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BOST TO BUILD LPG TANKS ACROSS ITS DEPOTS - MD
The Managing Director of BOST, Mr. Edwin Provencal, has disclosed that the company aim of building Liquified Petroleum Gas (LPG) storage facilities (Tanks) for the country was progressing steadily with the Front End Engineering Design (FEED) for the project almost complete.
He said the construction of the LPG Tanks at all BOST existing depots when completed will enable the company to store LPG as part of national strategic reserve for the country.
Mr.Provencal added that the LPG storage facilities was part of the Company’s strategy of aggressively growing its business by developing a network of storage tanks, pipelines, and other bulk transportation infrastructure throughout the country.
Mr Provencal was speaking during the end-of-year assessment stakeholder engagement with the media which was used to outline the company’s achievements for 2021 and plans for 2022.
The engagement provided a platform for BOST to share its success stories and challenges with the media as part of efforts to promote probity and accountability in the management of the company.
Mr Provencal said BOST has identified LPG products as one of the opportunities for its growth strategy.
The LPG storage tanks would contribute to meeting the growing demand for LPG products by consumers as it would generate more revenue for the government.
Mr Provencal revealed that BOST would continue to work towards becoming the number one fuel and logistics business operator in the West African sub-region.

 adulterated fuel1 DRIVER IN POLICE CUSTODY….8 OTHERS ON THE RUN

The management of the Bulk Oil Storage and Transportation Company Limited (BOST), has intercepted and detained Nine (9) bulk road vehicles (BRVs) otherwise known as Tanker Trucks with adulterated petroleum products at its Kumasi depot over the last couple of days pending further investigations.

The nine tankers trucks have been held for carrying adulterated products intended discharging the unwholesome products into the company depot in Kumasi.Mr. Edwin Provencal, the Managing Director of BOST told the media at a press conference in Kumasi that eight of the drivers had absconded but the trucks and their contents were intact.
He said as a standard practice, products were tested to confirm their chemical composition before they were loaded into trucks, and the process repeated upon arrival at their destinations before discharging them.

He said during the pre-discharge testing of a product aboard a truck, it was discovered that the chemical composition of the product at the destination differed from what was loaded on the truck.

“BOST made a call for confirmation testing, which proved that the result of the basic test was correct and that the product aboard the truck was adulterated,” he explained.
He said the truck and its content were being held at a safe place as investigations continued, adding that the driver was in custody assisting the investigative bodies to get to the bottom of the matter.

Further tests on subsequent products, according to him, revealed that eight more trucks also carried adulterated products, thereby holding them for investigation.
He assured the general public that no adulterated product would find its way into the tanks of BOST, much less get to the market due to the robust standard operating procedures.
“The company further wishes to assure the public that the reported incident has not affected our operations in any way and our fuel safety and security as a country is assured,”

The Minister for Public Enterprises, Joseph Cudjoe has praised the Managing Director of BOST, Edwin Provencal and his team for putting to good use,  the BOST margin which has been increased from 3 to 9 pesewas.

Mr. Joseph Cudjoe as part of his working visit to state-owned enterprises has visited the Bulk Oil Storage and Transportation (BOST) Company Limited to inspect its financial and operating performance.

He commended the management for the turnaround that has been achieved in a short space of time and also for the introduction of policies that have been developed operationally to make sure that BOST operations are brought to the highest level of professional corporate management.

“I have been so much impressed given when we have taken this trip to Accra Plain Depot (APD) and seeing the ongoing improvement in facilities that in recent past were not so well maintained and a lot of maintenance improvement and additions that are being done. It has been very impressive,” he noted. 

The Bulk Oil Storage and Transportation Company Limited (BOST) is expected to take delivery of some pipelines from the United States of America by the end of September 2021.

The twelve-year delay in the delivery of the equipment was as a result of some managerial setbacks and cost the company a total of 63 Million US Dollars.
Managing Director of BOST, Mr. Edwin Provencal disclosed this when he led the Sector Minister for Public Enterprises, Mr. Joseph Cudjoe on a working tour of BOST Facilities in Accra.

BOST PIPELINES1He disclosed further that the company started the procurement of these pipelines in 2009 with an EXIM facility however the pipelines are still stuck in Houston, the United States of America.
He stated that by the end of the month the shipment of the pipeline will commence.
“We have procured a logistics provider to visit the site for the pipes and assess the facilities, and the firm tells us that the pipes are good and ready to be shipped to Ghana.
He regretted however, that a hundred and nine of the pipes have been damaged and an additional US$8 million has been spent to repair them before shipment could commence.
Edwin Provencal said with the arrival of the pipelines, the company will increase the Tema Akosombo pipeline capacity from the current six inches to 12 inches to improve the efficient delivery of petroleum products across the country.

Mr. Edwin Provencal, Managing Director (MD) of Bulk Oil Storage and Transportation (BOST), says plans are in place to build Liquefied Petroleum Gas (LPG) tanks across all BOST Depots to help increase gas supply in the country.

“We have started a front-end engineering design and we hope that by end of next year, we will have LPG tank farms in every Depot”.

He made this known, at Buipe, when BOST held a performance assessment engagement with Civil Society Organisations (CSOs) and a tour of Buipe BOST Depot facilities.

He said the move was part of the Company’s strategy of aggressively growing its business by developing a network of storage tanks, pipelines, and other bulk transportation infrastructure throughout the country.

CSOS 2

The engagement provided a platform for BOST to share its success stories and challenges with stakeholders as part of efforts to promote probity and accountability.

Mr. Provencal said, “our vision going forward, is to grow our business aggressively and we have identified LPG as one of the opportunities for our growth strategy, and that means there are plans to build LPG tanks across all our Depots”.

The BOST MD indicated that the LPG tanks would contribute to meeting the growing demand of LPG products by consumers in the country, adding that, it would generate more revenue for the government to undertake its development projects.

Mr. Provencal noted that 75 percent of repair works had been carried out on its revenue-earning assets as of the first quarter of 2021.

He was confident that 97 percent of repair works would be done by end of the year.

Mr. Duncan Amoah, Executive Secretary of Chamber of Petroleum Consumers Ghana (COPEC), commended BOST for work done so far on instituting measures to improve on its facilities to enhance their work.

He called on the management of the Company to stock up its storage facilities with adequate petroleum products to ensure fuel prices were stable.(BOSTCorpcom/GNA)