BOST

Gold For Oil: BOST Begins Selling Of First Consignment Of Fuel
20 Jan

Gold For Oil: BOST Begins Selling Of First Consignment Of Fuel

wontumionlineBusiness, News, , , ,
JoyNews can confirm that the Bulk Oil Storage and Transportation Company (BOST) has today, Thursday, January 19 started selling petroleum products procured under the gold for oil barter arrangement. Reports indicate that GOIL and other Bulk Oil Distribution Companies have taken delivery of fuel for the market. However, what is being sold today is only 20 percent of Ghana’s market needs. The Bank of Ghana says consumers should not expect to see an immediate reduction in the price of petrol and diesel at the various fuel pumps. The Head of Financial markets at the Bank of Ghana, Stephen Opata disclosed…
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Ghana’s Gold Swap For Oil: 40,000 Metric Tonnes Of fuel Under Policy Delivered
16 Jan

Ghana’s Gold Swap For Oil: 40,000 Metric Tonnes Of fuel Under Policy Delivered

wontumionlineBusiness,
The first consignment of the Gold for Oil Policy by the government to stem the increasing depreciation of the cedi against the major currencies has arrived at the Tema Port. The fuel has been discharged into the receptacles of the Bulk Oil Storage and Transportation Company (BOST). The 41,000 metric tonnes of the petroleum products delivered by SCF YENISEI would be sold by BOST to bulk distributing companies (BDCs) around Ghana, a source has told Graphic Online. Valued at $40 million, it was brokered by the Economic Management Team led by Vice President Dr. Mahamudu Bawumia. In November 2022, the…
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BOST Discounts Claims Of Diesel Leakage, Says Substance Was Sludge
19 Dec

BOST Discounts Claims Of Diesel Leakage, Says Substance Was Sludge

wontumionlineBusiness, ,
The Bulk Oil Storage and Transportation Company Limited (BOST), has discounted claims in the media that a liquid substance thought to have leaked from a national oil pipeline at a spot near Atimpoku in the Eastern region, was diesel. A statement issued by BOST said the reported liquid was actually sludge consisting of water, dirt and fuel residue it had spilled during testing of the integrity of a pipeline being refurbished. Residents living around the spillage reportedly scooped up gallons of the flowing material, assuming it was wholesome diesel. According to BOST, it owns and operates a 71-kilometre Petroleum-Product-Pipeline stretching…
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No Looming Fuel Shortage – BOST Assures Public
22 Sep

No Looming Fuel Shortage – BOST Assures Public

wontumionlineBusiness,
The Bulk Oil Storage and Transportation Limited (BOST) has assured the public that there is no looming fuel shortage as speculated by some media publications. A release issued by the company said estimates from the National Petroleum Authority (NPA) indicated that the total volumes of fuel available in-country as of September 20, 2022 was equivalent to 43 days of national demand and not 13 days as being bandied around. It said out of the total quantity, BOST held what could last for 13 days while the Bulk Oil Distributing Companies (BDCs), together, are holding close to 30 days of national…
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BOST Margin On Petroleum Products To Remain Despite Calls For Removal
15 Sep

BOST Margin On Petroleum Products To Remain Despite Calls For Removal

wontumionlineBusiness, , ,
The charge of 6 pesewas per litre as margin on petroleum products for the Bulk Oil Storage and Transportation Company (BOS) a strategic source of income for the State will not be taken off anytime soon as suggested by some consumers. According to Energy Minister, Mathew Opoku Prempeh, the levy is very important for the operations of the state institution and the economy. Speaking at the Annual General Meeting of BOST, the Minister hinted that the introduction and subsequent increase in the margin to 6 pesewas has increased revenue for BOST by about 80% in 2021. “I can promise Mr.…
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