This study investigated the strategic impediments to mergers and acquisitions (M&A) in Ghana's oil marketing sector. Using a cross-sectional design and a quantitative approach, data was collected from 255 oil marketing companies (OMCs) through a survey. The results indicate that regulatory complexity significantly impedes M&A activities, while legal uncertainty does not have a significant impact. Economic stability and financial health positively influence the likelihood of successful M&A, but access to capital exhibits a surprising negative relationship. Neither strategic alignment nor organizational readiness significantly predicts M&A success. However, market fragmentation and competitive intensity strongly influence the feasibility of consolidation efforts. Robustness checks confirm the reliability of the findings. The study highlights the importance of regulatory frameworks, economic conditions, and market dynamics in shaping M&A outcomes and provides practical insights for stakeholders in the oil marketing sector. Policymakers are encouraged to streamline regulatory processes to facilitate smoother M&A transactions, ultimately fostering industry growth and competitiveness.