Tag: BOST
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BOST clarifies amount paid for iPhones bought for company executives
The Bulk Oil Storage and Transportation Limited (BOST) has debunked earlier media reports which suggested that the company paid a little over GHS 28 million for the purchase of iPhones for its corporate executive members. In a statement issued on September 30, the Oil Company maintained, it has made some purchase of the said iPhones…
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BOST net profit increases by 112% in 2022, currently at GH₵342m
The net profit margin of the Bulk Oil Storage and Transportation Limited Company (BOST) has increased from GH₵161 million in 2021 to GH₵342 million in 2022. This was disclosed by the board chairman of BOST, Mr Ekow Hackman, during the institution’s 2nd annual general meeting held at their office in Accra on Thursday, August 17,…
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Gold for Oil policy will save Ghana $4.8bn annually – Veep
Vice President Dr Mahamudu Bawumia has stated that the country will save $4.8 billion annually from the ‘Gold for Oil’ policy. According to him, this is the most important aspect of the policy which is aimed stabilising prices of fuel products, as well as reduce pressure on Ghana’s foreign exchange. Speaking at the commissioning of…
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Claims BOST recorded GH¢400 million in losses inaccurate – Management
The management of the Bulk Oil Storage and Transportation Company Limited (BOST) has rejected claims that it made a loss of GH¢400 million. Insisting that BOST is profitable, management of the company explained that the firm made over GH¢9.8 million profit before tax in 2020, the first time since 2016. “The report of the GH¢400…
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BOST and TOR must shield Ghanaians from impact of fuel price increase – COPEC
As global Oil prices are tipped to hit record levels this year, the Chamber of Petroleum Consumers Ghana (COPEC) says the Tema Oil Refinery and the Bulk Oil Storage and Transportation Company Limited must absolve the public from its associated shocks. Speaking to Citi Business News, Executive Secretary of COPEC, Duncan Amoah stated that these…
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BOST takes delivery of 5,400 pipes for expansion
The Bulk Oil Storage and Transportation Company Limited, BOST, has finally taken delivery of 5,400 pieces of 12- inch pipe among other equipment to support the rehabilitation and expansion works on its petroleum transmission lines from Tema to Akosombo. The pipes, which include valves, flow meters, pumps and generators were procured in 2009 for $63.2 million…
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BOST saved Ghana from paying $26 million to BDCs – Managing Director
The Bulk Oil Storage and Transportation Company Limited (BOST) says its current management has saved Ghana from paying $26 million to eight Bulk Distribution Companies. The eight companies had asked BOST to pay $37 million for 22.7 million litres of petroleum products which allegedly went missing from tanks of the national strategic oil storage company…
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Activate all your fuel distribution pipelines – IES to BOST
The Institute for Energy Security, IES, is urging the Bulk Oil Storage and Transportation Company Ltd (BOST) to ensure it gets all its fuel pipe distribution lines back online. This according to the IES will help reduce incidents associated with the transportation of petroleum products across the country. Two fuel tanker explosions have been recorded…
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BOST targets Sahelian countries after reviving Bolga Depot
Ghana’s quest to serve as a hub for petroleum products in the sub-region received a major boost following the revival of the Bolgatanga Depot of the Bulk Oil Storage and Transportation Company Limited (BOST). The facility which has a capacity to hold about 46.5 million litres of petroleum products has been dormant since 2018 largely…
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BOST closes down head office as 46 staff test positive for COVID-19
The Bulk Oil Storage and Transportation Company Limited (BOST), has closed down its head office at Dzorwulu after 46 employees tested positive for the novel Coronavirus. The office will be closed from Monday, July 6, 2020 to Monday, July 13, 2020. A statement issued by the Corporate Communications Department of BOST and sighted by Citi…