Tag: BOST
-
Ghana to lose GH¢7 million over sale of contaminated fuel
Ghana is likely to lose about 7 million cedis in revenue following attempts by the Bulk Oil Storage and Transportation Company Limited (BOST) to sell contaminated fuel to some oil marketing companies. Documents sighted by Citi Business News indicate that BOST has agreed to sell about 5 million litres of contaminated fuel to Movenpinna Energy.…
-
COPEC demands arrest of illegal petroleum traders
The Chamber of Petroleum Consumers (COPEC) is calling on government to urgently investigate and arrest culprits involved in the illegal sale of petroleum products. COPEC believes this will ensure the immediate halt of the illegal activity and revamp the once vibrant sector. Oil Marketing Companies on Tuesday revealed that about 4,000 workers may lose their…
-
Illegal fuel importers cost GH¢850m loss annually – NPA
The National Petroleum Authority (NPA) has disclosed that Ghana loses about 850 million cedis annually in taxes, due to the increased activities of fuel smugglers into and out of the country. The illegal act is said to involve operators who ply their business at the ports by fuelling tanks with fuel products brought into the…
-
Petroleum consumers dissatisfied with NPP’s 100 days’ work
The Chamber of Petroleum Consumers (COPEC) has expressed dissatisfaction at the achievements of the Nana Akufo Addo led government, grading it below average in its first 100 days in office. Citing key issues such as the high sulphur content in fuel, as well as the unsteady fuel prices, COPEC believes government has not done much…
-
Petrol, diesel prices to go up by 3 percent next week
The Institute of Energy Security (IES) has predicted a 3 percent increase in fuel prices next week. According to the Institute, due to current developments around the world, it is likely prices for the next pricing window will go up. “If you look at the crude oil price at the world market, the cedi dollar…
-
TOR explosion not to affect supplies – Acting CEO
The Acting CEO of the Tema Oil Refinery (TOR), Isaac Osei has allayed concerns over any significant impact on supplies of petroleum products following the suspension of works at the refinery. According to him, there is enough buffer to cater for a potential drop in supply of petroleum products. “The production in the meantime will…
-
Merge TOR, BOST for efficiency – Dr. Manteaw to NPP
Some industry watchers have made a strong case for the new government to merge the management of the Tema Oil Refinery (TOR) and the Bulk Oil Storage and Transportation Company (BOST) if it is to be efficient in the petroleum downstream sector. In their view, the merger will among others cut down cost and facilitate…
-
TOR faces threats from Dangote’s refinery if … – MD
The outgoing Managing Director of the Tema Oil Refinery (TOR),Kwame Awuah Darko, has urged his successor to pursue expansion drive and increase the competitiveness of the refinery. He argues TOR could lose its economic potential if plans are not implemented to strengthen the current benefits accruing to the company. Mr. Awuah-Darko’s suggestions follow plans by…
-
Ignore false reports on our 32 million cedis loss – BOST
The workers’ union of the Bulk Oil and Storage and Transportation Company (BOST) Limited, has shot down media reports that BOST has posted 32 million cedis between January and September this year. The union described the publication as an attempt to run down the gains made by the company in the oil and gas sector…