distributors of petroleum products. Thus, for all products (super, diesel, oil, ddo, fuel oil, JetA1 and butane) the total national market volume is as follows: 2,047,818 m³ in 2016; 2,294,542 m³ in 2017; 2,526,841 m³ in 2018; 2,701,158 m³ in 2019 and 2,775,919 m³ in 2020.
Until 2018, the growth of the national market was around 10%. Unfortunately, it suffered a 3% drop from 2019 to 2020, due to the Covid-19 pandemic, which negatively impacted activities. “Since 2016, volumes on the national market have grown steadily before being slowed down in 2020 by the health crisis. GESTOCI's volumes followed this upward trend with a marked increase of 4 points in its positioning in 2020 compared to the competition”, specifies the Operations Department.
This increase can also be seen on the Mali market, whose volumes, from 464,000 m³ in 2016 to 604,000 m³ in 2020, pulverize turnover rates at the Yamoussoukro depot, which go from 8.4 points in 2016 to almost 22 points in 2020, even leading to the risk of saturation of the facilities.
On the Burkina Faso market, despite the cessation of sea/land operations in 2017 - consisting of traders supplying the hinterland countries - volumes increased from 258,000 m³ in 2016 to 348,368 m³ in 2019 , before also suffering the impacts of the health crisis in 2020, with a drop to 201,870 m³.
Overall, the results of commercial activities are very positive. However, in order to avoid a saturation of the facilities and maintain this growth dynamic, new investments are necessary to increase the capacities, in order to meet the needs of the partners, whose demands are increasingly growing.
Aware of these major challenges, GESTOCI intends to continue its investments in structuring projects and to do everything possible to achieve better performance in its commercial storage activities in the sub-region and in Africa.
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