Tag: BOST
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Over 600,000 litres of BOST’s contaminated fuel ‘evaporates’
The Bulk Oil Storage and Transportation (BOST) is in the news again, this time over the disappearance of about 600,000 litres of its contaminated fuel. A five-member committee set up by the current Managing Director of BOST, George Mensah Oakley to take stock of five million litres of the off-spec product noticed the disappearance. The…
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Change BOST’s mandate to address fuel price hikes – IES
The Institute of Energy Securities (IES) is calling for a change in the mandate of the Bulk Oil Storage And Transportation (BOST) to help address the constant increase in fuel prices. According to the Executive Secretary of IES, Paa Kwesi Anamoah Sekyi, an analysis of the trend in fuel prices on the international market can better…
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Fuel crisis looms over cartel in petroleum industry – BOST workers
The Senior Staff of the Bulk Oil Storage and Transportation Company (BOST) are predicting a shortage in fuel following what they say is the continuous interference by a cartel in the company’s activities. Secretary of the Senior Staff Association of BOST, Ekow Sey claims that some Bulk Oil Distribution Companies (BDCs) and highly placed individuals,…
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New BOST Board mandated to stabilize fuel prices
The Minister of Energy, Boakye Agyarko, has tasked the new Board of the Bulk Oil Storage and Transportation Company (BOST) to intensify efforts to increase the strategic reserves of petroleum products in the country. He maintains that failure to increase the stock of petroleum products in due time, could trigger price hikes. In addition, BOST’s…
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Contaminated fuel: Committee to advice on way forward – Boakye Agyarko
The Energy Minister, Boakye Agyarko has indicated that the eight member committee tasked to look into the alleged sale of 5 million litres of contaminated fuel to Movenpiina, would now offer advice to the Minister on how to avert the possible sale of contaminated or off-spec products. According to him, the mandate also comes after…
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Fuel prices to drop by 2% in first pricing window in July
Prices of fuel are likely to see further drop in the first pricing window of July by about 2%. This is according to the Institute of Energy Security (IES). The Institute believes indicators such as the relative appreciation of the cedi against the dollar and the general reduction in the global price of crude oil…
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New diesel sulphur content rules to take off tomorrow
Effective Saturday, July 1 2017, all imported diesel into Ghana should have a minimum sulphur content of not more than 50 million parts per million, barring any last minute changes. This follows the implementation of the new regulation by the National Petroleum Authority (NPA). A study by the African Centre for Energy Policy (ACEP) and…
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BOST contaminated fuel saga: The NPA’s key findings
The National Petroleum Authority (NPA) confirmed that the two companies alleged to have purchased the over 5 million litres of contaminated fuel under suspicious circumstances from the Bulk Oil Storage and Transportation (BOST) Company were not licensed. According to the NPA, it will take legal action against the firms, whiles it conducts further investigation to determine…
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BOST defends sale of ‘contaminated’ fuel to oil company
The Bulk Oil Storage and Transportation Company (BOST) has defended its decision to sell off contaminated or off-spec product to oil company, Movenpiina. Documents sighted by Citi Business News indicate that BOST has agreed to sell 5 million litres of the product to the company at a cost of 1 cedi per litre. This is…